Q3 2024 Earnings Estimate for Biogen Inc. (NASDAQ:BIIB) Issued By Wedbush

Biogen Inc. (NASDAQ:BIIB) – Analysts at Wedbush lowered their Q3 2024 EPS estimates for shares of Biogen in a research note issued on Wednesday, April 24th. Wedbush analyst L. Chico now expects that the biotechnology company will post earnings per share of $4.02 for the quarter, down from their previous estimate of $4.13. Wedbush has a “Neutral” rating and a $215.00 price objective on the stock. The consensus estimate for Biogen’s current full-year earnings is $15.57 per share. Wedbush also issued estimates for Biogen’s Q1 2025 earnings at $3.66 EPS, Q2 2025 earnings at $3.53 EPS, Q3 2025 earnings at $3.94 EPS, Q4 2025 earnings at $4.07 EPS, FY2025 earnings at $15.19 EPS and FY2026 earnings at $18.00 EPS.

Several other equities research analysts have also recently commented on BIIB. Barclays lowered their target price on Biogen from $215.00 to $200.00 and set an “equal weight” rating for the company in a report on Thursday, April 25th. HC Wainwright lowered their price objective on shares of Biogen from $325.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $364.00 target price on shares of Biogen in a research report on Tuesday, March 5th. BTIG Research restated a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. Finally, William Blair reiterated an “outperform” rating on shares of Biogen in a report on Monday, April 1st. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $293.88.

Biogen Stock Performance

BIIB stock opened at $215.50 on Monday. Biogen has a 1-year low of $189.44 and a 1-year high of $319.76. The company has a current ratio of 2.10, a quick ratio of 1.32 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $212.48 and a 200-day moving average price of $233.02. The firm has a market cap of $31.38 billion, a PE ratio of 26.90, a price-to-earnings-growth ratio of 2.13 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.22. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. Biogen’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.40 earnings per share.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BIIB. Primecap Management Co. CA raised its position in shares of Biogen by 1.6% in the fourth 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 in the last quarter. Vanguard Group Inc. boosted its position in shares of Biogen by 18.2% during the 4th quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after acquiring an additional 2,218,744 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of 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 acquiring an additional 27,951 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Biogen by 2.8% during the third quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after purchasing an additional 45,437 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Biogen by 4.3% in the third quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock worth $383,745,000 after purchasing an additional 61,814 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the transaction, the insider now directly owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Biogen news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the transaction, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric K. Rowinsky purchased 455 shares of the stock in a transaction dated Thursday, February 15th. The stock was purchased 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 of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders have sold a total of 882 shares of company stock worth $202,030 over the last ninety days. 0.60% of the stock is currently owned by company insiders.

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.