Biogen (NASDAQ:BIIB) Updates FY 2024 Earnings Guidance

Biogen (NASDAQ:BIIB) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 15.000-16.000 for the period, compared to the consensus earnings per share estimate of 15.460. The company issued revenue guidance of -. Biogen also updated its FY24 guidance to $15.00-16.00 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. HC Wainwright dropped their price objective on Biogen from $325.00 to $300.00 and set a buy rating on the stock in a research note on Thursday. Bank Of America (Bofa) lowered their price target on Biogen from $290.00 to $280.00 and set a neutral rating on the stock in a research note on Monday, February 12th. Needham & Company LLC restated a buy rating and set a $294.00 price target on shares of Biogen in a research note on Wednesday. StockNews.com lowered Biogen from a buy rating to a hold rating in a research note on Tuesday, February 20th. Finally, Robert W. Baird lowered their price target on Biogen from $333.00 to $316.00 and set an outperform rating on the stock in a research note on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Biogen has an average rating of Moderate Buy and an average target price of $293.88.

Biogen Stock Up 3.2 %

BIIB stock traded up $6.44 during trading hours on Friday, reaching $208.90. 1,894,098 shares of the stock were exchanged, compared to its average volume of 1,185,437. The firm’s 50-day moving average is $212.55 and its 200-day moving average is $233.78. The company has a market cap of $30.42 billion, a price-to-earnings ratio of 26.08, a PEG ratio of 2.06 and a beta of -0.02. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.26. Biogen has a 12 month low of $189.44 and a 12 month high of $319.76.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Wednesday, April 24th. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22. Biogen had a net margin of 12.07% and a return on equity of 14.83%. The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same period in the prior year, the business posted $3.40 EPS. The company’s quarterly revenue was down 7.0% on a year-over-year basis. On average, equities research analysts expect that Biogen will post 15.55 earnings per share for the current year.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 262 shares of the firm’s 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 transaction, the insider now directly owns 4,886 shares of the company’s stock, valued at $1,080,929.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Biogen news, insider Priya Singhal sold 262 shares of the firm’s 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 sale, the insider now owns 4,886 shares in the company, valued at $1,080,929.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Eric K. Rowinsky bought 455 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is currently owned by company insiders.

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.