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

Biogen Inc. (NASDAQ:BIIB) – Equities research analysts at William Blair lifted their Q2 2024 earnings per share estimates for shares of Biogen in a research report issued on Thursday, April 25th. William Blair analyst M. Minter now anticipates that the biotechnology company will post earnings per share of $3.79 for the quarter, up from their prior forecast 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.

BIIB has been the subject of several other research reports. BTIG Research restated a “neutral” rating on shares of Biogen in a research report on Sunday, January 7th. Robert W. Baird cut their target price on Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. BMO Capital Markets cut their target price on Biogen from $295.00 to $285.00 and set an “outperform” rating for the company in a research report on Wednesday, February 14th. Oppenheimer cut their target price on Biogen from $290.00 to $270.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. Finally, Truist Financial restated a “buy” rating and set a $340.00 target price on shares of Biogen in a research report on Monday, March 25th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $293.88.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $202.46 on Friday. Biogen has a 1-year low of $189.44 and a 1-year high of $319.76. The firm has a market capitalization of $29.43 billion, a PE ratio of 25.28, a PEG ratio of 1.92 and a beta of -0.02. The business’s 50 day moving average is $212.76 and its 200-day moving average is $234.17. The company has a current ratio of 2.10, a quick ratio of 1.26 and a debt-to-equity ratio of 0.41.

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

Institutional Trading of Biogen

A number of institutional investors have recently modified their holdings of the company. Primecap Management Co. CA lifted its holdings in shares of Biogen by 1.6% in the fourth quarter. Primecap Management Co. CA now owns 16,264,481 shares of the biotechnology company’s stock valued at $4,208,760,000 after purchasing an additional 251,915 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Biogen by 18.2% in the fourth quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock valued at $3,728,185,000 after purchasing an additional 2,218,744 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Biogen by 0.5% in the third quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company’s stock valued at $1,381,251,000 after purchasing an additional 27,951 shares in the last quarter. Northern Trust Corp raised its holdings in Biogen by 2.8% during the third quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company’s stock worth $422,276,000 after acquiring an additional 45,437 shares in the last quarter. Finally, Morgan Stanley boosted its position in Biogen by 4.3% during the third quarter. Morgan Stanley now owns 1,493,113 shares of the biotechnology company’s stock valued at $383,745,000 after purchasing an additional 61,814 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Biogen

In other Biogen news, insider Priya Singhal sold 419 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Priya Singhal sold 419 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was 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 $1,081,356.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was purchased at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 882 shares of company stock valued at $202,030. Company 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.