Q3 2024 EPS Estimates for Biogen Inc. Lifted by Analyst (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIB) – William Blair lifted their Q3 2024 EPS estimates for Biogen in a research report issued on Thursday, April 25th. William Blair analyst M. Minter now anticipates that the biotechnology company will earn $4.17 per share for the quarter, up from their previous estimate of $3.64. William Blair has a “Outperform” rating on the stock. The consensus estimate for Biogen’s current full-year earnings is $15.57 per share. William Blair also issued estimates for Biogen’s Q4 2024 earnings at $4.24 EPS, FY2024 earnings at $15.88 EPS, Q1 2025 earnings at $4.26 EPS, Q2 2025 earnings at $4.16 EPS, FY2025 earnings at $16.87 EPS and FY2026 earnings at $17.13 EPS.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the firm posted $3.40 EPS. Biogen’s revenue was down 7.0% on a year-over-year basis.

BIIB has been the subject of several other reports. HC Wainwright reduced their target price on Biogen from $325.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday. Barclays cut their target price on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a research note on Thursday. Cantor Fitzgerald restated an “overweight” rating and issued a $311.00 price objective on shares of Biogen in a report on Tuesday, February 20th. StockNews.com lowered shares of Biogen from a “buy” rating to a “hold” rating in a report on Tuesday, February 20th. Finally, BMO Capital Markets lowered their price target on shares of Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research note on Wednesday, February 14th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and a consensus price target of $293.88.

Biogen Price Performance

NASDAQ BIIB opened at $208.90 on Monday. Biogen has a 52 week low of $189.44 and a 52 week high of $319.76. The firm’s 50-day simple moving average is $212.55 and its two-hundred day simple moving average is $233.34. The company has a quick ratio of 1.26, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. The company has a market cap of $30.42 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 2.13 and a beta of -0.02.

Institutional Investors Weigh In On Biogen

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pinnacle Associates Ltd. grew its stake in shares of Biogen by 4.5% in the 1st quarter. Pinnacle Associates Ltd. now owns 4,761 shares of the biotechnology company’s stock worth $1,027,000 after buying an additional 204 shares during the last quarter. Tritonpoint Wealth LLC boosted its holdings in Biogen by 14.7% in the first quarter. Tritonpoint Wealth LLC now owns 2,321 shares of the biotechnology company’s stock worth $521,000 after acquiring an additional 298 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in shares of Biogen by 6.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,821 shares of the biotechnology company’s stock worth $5,999,000 after acquiring an additional 1,700 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Biogen by 53.0% during the first quarter. Valeo Financial Advisors LLC now owns 1,412 shares of the biotechnology company’s stock valued at $285,000 after acquiring an additional 489 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its position in shares of Biogen by 21.9% in the 1st quarter. V Square Quantitative Management LLC now owns 3,245 shares of the biotechnology company’s stock worth $700,000 after purchasing an additional 584 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Biogen news, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction dated Thursday, February 15th. The shares were purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Priya Singhal sold 262 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 882 shares of company stock valued at $202,030. Company insiders own 0.60% of the company’s stock.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.