Biogen (NASDAQ:BIIB) Issues FY 2024 Earnings Guidance

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Mizuho decreased their price target on shares of Biogen from $355.00 to $277.00 and set a buy rating on the stock in a research note on Thursday, February 22nd. JPMorgan Chase & Co. reduced their target price on shares of Biogen from $270.00 to $240.00 and set a neutral rating on the stock in a research note on Thursday, April 11th. Piper Sandler reduced their target price on shares of Biogen from $350.00 to $325.00 and set an overweight rating on the stock in a research note on Wednesday, February 14th. Barclays reduced their target price on shares of Biogen from $230.00 to $215.00 and set an equal weight rating on the stock in a research note on Thursday, April 4th. Finally, Bank of America reduced their target price on shares of Biogen from $280.00 to $260.00 and set a neutral rating on the stock in a research note on Friday, April 12th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $295.35.

Biogen Trading Up 4.6 %

Shares of BIIB stock traded up $8.81 on Wednesday, reaching $201.99. The company had a trading volume of 3,264,689 shares, compared to its average volume of 1,191,884. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. The stock has a market cap of $29.36 billion, a PE ratio of 25.64, a PEG ratio of 1.85 and a beta of -0.02. The company has a 50-day moving average of $213.55 and a 200-day moving average of $234.62. Biogen has a 12 month low of $189.44 and a 12 month high of $319.76.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $2.47 billion. During the same period in the previous year, the company posted $4.05 earnings per share. On average, equities analysts forecast that Biogen will post 15.48 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Priya Singhal sold 262 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the sale, the insider now directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Eric K. Rowinsky purchased 455 shares of Biogen stock in a transaction on Thursday, February 15th. The stock was purchased at an average price of $222.54 per share, with a total value of $101,255.70. Following the transaction, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Priya Singhal sold 262 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the transaction, the insider now directly owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. In the last three months, insiders sold 882 shares of company stock valued at $202,030. 0.60% of the stock is owned by corporate 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.