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

Biogen Inc. (NASDAQ:BIIB) – William Blair lifted their Q2 2024 EPS estimates for shares of Biogen in a research note issued on Thursday, April 25th. William Blair analyst M. Minter now forecasts that the biotechnology company will post earnings of $3.79 per share for the quarter, up from their prior 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 weighed in on BIIB. Piper Sandler decreased their target price on shares of Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a research note on Wednesday, February 14th. Cantor Fitzgerald restated an “overweight” rating and issued a $311.00 price objective on shares of Biogen in a research note on Tuesday, February 20th. Wedbush upped their price objective on Biogen from $213.00 to $215.00 and gave the stock a “neutral” rating in a research note on Thursday. Truist Financial restated a “buy” rating and issued a $340.00 price objective on shares of Biogen in a research note on Monday, March 25th. Finally, HC Wainwright dropped their target price on shares of Biogen from $325.00 to $300.00 and set a “buy” rating for the company in a report on Thursday. Ten equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $293.88.

Biogen Price Performance

Shares of BIIB opened at $202.46 on Friday. The firm has a market cap of $29.43 billion, a PE ratio of 25.28, a P/E/G ratio of 1.92 and a beta of -0.02. The company has a current ratio of 2.10, a quick ratio of 1.26 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $212.76 and a two-hundred day simple moving average of $234.17. Biogen has a 1-year low of $189.44 and a 1-year high of $319.76.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.45 by $0.22. The business had revenue of $2.29 billion during 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%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.40 EPS.

Hedge Funds Weigh In On Biogen

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

Insider Activity at Biogen

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