Biogen Inc. to Post FY2022 Earnings of $17.83 Per Share, Truist Securities Forecasts (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIB) – Equities researchers at Truist Securities reduced their FY2022 earnings estimates for shares of Biogen in a research report issued on Tuesday, January 11th. Truist Securities analyst R. Karnauskas now forecasts that the biotechnology company will post earnings of $17.83 per share for the year, down from their previous estimate of $18.94. Truist Securities currently has a “Buy” rating and a $343.00 price target on the stock. Truist Securities also issued estimates for Biogen’s FY2026 earnings at $20.38 EPS.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 19th. The biotechnology company reported $4.77 EPS for the quarter, beating analysts’ consensus estimates of $4.09 by $0.68. Biogen had a return on equity of 28.36% and a net margin of 13.93%. The company had revenue of $2.78 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter in the prior year, the firm earned $8.84 EPS. The company’s quarterly revenue was down 17.7% compared to the same quarter last year.

BIIB has been the subject of a number of other research reports. SVB Leerink cut their price objective on Biogen from $450.00 to $325.00 and set an “outperform” rating for the company in a research report on Monday, December 20th. The Goldman Sachs Group began coverage on Biogen in a research report on Monday, December 6th. They set a “neutral” rating and a $271.00 price objective for the company. Jefferies Financial Group restated a “buy” rating on shares of Biogen in a report on Monday, October 18th. BMO Capital Markets began coverage on Biogen in a report on Thursday, November 18th. They issued an “outperform” rating and a $315.00 target price for the company. Finally, Oppenheimer reduced their target price on Biogen from $390.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, December 22nd. Seventeen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $322.99.

Shares of NASDAQ:BIIB opened at $239.30 on Thursday. Biogen has a one year low of $217.10 and a one year high of $468.55. The stock has a fifty day moving average of $243.57 and a 200-day moving average of $290.04. The company has a market capitalization of $35.15 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 1.14 and a beta of 0.44. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.38 and a current ratio of 1.70.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Albion Financial Group UT bought a new stake in shares of Biogen in the second quarter valued at about $26,000. Avondale Wealth Management bought a new position in Biogen during the fourth quarter worth about $26,000. Larson Financial Group LLC bought a new position in Biogen during the second quarter worth about $27,000. Evermay Wealth Management LLC bought a new position in Biogen during the second quarter worth about $28,000. Finally, Viridian Ria LLC bought a new position in Biogen during the third quarter worth about $28,000. Institutional investors and hedge funds own 82.61% of the company’s stock.

Biogen Company Profile

Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis; SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of severe plaque psoriasis.

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Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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