Research Analysts Set Expectations for Biogen Q4 Earnings

Biogen Inc. (NASDAQ:BIIB) – Investment analysts at Wedbush cut their Q4 2024 earnings per share estimates for shares of Biogen in a research note issued on Thursday, January 23rd. Wedbush analyst L. Chico now expects that the biotechnology company will post earnings of $3.15 per share 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.

Several other equities research analysts have also recently weighed in on BIIB. Robert W. Baird increased their price objective on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Truist Financial decreased their price target on shares of Biogen from $302.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Jefferies Financial Group cut shares of Biogen from a “buy” rating to a “hold” rating and reduced their target price for the company from $250.00 to $180.00 in a research note on Monday, December 9th. UBS Group cut their price target on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Finally, Oppenheimer decreased their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Sixteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $230.00.

Biogen Stock Up 0.6 %

Biogen stock opened at $143.67 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. Biogen has a fifty-two week low of $139.71 and a fifty-two week high of $251.99. The firm has a fifty day moving average price of $152.63 and a two-hundred day moving average price of $182.79. The firm has a market cap of $20.94 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.64 and a beta of -0.07.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the prior year, the firm posted $4.36 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis.

Institutional Investors Weigh In On Biogen

Hedge funds have recently modified their holdings of the business. Inspire Trust Co. N.A. boosted its stake in Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after purchasing an additional 4,025 shares during the period. Assenagon Asset Management S.A. boosted its position in Biogen by 0.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after acquiring an additional 111 shares during the last quarter. Centre Asset Management LLC grew its stake in shares of Biogen by 7.7% during the 4th quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after acquiring an additional 3,698 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after acquiring an additional 12,319 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Biogen by 3.2% in the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock worth $32,687,000 after purchasing an additional 5,270 shares in the last quarter. Institutional investors and hedge funds own 87.93% 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.