Equities Analysts Issue Forecasts for Biogen Inc.’s FY2021 Earnings (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIB) – Stock analysts at Truist Securities lowered their FY2021 earnings per share (EPS) estimates for Biogen in a research note issued to investors on Tuesday, January 11th. Truist Securities analyst R. Karnauskas now anticipates that the biotechnology company will post earnings per share of $18.89 for the year, down from their prior estimate of $18.91. Truist Securities has a “Buy” rating and a $343.00 price target on the stock. Truist Securities also issued estimates for Biogen’s FY2023 earnings at $17.84 EPS, FY2024 earnings at $18.91 EPS and FY2025 earnings at $19.10 EPS.

BIIB has been the subject of a number of other reports. Guggenheim cut Biogen from a “buy” rating to a “neutral” rating and cut their price objective for the company from $290.00 to $202.00 in a report on Thursday. SVB Leerink cut their price target on Biogen from $450.00 to $325.00 and set an “outperform” rating for the company in a report on Monday, December 20th. TheStreet cut Biogen from a “b-” rating to a “c+” rating in a report on Monday, October 4th. Oppenheimer dropped their price objective on Biogen from $390.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, December 22nd. Finally, Mizuho decreased their target price on Biogen from $270.00 to $207.00 and set a “neutral” rating for the company in a research report on Wednesday. Seventeen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Biogen currently has a consensus rating of “Buy” and a consensus target price of $322.99.

BIIB opened at $239.30 on Friday. Biogen has a fifty-two week low of $217.10 and a fifty-two week high of $468.55. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.38. The firm’s fifty day moving average price is $243.57 and its two-hundred day moving average price is $290.04. The company has a market capitalization of $35.15 billion, a P/E ratio of 23.41, a P/E/G ratio of 1.14 and a beta of 0.44.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Tuesday, October 19th. The biotechnology company reported $4.77 EPS for the quarter, beating the consensus estimate of $4.09 by $0.68. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.67 billion. Biogen had a return on equity of 28.36% and a net margin of 13.93%. The company’s revenue for the quarter was down 17.7% compared to the same quarter last year. During the same quarter last year, the company posted $8.84 earnings per share.

Several institutional investors have recently bought and sold shares of BIIB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Biogen by 11.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,212 shares of the biotechnology company’s stock worth $9,769,000 after buying an additional 2,962 shares during the last quarter. Edgestream Partners L.P. bought a new position in Biogen in the 2nd quarter worth $1,358,000. Toronto Dominion Bank raised its holdings in Biogen by 0.7% during the second quarter. Toronto Dominion Bank now owns 86,533 shares of the biotechnology company’s stock valued at $29,962,000 after acquiring an additional 644 shares during the period. Mercer Global Advisors Inc. ADV raised its holdings in Biogen by 3.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 3,471 shares of the biotechnology company’s stock valued at $1,202,000 after acquiring an additional 120 shares during the period. Finally, Larson Financial Group LLC bought a new stake in Biogen during the second quarter valued at about $27,000. Institutional investors own 82.61% of the company’s stock.

Biogen Company Profile

Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis; SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of severe plaque psoriasis.

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Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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