Wedbush Brokers Decrease Earnings Estimates for Biogen

Biogen Inc. (NASDAQ:BIIB) – Investment analysts at Wedbush cut their Q4 2024 earnings per share estimates for Biogen in a research note issued on Wednesday, October 30th. Wedbush analyst L. Chico now anticipates that the biotechnology company will earn $3.29 per share for the quarter, down from their previous estimate 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 $16.40 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.

Other research analysts have also recently issued reports about the stock. TD Cowen reduced their target price on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and issued a $270.00 price target on shares of Biogen in a report on Wednesday, October 30th. Oppenheimer lowered their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Scotiabank cut their target price on Biogen from $275.00 to $244.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Royal Bank of Canada dropped their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $261.58.

Biogen Trading Up 2.0 %

Shares of BIIB opened at $176.93 on Monday. Biogen has a 12 month low of $170.71 and a 12 month high of $268.30. The stock’s 50-day moving average is $191.56 and its two-hundred day moving average is $209.34. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The stock has a market cap of $25.78 billion, a PE ratio of 15.98, a P/E/G ratio of 1.65 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate 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 net margin of 16.81% and a return on equity of 14.98%. The company’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.36 EPS.

Institutional Investors Weigh In On Biogen

A number of institutional investors have recently added to or reduced their stakes in BIIB. Norden Group LLC lifted its holdings in shares of Biogen by 25.2% in the first quarter. Norden Group LLC now owns 1,440 shares of the biotechnology company’s stock valued at $311,000 after buying an additional 290 shares during the period. Private Advisor Group LLC boosted its position in shares of Biogen by 4.9% during the 1st quarter. Private Advisor Group LLC now owns 4,833 shares of the biotechnology company’s stock valued at $1,042,000 after purchasing an additional 224 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Biogen by 15.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,408 shares of the biotechnology company’s stock worth $735,000 after purchasing an additional 465 shares during the last quarter. BNP Paribas bought a new stake in shares of Biogen in the 1st quarter worth approximately $151,000. Finally, Daiwa Securities Group Inc. lifted its stake in Biogen by 10.6% during the first quarter. Daiwa Securities Group Inc. now owns 22,651 shares of the biotechnology company’s stock valued at $4,884,000 after purchasing an additional 2,172 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Biogen

In related news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the sale, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. The trade was 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 available through the SEC website. Company insiders own 0.16% 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.