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

Biogen Inc. (NASDAQ:BIIB - Free Report) - Research analysts at Wedbush raised their Q3 2024 EPS estimates for Biogen in a report released on Wednesday, April 17th. Wedbush analyst L. Chico now expects that the biotechnology company will post earnings per share of $4.13 for the quarter, up from their previous forecast of $4.11. Wedbush has a "Neutral" rating and a $213.00 price target on the stock. The consensus estimate for Biogen's current full-year earnings is $15.48 per share. Wedbush also issued estimates for Biogen's FY2024 earnings at $15.32 EPS.

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

Several other equities research analysts have also recently weighed in on BIIB. Barclays decreased their target price on Biogen from $230.00 to $215.00 and set an "equal weight" rating for the company in a research note on Thursday, April 4th. Canaccord Genuity Group lowered their target price on shares of Biogen from $310.00 to $305.00 and set a "buy" rating for the company in a report on Tuesday, February 20th. Robert W. Baird dropped their target price on shares of Biogen from $333.00 to $316.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 14th. JPMorgan Chase & Co. reduced their price target on shares of Biogen from $270.00 to $240.00 and set a "neutral" rating for the company in a research report on Thursday, April 11th. Finally, UBS Group decreased their price objective on shares of Biogen from $250.00 to $214.00 and set a "neutral" rating for the company in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $296.35.

Biogen Stock Down 0.9 %

NASDAQ BIIB traded down $1.64 during trading on Thursday, reaching $190.52. 1,512,005 shares of the company's stock were exchanged, compared to its average volume of 1,156,184. Biogen has a 1 year low of $189.52 and a 1 year high of $319.76. The stock has a market cap of $27.69 billion, a P/E ratio of 23.87, a price-to-earnings-growth ratio of 1.86 and a beta of -0.02. 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 company has a 50 day moving average price of $216.17 and a two-hundred day moving average price of $236.24.

Insider Activity at Biogen

In other news, insider Priya Singhal sold 262 shares of the firm's stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of 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 Securities & Exchange Commission, which can be accessed through this link. In other Biogen news, insider Priya Singhal sold 262 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric K. Rowinsky bought 455 shares of Biogen stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now owns 20,629 shares of the company's stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold a total of 882 shares of company stock worth $202,030 over the last 90 days. Company insiders own 0.60% of the company's stock.

Institutional Inflows and Outflows

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

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.