Wedbush Issues Negative Estimate for Biogen Earnings

Biogen Inc. (NASDAQ:BIIB) – Equities research analysts at Wedbush dropped their Q4 2024 earnings per share estimates for shares of Biogen in a research note issued on Wednesday, October 30th. Wedbush analyst L. Chico now anticipates that the biotechnology company will post earnings of $3.29 per share for the quarter, down from their prior forecast of $3.58. Wedbush has a “Neutral” rating and a $205.00 price target on the stock. The consensus estimate for Biogen’s current full-year earnings is $16.36 per share. Wedbush also issued estimates for Biogen’s Q1 2025 earnings at $4.02 EPS, Q2 2025 earnings at $4.02 EPS, Q3 2025 earnings at $3.93 EPS, Q4 2025 earnings at $4.11 EPS, FY2025 earnings at $16.08 EPS and FY2026 earnings at $16.73 EPS.

BIIB has been the topic of several other reports. TD Cowen cut their target price on Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday. Scotiabank cut their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a report on Friday, August 2nd. Wells Fargo & Company cut their target price on Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Robert W. Baird cut their target price on Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a report on Monday, July 29th. Finally, UBS Group cut their target price on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a report on Thursday, October 3rd. Ten equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $262.83.

Biogen Stock Down 0.1 %

Shares of BIIB opened at $173.79 on Monday. The company has a market capitalization of $25.32 billion, a PE ratio of 15.70, a PEG ratio of 1.73 and a beta of -0.06. Biogen has a 12 month low of $173.14 and a 12 month high of $268.30. The stock’s 50-day moving average price is $192.71 and its two-hundred day moving average price is $209.59. The company has a current ratio of 1.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.28.

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

Insider Buying and Selling at Biogen

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. 0.16% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Biogen

Several institutional investors and hedge funds have recently bought and sold shares of BIIB. Vanguard Group Inc. grew its holdings in Biogen by 15.0% during the first quarter. Vanguard Group Inc. now owns 16,570,398 shares of the biotechnology company’s stock valued at $3,573,075,000 after purchasing an additional 2,163,068 shares during the period. International Assets Investment Management LLC lifted its position in shares of Biogen by 19,722.9% during the third quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock worth $695,870,000 after acquiring an additional 357,181 shares in the last quarter. RA Capital Management L.P. lifted its position in shares of Biogen by 39.0% during the first quarter. RA Capital Management L.P. now owns 740,727 shares of the biotechnology company’s stock worth $159,723,000 after acquiring an additional 207,835 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Biogen by 1,227.4% during the first quarter. SG Americas Securities LLC now owns 176,262 shares of the biotechnology company’s stock worth $38,007,000 after acquiring an additional 162,983 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Biogen by 27.2% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 570,533 shares of the biotechnology company’s stock worth $123,024,000 after acquiring an additional 122,101 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

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.