FY2024 EPS Estimates for Biogen Lowered by Cantor Fitzgerald

Biogen Inc. (NASDAQ:BIIB) – Analysts at Cantor Fitzgerald reduced their FY2024 earnings estimates for Biogen in a research note issued to investors on Wednesday, February 5th. Cantor Fitzgerald analyst E. Schmidt now expects that the biotechnology company will earn $16.09 per share for the year, down from their prior estimate of $16.14. The consensus estimate for Biogen’s current full-year earnings is $16.43 per share. Cantor Fitzgerald also issued estimates for Biogen’s FY2025 earnings at $17.04 EPS.

BIIB has been the topic of several other reports. HC Wainwright reiterated a “buy” rating and issued a $300.00 target price on shares of Biogen in a research note on Thursday, October 31st. TD Cowen dropped their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Piper Sandler cut shares of Biogen from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $315.00 to $138.00 in a research note on Thursday, January 2nd. Wolfe Research began coverage on shares of Biogen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Finally, Oppenheimer lowered their price objective on Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $228.80.

Biogen Stock Performance

Shares of BIIB stock opened at $142.37 on Thursday. The stock’s 50-day moving average price is $149.88 and its 200 day moving average price is $176.96. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $20.75 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.66 and a beta of -0.08. Biogen has a 52-week low of $139.71 and a 52-week high of $246.44.

Institutional Investors Weigh In On Biogen

Large investors have recently made changes to their positions in the business. Grandfield & Dodd LLC lifted its holdings in shares of Biogen by 5.2% during the 3rd quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after acquiring an additional 62 shares in the last quarter. Quintet Private Bank Europe S.A. raised its position in Biogen by 9.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock valued at $138,000 after purchasing an additional 63 shares during the period. Quent Capital LLC lifted its stake in shares of Biogen by 31.9% during the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 72 shares in the last quarter. TD Private Client Wealth LLC boosted its position in shares of Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after buying an additional 77 shares during the period. Finally, Principal Securities Inc. grew its stake in shares of Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock valued at $52,000 after buying an additional 78 shares in the last quarter. Institutional investors and hedge funds own 87.93% 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.