Biogen (BIIB) Scheduled to Post Quarterly Earnings on Wednesday

Biogen (NASDAQ:BIIB) will be announcing its earnings results before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $3.48 per share for the quarter. Biogen has set its FY24 guidance at $15.00-$16.00 EPS and its FY 2024 guidance at 15.000-16.000 EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. During the same period in the previous year, the firm posted $4.05 EPS. On average, analysts expect Biogen to post $15 EPS for the current fiscal year and $17 EPS for the next fiscal year.

Biogen Trading Up 2.0 %

Shares of BIIB opened at $194.38 on Monday. The firm’s 50-day moving average price is $215.23 and its 200-day moving average price is $235.57. The firm has a market capitalization of $28.26 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.85 and a beta of -0.02. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. Biogen has a 1-year low of $189.44 and a 1-year high of $319.76.

Insider Activity

In other news, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now directly owns 4,886 shares in the company, valued at approximately $1,080,929.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were purchased at an average cost of $222.54 per share, for a total transaction of $101,255.70. Following the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Priya Singhal sold 262 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The disclosure for this sale can be found here. Insiders have sold 882 shares of company stock worth $202,030 in the last three months. Company insiders own 0.60% of the company’s stock.

Hedge Funds Weigh In On Biogen

Several institutional investors have recently bought and sold shares of the stock. Snowden Capital Advisors LLC grew its stake in Biogen by 2.5% during the second quarter. Snowden Capital Advisors LLC now owns 1,591 shares of the biotechnology company’s stock valued at $453,000 after acquiring an additional 39 shares in the last quarter. First Manhattan Co. grew its stake in Biogen by 33.3% during the fourth quarter. First Manhattan Co. now owns 160 shares of the biotechnology company’s stock valued at $44,000 after acquiring an additional 40 shares in the last quarter. Systematic Financial Management LP grew its stake in Biogen by 2.5% during the first quarter. Systematic Financial Management LP now owns 1,640 shares of the biotechnology company’s stock valued at $456,000 after acquiring an additional 40 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Biogen by 3.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,005 shares of the biotechnology company’s stock valued at $555,000 after acquiring an additional 63 shares in the last quarter. Finally, SageView Advisory Group LLC grew its stake in shares of Biogen by 8.2% in the 4th quarter. SageView Advisory Group LLC now owns 951 shares of the biotechnology company’s stock worth $235,000 after buying an additional 72 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on BIIB. StockNews.com lowered shares of Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, February 20th. HC Wainwright reissued a “buy” rating and set a $325.00 price objective on shares of Biogen in a research note on Wednesday, February 14th. Bank Of America (Bofa) dropped their price objective on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. Robert W. Baird dropped their price objective on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 14th. Finally, Bank of America dropped their price objective on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Biogen has an average rating of “Moderate Buy” and a consensus target price of $295.58.

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.