William Blair Has Strong Forecast for Biogen FY2024 Earnings

Biogen Inc. (NASDAQ:BIIB) – Analysts at William Blair upped their FY2024 earnings estimates for shares of Biogen in a research note issued to investors on Wednesday, October 30th. William Blair analyst M. Minter now forecasts that the biotechnology company will earn $16.36 per share for the year, up from their prior estimate of $15.92. The consensus estimate for Biogen’s current full-year earnings is $16.36 per share. William Blair also issued estimates for Biogen’s Q3 2025 earnings at $3.47 EPS and FY2025 earnings at $14.94 EPS.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping analysts’ consensus estimates of $3.77 by $0.31. The firm had revenue of $2.47 billion during 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 for the quarter was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.36 EPS.

A number of other equities analysts also recently commented on BIIB. StockNews.com upgraded shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $292.00 target price on shares of Biogen in a report on Monday, September 9th. Barclays dropped their target price on shares of Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Royal Bank of Canada dropped their target price on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating on the stock in a report on Friday, October 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $270.00 target price on shares of Biogen in a report on Wednesday, October 30th. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.58.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $173.52 on Monday. The firm has a market cap of $25.29 billion, a PE ratio of 15.67, a PEG ratio of 1.73 and a beta of -0.06. The company has a current ratio of 1.26, a quick ratio of 1.48 and a debt-to-equity ratio of 0.28. Biogen has a 1-year low of $170.71 and a 1-year high of $268.30. The company has a fifty day moving average price of $192.09 and a 200 day moving average price of $209.47.

Insider Transactions at Biogen

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 value of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at $1,085,633.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.16% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Plato Investment Management Ltd increased its stake in Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 53 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in shares of Biogen during the second quarter worth $33,000. Ashton Thomas Securities LLC bought a new stake in shares of Biogen during the third quarter worth $33,000. EntryPoint Capital LLC bought a new stake in shares of Biogen during the first quarter worth $36,000. Finally, Versant Capital Management Inc grew its stake in shares of Biogen by 123.2% during the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock worth $36,000 after buying an additional 85 shares during the last quarter. 87.93% of the stock is owned by institutional investors.

Biogen Company Profile

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.