Q3 2024 EPS Estimates for Biogen Inc. (NASDAQ:BIIB) Decreased by Leerink Partnrs

Biogen Inc. (NASDAQ:BIIB - Free Report) - Equities research analysts at Leerink Partnrs lowered their Q3 2024 earnings per share (EPS) estimates for shares of Biogen in a report released on Tuesday, April 9th. Leerink Partnrs analyst M. Goodman now expects that the biotechnology company will post earnings of $4.15 per share for the quarter, down from their prior forecast of $4.27. The consensus estimate for Biogen's current full-year earnings is $15.47 per share. Leerink Partnrs also issued estimates for Biogen's Q4 2024 earnings at $3.96 EPS, FY2027 earnings at $21.50 EPS and FY2028 earnings at $23.40 EPS.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the firm posted $4.05 EPS.

Several other equities research analysts have also weighed in on the company. Canaccord Genuity Group decreased their price objective on Biogen from $310.00 to $305.00 and set a "buy" rating for the company in a report on Tuesday, February 20th. Oppenheimer dropped their price target on shares of Biogen from $295.00 to $290.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 14th. StockNews.com lowered shares of Biogen from a "buy" rating to a "hold" rating in a research note on Tuesday, February 20th. UBS Group dropped their target price on Biogen from $276.00 to $250.00 and set a "neutral" rating on the stock in a research report on Friday, February 16th. Finally, Needham & Company LLC reduced their price target on Biogen from $305.00 to $300.00 and set a "buy" rating for the company in a research report on Tuesday, February 13th. Ten equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $300.12.

Biogen Stock Performance

NASDAQ BIIB traded up $2.13 on Thursday, hitting $203.68. 1,019,051 shares of the stock traded hands, compared to its average volume of 1,151,489. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The business's fifty day moving average is $221.83 and its two-hundred day moving average is $238.65. Biogen has a 12 month low of $200.65 and a 12 month high of $319.76. The firm has a market capitalization of $29.61 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 1.71 and a beta of -0.02.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 419 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Eric K. Rowinsky bought 455 shares of the company's stock in a transaction dated Thursday, February 15th. The stock was bought at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Priya Singhal sold 419 shares of the firm's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the sale, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 882 shares of company stock worth $202,030. Company insiders own 0.60% of the company's stock.

Institutional Investors Weigh In On Biogen

Large investors have recently made changes to their positions in the business. Primecap Management Co. CA boosted its position in Biogen by 1.6% during the 4th quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company's stock valued at $4,208,760,000 after acquiring an additional 251,915 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Biogen by 18.2% in the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company's stock worth $3,728,185,000 after purchasing an additional 2,218,744 shares in the last quarter. State Street Corp grew its stake in shares of Biogen by 2.8% in the 1st quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company's stock worth $1,518,196,000 after buying an additional 197,400 shares during the last quarter. Wellington Management Group LLP increased its position in Biogen by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company's stock valued at $1,381,251,000 after buying an additional 27,951 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Biogen by 49.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company's stock worth $580,627,000 after acquiring an additional 691,843 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors.

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.