Wedbush Issues Negative Outlook for Biogen Earnings

Biogen Inc. (NASDAQ:BIIB) – Analysts at Wedbush reduced their Q4 2024 earnings per share (EPS) estimates for shares of Biogen in a report released on Thursday, January 23rd. Wedbush analyst L. Chico now anticipates that the biotechnology company will post earnings per share of $3.15 for the quarter, down from their previous forecast of $3.29. The consensus estimate for Biogen’s current full-year earnings is $16.41 per share. Wedbush also issued estimates for Biogen’s Q1 2025 earnings at $3.97 EPS and FY2028 earnings at $19.08 EPS.

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

Other equities analysts have also recently issued research reports about the stock. StockNews.com cut shares of Biogen from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 28th. Barclays decreased their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. BMO Capital Markets cut Biogen from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $230.00 to $164.00 in a research note on Friday, December 20th. UBS Group reduced their price target on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research note on Thursday, October 3rd. Finally, Royal Bank of Canada lowered their price objective on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Sixteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $230.00.

Biogen Stock Up 1.8 %

Shares of NASDAQ:BIIB opened at $146.20 on Friday. Biogen has a 1 year low of $139.71 and a 1 year high of $251.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The stock’s 50-day moving average is $151.93 and its 200 day moving average is $181.95. The company has a market cap of $21.30 billion, a PE ratio of 13.21, a P/E/G ratio of 1.64 and a beta of -0.07.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC bought a new stake in shares of Biogen in the third quarter valued at about $33,000. Venturi Wealth Management LLC boosted its stake in Biogen by 73.8% in the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 93 shares in the last quarter. Itau Unibanco Holding S.A. grew its holdings in Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after purchasing an additional 90 shares during the last quarter. FSA Wealth Management LLC acquired a new position in shares of Biogen during the third quarter worth $74,000. Finally, TD Private Client Wealth LLC lifted its holdings in shares of Biogen by 25.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 87.93% 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.