Biogen (NASDAQ:BIIB – Get Free Report) 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 that are interested in participating in the company’s conference call can do so using this link.
Biogen (NASDAQ:BIIB – Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 EPS for the quarter, missing analysts’ consensus estimates of $3.18 by ($0.23). The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same period in the prior year, the firm posted $4.05 earnings per share. On average, analysts expect Biogen to post $15 EPS for the current fiscal year and $17 EPS for the next fiscal year.
Biogen Stock Performance
Shares of BIIB opened at $194.11 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00. The stock has a 50 day moving average price of $214.22 and a two-hundred day moving average price of $235.11. The firm has a market capitalization of $28.22 billion, a P/E ratio of 24.32, a P/E/G ratio of 1.85 and a beta of -0.02. Biogen has a 52 week low of $189.44 and a 52 week high of $319.76.
Insider Buying and Selling
Analysts Set New Price Targets
Several research firms have recently issued reports on BIIB. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, April 1st. BTIG Research reaffirmed a “neutral” rating on shares of Biogen in a report on Sunday, January 7th. Oppenheimer reduced their target price on Biogen from $290.00 to $270.00 and set an “outperform” rating for the company in a report on Friday. Piper Sandler reduced their target price on Biogen from $350.00 to $325.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $311.00 price objective on shares of Biogen in a report on Tuesday, February 20th. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $295.58.
View Our Latest Report on BIIB
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.
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