Biogen (BIIB) Scheduled to Post Quarterly Earnings on Wednesday

Biogen (NASDAQ:BIIB) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $3.48 per share for the quarter. Biogen has set its FY24 guidance at $15.00-$16.00 EPS and its FY 2024 guidance at 15.000-16.000 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Biogen (NASDAQ:BIIB) last issued its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a return on equity of 14.91% and a net margin of 11.81%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the business earned $4.05 EPS. On average, analysts expect Biogen to post $15 EPS for the current fiscal year and $17 EPS for the next fiscal year.

Biogen Trading Down 0.1 %

Shares of Biogen stock opened at $194.11 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. The firm has a fifty day moving average price of $214.22 and a 200 day moving average price of $235.11. Biogen has a 1 year low of $189.44 and a 1 year high of $319.76. The stock has a market cap of $28.22 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 1.85 and a beta of -0.02.

Analysts Set New Price Targets

BIIB has been the topic of several analyst reports. Bank of America dropped their price target on shares of Biogen from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Royal Bank of Canada restated an “outperform” rating and set a $364.00 price target on shares of Biogen in a research report on Tuesday, March 5th. Bank Of America (Bofa) dropped their target price on shares of Biogen from $290.00 to $280.00 and set a “neutral” rating on the stock in a research report on Monday, February 12th. Robert W. Baird dropped their target price on shares of Biogen from $333.00 to $316.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 14th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Thursday, April 11th. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $295.58.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 262 shares of Biogen stock in a transaction dated 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 is available through the SEC website. In related news, insider Priya Singhal sold 262 shares of Biogen 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 completion of the transaction, 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 available at the SEC website. Also, Director Eric K. Rowinsky acquired 455 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders have sold 882 shares of company stock valued at $202,030 over the last ninety days. Company insiders own 0.60% 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.