FY2024 Earnings Forecast for Biogen Issued By Zacks Research

Biogen Inc. (NASDAQ:BIIB) – Zacks Research raised their FY2024 earnings estimates for shares of Biogen in a research report issued to clients and investors on Thursday, November 7th. Zacks Research analyst S. Ganoria now forecasts that the biotechnology company will earn $16.29 per share for the year, up from their prior estimate of $16.05. The consensus estimate for Biogen’s current full-year earnings is $16.40 per share. Zacks Research also issued estimates for Biogen’s Q4 2024 earnings at $3.26 EPS, Q1 2025 earnings at $3.85 EPS, Q2 2025 earnings at $4.27 EPS, Q3 2025 earnings at $3.92 EPS, Q4 2025 earnings at $3.85 EPS, FY2025 earnings at $15.89 EPS, Q2 2026 earnings at $4.45 EPS, Q3 2026 earnings at $4.64 EPS and FY2026 earnings at $17.22 EPS.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data 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. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Biogen had a net margin of 16.81% and a return on equity of 14.98%. Biogen’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the company posted $4.36 earnings per share.

A number of other equities research analysts also recently weighed in on the company. Oppenheimer lowered their target price on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Cantor Fitzgerald reissued an “overweight” rating and set a $292.00 target price on shares of Biogen in a research note on Monday, September 9th. Barclays decreased their price target on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Mizuho cut their price objective on shares of Biogen from $277.00 to $251.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. Finally, UBS Group decreased their target price on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a research report on Thursday, October 3rd. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.58.

Biogen Stock Performance

BIIB stock opened at $172.03 on Monday. The firm has a market cap of $25.07 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 1.64 and a beta of -0.06. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $189.71 and a 200-day moving average price of $208.87. Biogen has a 1-year low of $170.71 and a 1-year high of $268.30.

Institutional Investors Weigh In On Biogen

Several institutional investors have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. lifted its stake in Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock worth $40,000 after purchasing an additional 49 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Biogen by 2.0% in the first quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock valued at $568,000 after acquiring an additional 51 shares in the last quarter. Plato Investment Management Ltd increased its position in shares of Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 53 shares during the period. Jacobi Capital Management LLC grew its holdings in shares of Biogen by 3.4% during the 1st quarter. Jacobi Capital Management LLC now owns 1,664 shares of the biotechnology company’s stock worth $359,000 after acquiring an additional 55 shares during the period. Finally, CWM LLC raised its holdings in Biogen by 1.7% in the second quarter. CWM LLC now owns 3,765 shares of the biotechnology company’s stock worth $873,000 after purchasing an additional 62 shares in the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Biogen news, insider Priya Singhal sold 431 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.16% of the company’s stock.

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.