Biogen (NASDAQ:BIIB – Get Free Report) released its quarterly earnings results on Wednesday. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22, Briefing.com reports. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the company earned $3.40 EPS. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. Biogen updated its FY24 guidance to $15.00-16.00 EPS and its FY 2024 guidance to 15.000-16.000 EPS.
Biogen Stock Up 0.2 %
BIIB opened at $202.46 on Friday. The firm’s 50 day simple moving average is $212.76 and its two-hundred day simple moving average is $234.17. The company 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. Biogen has a 1-year low of $189.44 and a 1-year high of $319.76. The company has a current ratio of 2.10, a quick ratio of 1.26 and a debt-to-equity ratio of 0.41.
Insider Activity
In related news, insider Priya Singhal sold 262 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the sale, the insider now directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Biogen news, Director Eric K. Rowinsky bought 455 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Priya Singhal sold 262 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now directly owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The disclosure for this sale can be found here. Insiders sold a total of 882 shares of company stock valued at $202,030 in the last 90 days. Company insiders own 0.60% of the company’s stock.
Analyst Upgrades and Downgrades
Read Our Latest Analysis on Biogen
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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