What is William Blair’s Forecast for Biogen FY2024 Earnings?

Biogen Inc. (NASDAQ:BIIB) – William Blair boosted their FY2024 earnings per share (EPS) estimates for Biogen in a report issued on Wednesday, October 30th. William Blair analyst M. Minter now expects that the biotechnology company will post earnings per share of $16.36 for the year, up from their prior estimate of $15.92. The consensus estimate for Biogen’s current full-year earnings is $16.40 per share. William Blair also issued estimates for Biogen’s Q3 2025 earnings at $3.47 EPS and FY2025 earnings at $14.94 EPS.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a net margin of 16.81% and a return on equity of 14.98%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the prior year, the firm earned $4.36 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis.

Several other brokerages have also recently issued reports on BIIB. Truist Financial restated a “buy” rating and issued a $302.00 price target (down previously from $340.00) on shares of Biogen in a research report on Monday, August 5th. BMO Capital Markets reduced their price objective on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Piper Sandler cut their target price on Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Raymond James reaffirmed a “market perform” rating on shares of Biogen in a report on Thursday, October 10th. Finally, TD Cowen reduced their target price on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $261.58.

Biogen Stock Performance

Shares of Biogen stock opened at $176.93 on Monday. The firm has a market capitalization of $25.78 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.65 and a beta of -0.06. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen has a 52 week low of $170.71 and a 52 week high of $268.30. The firm’s 50 day moving average is $191.56 and its two-hundred day moving average is $209.34.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BIIB. KCM Investment Advisors LLC raised its holdings in Biogen by 1.7% in the 1st quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock worth $637,000 after acquiring an additional 48 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of Biogen by 39.8% during the second quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after buying an additional 49 shares during the last quarter. TFB Advisors LLC boosted its position in shares of Biogen by 2.1% in the first quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock valued at $530,000 after acquiring an additional 50 shares during the period. QRG Capital Management Inc. grew its stake in shares of Biogen by 2.0% in the first quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock worth $568,000 after acquiring an additional 51 shares during the last quarter. Finally, Plato Investment Management Ltd increased its position in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares during the period. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.16% of the company’s stock.

About Biogen

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.