Biogen Inc. Forecasted to Post Q2 2024 Earnings of $3.79 Per Share (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIB) – Analysts at William Blair increased their Q2 2024 EPS estimates for shares of Biogen in a research report issued on Thursday, April 25th. William Blair analyst M. Minter now forecasts that the biotechnology company will post earnings per share of $3.79 for the quarter, up from their previous forecast of $3.53. William Blair has a “Outperform” rating on the stock. The consensus estimate for Biogen’s current full-year earnings is $15.55 per share. William Blair also issued estimates for Biogen’s Q3 2025 earnings at $4.04 EPS and Q4 2025 earnings at $4.40 EPS.

BIIB has been the subject of a number of other reports. Canaccord Genuity Group lowered their price objective on shares of Biogen from $310.00 to $305.00 and set a “buy” rating for the company in a research note on Tuesday, February 20th. Oppenheimer lowered their price target on shares of Biogen from $290.00 to $270.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. Bank Of America (Bofa) cut their price objective on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a report on Monday, February 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $311.00 price objective on shares of Biogen in a research note on Tuesday, February 20th. Finally, Barclays dropped their target price on Biogen from $215.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Thursday. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, Biogen currently has an average rating of “Moderate Buy” and an average target price of $293.88.

Biogen Price Performance

Shares of BIIB stock opened at $208.90 on Friday. Biogen has a twelve month low of $189.44 and a twelve month high of $319.76. The company has a current ratio of 2.10, a quick ratio of 1.26 and a debt-to-equity ratio of 0.41. The stock has a fifty day simple moving average of $212.55 and a two-hundred day simple moving average of $233.57. The stock has a market capitalization of $30.42 billion, a price-to-earnings ratio of 26.08, a P/E/G ratio of 2.06 and a beta of -0.02.

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

Insider Transactions at Biogen

In related news, Director Eric K. Rowinsky acquired 455 shares of Biogen stock in a transaction on Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the purchase, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Eric K. Rowinsky acquired 455 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, 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 this link. Also, insider Priya Singhal sold 419 shares of the business’s stock in a transaction on Monday, February 12th. The shares were 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 $1,081,356.20. The disclosure for this sale can be found here. Insiders have sold 882 shares of company stock worth $202,030 over the last 90 days. 0.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Biogen

Institutional investors have recently modified their holdings of the business. OFI Invest Asset Management purchased a new position in Biogen during the third quarter worth approximately $26,000. Livelsberger Financial Advisory acquired a new stake in Biogen in the 4th quarter valued at $26,000. Rise Advisors LLC acquired a new stake in Biogen in the 1st quarter valued at $27,000. Gladius Capital Management LP purchased a new stake in Biogen in the 3rd quarter worth $28,000. Finally, KB Financial Partners LLC raised its position in Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 62 shares during the period. 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.