Biogen (NASDAQ:BIIB – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 15.000-16.000 for the period, compared to the consensus estimate of 15.460. The company issued revenue guidance of -. Biogen also updated its FY24 guidance to $15.00-16.00 EPS.
Biogen Price Performance
Shares of NASDAQ:BIIB traded down $1.76 during midday trading on Thursday, reaching $200.23. 819,588 shares of the company were exchanged, compared to its average volume of 1,186,593. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average is $213.18 and its two-hundred day moving average is $234.39. Biogen has a one year low of $189.44 and a one year high of $319.76. The stock has a market cap of $29.11 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 1.84 and a beta of -0.02.
Biogen (NASDAQ:BIIB – Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. Biogen’s revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.40 earnings per share. As a group, analysts predict that Biogen will post 15.47 earnings per share for the current year.
Analyst Upgrades and Downgrades
Read Our Latest Stock Report on BIIB
Insider Activity
In other news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the sale, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction that occurred on Monday, February 12th. The shares were 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 in the company, valued at approximately $1,081,356.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric K. Rowinsky bought 455 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the purchase, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 882 shares of company stock worth $202,030. Corporate insiders own 0.60% 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.
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