FY2024 EPS Estimates for Biogen Lifted by Leerink Partnrs

Biogen Inc. (NASDAQ:BIIB) – Stock analysts at Leerink Partnrs increased their FY2024 earnings per share (EPS) estimates for shares of Biogen in a report issued on Wednesday, October 30th. Leerink Partnrs analyst M. Goodman now forecasts that the biotechnology company will post earnings per share of $16.45 for the year, up from their prior forecast of $16.10. The consensus estimate for Biogen’s current full-year earnings is $16.17 per share. Leerink Partnrs also issued estimates for Biogen’s Q4 2024 earnings at $3.42 EPS.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the company earned $4.36 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis.

A number of other analysts have also commented on the company. HC Wainwright reissued a “buy” rating and issued a $300.00 target price on shares of Biogen in a report on Thursday. StockNews.com upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Truist Financial restated a “buy” rating and issued a $302.00 price target (down from $340.00) on shares of Biogen in a research note on Monday, August 5th. Wells Fargo & Company dropped their price target on Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Scotiabank dropped their price target on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Biogen presently has an average rating of “Moderate Buy” and a consensus target price of $262.83.

Biogen Stock Down 0.1 %

BIIB stock opened at $173.79 on Friday. The firm has a market cap of $25.31 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 1.82 and a beta of -0.06. The business has a 50 day moving average of $192.71 and a 200 day moving average of $209.37. Biogen has a twelve month low of $173.14 and a twelve month high of $268.30. The company has a quick ratio of 1.48, a current ratio of 1.26 and a debt-to-equity ratio of 0.28.

Institutional Investors Weigh In On Biogen

Several large investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd boosted 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 valued at $25,000 after buying an additional 53 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in shares of Biogen in the second quarter valued at approximately $33,000. EntryPoint Capital LLC purchased a new stake in shares of Biogen in the first quarter valued at approximately $36,000. Versant Capital Management Inc boosted its holdings in shares of Biogen by 123.2% in the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 85 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Biogen by 249.0% in the second quarter. Blue Trust Inc. now owns 178 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 127 shares during the period. 87.93% of the stock is owned by institutional investors.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the sale, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.16% of the company’s stock.

Biogen Company Profile

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.