Wedbush Research Analysts Cut Earnings Estimates for Biogen

Biogen Inc. (NASDAQ:BIIB) – Stock analysts at Wedbush decreased their FY2024 EPS estimates for shares of Biogen in a research report issued to clients and investors on Thursday, January 23rd. Wedbush analyst L. Chico now expects that the biotechnology company will post earnings of $16.18 per share for the year, down from their previous forecast of $16.32. The consensus estimate for Biogen’s current full-year earnings is $16.41 per share. Wedbush also issued estimates for Biogen’s Q2 2025 earnings at $4.03 EPS, Q3 2025 earnings at $4.11 EPS, Q4 2025 earnings at $4.12 EPS, FY2025 earnings at $16.22 EPS, FY2026 earnings at $17.22 EPS, FY2027 earnings at $18.30 EPS and FY2029 earnings at $19.40 EPS.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 EPS for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period last year, the business posted $4.36 EPS. Biogen’s quarterly revenue was down 2.5% on a year-over-year basis.

BIIB has been the subject of a number of other reports. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. Robert W. Baird raised their target price on shares of Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research note on Friday, November 15th. Bank of America reiterated a “neutral” rating and issued a $178.00 target price on shares of Biogen in a research note on Tuesday, December 10th. TD Cowen lowered their price objective on shares of Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Finally, Jefferies Financial Group lowered Biogen from a “buy” rating to a “hold” rating and reduced their target price for the stock from $250.00 to $180.00 in a research note on Monday, December 9th. Sixteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $228.80.

Biogen Price Performance

BIIB opened at $145.49 on Monday. The company has a market capitalization of $21.20 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.64 and a beta of -0.07. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen has a 12-month low of $139.71 and a 12-month high of $251.99. The business’s fifty day simple moving average is $151.75 and its 200-day simple moving average is $180.64.

Institutional Investors Weigh In On Biogen

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Inspire Trust Co. N.A. increased its position in shares of Biogen by 58.5% during the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock worth $2,113,000 after purchasing an additional 4,025 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Biogen by 0.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after buying an additional 111 shares during the period. Centre Asset Management LLC increased its position in shares of Biogen by 7.7% during the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock valued at $7,880,000 after acquiring an additional 3,698 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Biogen by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after acquiring an additional 12,319 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Biogen by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock worth $32,687,000 after acquiring an additional 5,270 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

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.