Biogen Inc. (NASDAQ:BIIB) to Post Q2 2024 Earnings of $3.79 Per Share, William Blair Forecasts

Biogen Inc. (NASDAQ:BIIB) – Analysts at William Blair lifted their Q2 2024 earnings estimates for shares of Biogen in a research report issued to clients and investors on Thursday, April 25th. William Blair analyst M. Minter now anticipates that the biotechnology company will post earnings of $3.79 per share for the quarter, up from their previous estimate of $3.53. William Blair has a “Outperform” rating on the stock. The consensus estimate for Biogen’s current full-year earnings is $15.48 per share. William Blair also issued estimates for Biogen’s Q3 2025 earnings at $4.04 EPS and Q4 2025 earnings at $4.40 EPS.

A number of other brokerages have also issued reports on BIIB. Truist Financial reiterated a “buy” rating and set a $340.00 price target on shares of Biogen in a research note on Monday, March 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $311.00 price target on shares of Biogen in a research note on Tuesday, February 20th. Bank of America cut their price target on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Bank Of America (Bofa) cut their price target on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research note on Monday, February 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $294.00 price target on shares of Biogen in a research note on Wednesday. Ten research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.88.

Biogen Stock Up 3.2 %

Shares of NASDAQ:BIIB opened at $208.90 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.26. The firm has a market capitalization of $30.37 billion, a PE ratio of 26.08, a price-to-earnings-growth ratio of 1.92 and a beta of -0.02. The firm’s 50-day moving average is $212.55 and its two-hundred day moving average is $233.78. Biogen has a 1 year low of $189.44 and a 1 year high of $319.76.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.45 by $0.22. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. Biogen had a net margin of 12.07% and a return on equity of 14.83%. Biogen’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.40 EPS.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the transaction, the insider now directly owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Priya Singhal sold 419 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total value of $100,329.55. Following the completion of the sale, the insider now directly owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric K. Rowinsky acquired 455 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders sold 882 shares of company stock valued at $202,030 over the last three months. 0.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Biogen

Several large investors have recently modified their holdings of the company. Stratos Wealth Partners LTD. boosted its holdings in shares of Biogen by 1.1% in the third quarter. Stratos Wealth Partners LTD. now owns 4,032 shares of the biotechnology company’s stock valued at $1,036,000 after acquiring an additional 42 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Biogen by 2.3% during the third quarter. Sequoia Financial Advisors LLC now owns 2,043 shares of the biotechnology company’s stock worth $525,000 after purchasing an additional 45 shares during the last quarter. PAX Financial Group LLC raised its stake in shares of Biogen by 2.9% during the third quarter. PAX Financial Group LLC now owns 1,577 shares of the biotechnology company’s stock worth $405,000 after purchasing an additional 45 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its stake in shares of Biogen by 2.4% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 1,955 shares of the biotechnology company’s stock worth $502,000 after purchasing an additional 45 shares during the last quarter. Finally, Ballentine Partners LLC raised its stake in shares of Biogen by 3.2% during the third quarter. Ballentine Partners LLC now owns 1,528 shares of the biotechnology company’s stock worth $393,000 after purchasing an additional 48 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

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.