Biogen (NASDAQ:BIIB) Posts Earnings Results, Misses Estimates By $0.24 EPS

Biogen (NASDAQ:BIIB - Get Free Report) released its quarterly earnings results on Thursday. The biotechnology company reported $3.02 EPS for the quarter, missing the consensus estimate of $3.26 by ($0.24), Zacks reports. The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. Biogen had a net margin of 16.87% and a return on equity of 14.98%. The firm's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.67 EPS. Biogen updated its FY 2025 guidance to 14.500-15.500 EPS.

Biogen Trading Up 2.2 %

Shares of BIIB stock traded up $2.60 during trading on Friday, hitting $123.53. 1,460,036 shares of the stock traded hands, compared to its average volume of 1,356,243. The firm has a market capitalization of $18.08 billion, a P/E ratio of 11.04, a price-to-earnings-growth ratio of 1.51 and a beta of 0.13. Biogen has a 52-week low of $110.04 and a 52-week high of $238.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The firm's fifty day moving average price is $130.58 and its 200-day moving average price is $146.45.

Analysts Set New Price Targets

A number of research firms have recently commented on BIIB. Piper Sandler dropped their target price on Biogen from $135.00 to $115.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Bank Of America (Bofa) dropped their price objective on Biogen from $178.00 to $163.00 and set a "neutral" rating on the stock in a report on Tuesday, February 11th. Wells Fargo & Company decreased their target price on Biogen from $165.00 to $140.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. BMO Capital Markets dropped their price target on shares of Biogen from $156.00 to $139.00 and set a "market perform" rating on the stock in a research note on Thursday, February 13th. Finally, Sanford C. Bernstein started coverage on shares of Biogen in a research report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 price objective for the company. Twenty research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $195.85.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the transaction, the director now directly owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.16% of the stock is owned by insiders.

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.