Biogen (BIIB) Scheduled to Post Earnings on Wednesday

Biogen (NASDAQ:BIIB) is scheduled to be releasing its earnings data before the market opens on Wednesday, October 30th. Analysts expect Biogen to post earnings of $3.80 per share for the quarter. Biogen has set its FY24 guidance at $15.75-16.25 EPS and its FY 2024 guidance at 15.750-16.250 EPS.Persons that wish to register for the company’s earnings conference call can do so using this link.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. Biogen had a net margin of 11.98% and a return on equity of 15.71%. The company had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter in the prior year, the company posted $4.02 EPS. The business’s revenue was up .4% on a year-over-year basis. On average, analysts expect Biogen to post $16 EPS for the current fiscal year and $17 EPS for the next fiscal year.

Biogen Trading Down 1.2 %

Shares of BIIB stock opened at $181.69 on Monday. Biogen has a 52-week low of $181.24 and a 52-week high of $268.30. The stock has a market cap of $26.46 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 1.87 and a beta of -0.06. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. The firm has a fifty day moving average of $195.28 and a 200-day moving average of $210.15.

Insider Activity

In related news, insider Priya Singhal sold 431 shares of Biogen stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BIIB. Piper Sandler dropped their price objective on shares of Biogen from $335.00 to $313.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. BMO Capital Markets dropped their target price on shares of Biogen from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Thursday, October 17th. Truist Financial reiterated a “buy” rating and set a $302.00 target price (down previously from $340.00) on shares of Biogen in a research report on Monday, August 5th. 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. Finally, Raymond James reiterated a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $271.39.

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.