Biogen Inc. to Post FY2024 Earnings of $15.65 Per Share, Leerink Partnrs Forecasts (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIBFree Report) – Analysts at Leerink Partnrs lifted their FY2024 EPS estimates for shares of Biogen in a report issued on Tuesday, July 9th. Leerink Partnrs analyst M. Goodman now anticipates that the biotechnology company will post earnings of $15.65 per share for the year, up from their previous forecast of $15.60. The consensus estimate for Biogen’s current full-year earnings is $15.63 per share. Leerink Partnrs also issued estimates for Biogen’s FY2025 earnings at $18.00 EPS, FY2026 earnings at $19.80 EPS, FY2027 earnings at $21.30 EPS and FY2028 earnings at $23.20 EPS.

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

Several other equities research analysts have also commented on BIIB. HSBC boosted their price target on shares of Biogen from $339.00 to $342.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. dropped their target price on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. Oppenheimer reaffirmed an “outperform” rating and set a $270.00 target price on shares of Biogen in a report on Monday, April 29th. Truist Financial reaffirmed a “buy” rating and set a $340.00 target price on shares of Biogen in a report on Thursday, May 16th. Finally, Wedbush upped their target price on shares of Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a report on Thursday, April 25th. Ten analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Biogen presently has an average rating of “Moderate Buy” and an average target price of $286.50.

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Biogen Price Performance

Shares of NASDAQ BIIB opened at $232.75 on Thursday. The firm has a market cap of $33.89 billion, a PE ratio of 29.06, a PEG ratio of 2.30 and a beta of -0.04. The firm has a fifty day moving average of $225.78 and a 200 day moving average of $227.18. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.32 and a current ratio of 2.10. Biogen has a one year low of $189.44 and a one year high of $281.68.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BIIB. Plato Investment Management Ltd lifted its position in shares of Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 53 shares in the last quarter. Livelsberger Financial Advisory acquired a new stake in shares of Biogen during the fourth quarter worth about $26,000. Rise Advisors LLC acquired a new stake in shares of Biogen during the first quarter worth about $27,000. Gladius Capital Management LP acquired a new stake in shares of Biogen during the third quarter worth about $28,000. Finally, Hexagon Capital Partners LLC lifted its position in shares of Biogen by 76.1% during the fourth quarter. Hexagon Capital Partners LLC now owns 118 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 51 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen Company Profile

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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.

Further Reading

Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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