Biogen Inc. (NASDAQ:BIIB) Expected to Earn Q2 2022 Earnings of $4.37 Per Share

Biogen Inc. (NASDAQ:BIIB) – Stock analysts at Wedbush lowered their Q2 2022 EPS estimates for shares of Biogen in a report issued on Wednesday, January 12th. Wedbush analyst L. Chico now forecasts that the biotechnology company will earn $4.37 per share for the quarter, down from their previous estimate of $4.40. Wedbush currently has a “Neutral” rating and a $195.00 price target on the stock. Wedbush also issued estimates for Biogen’s Q3 2022 earnings at $3.71 EPS, Q4 2022 earnings at $5.07 EPS, FY2022 earnings at $16.69 EPS, FY2023 earnings at $17.14 EPS, FY2024 earnings at $18.41 EPS, FY2025 earnings at $18.21 EPS and FY2026 earnings at $17.80 EPS.

Several other research firms have also recently commented on BIIB. Barclays lowered their target price on shares of Biogen from $395.00 to $290.00 and set an “equal weight” rating for the company in a research note on Friday, October 8th. Truist Securities lowered their target price on shares of Biogen from $502.00 to $343.00 and set a “buy” rating for the company in a research note on Monday, January 10th. The Goldman Sachs Group began coverage on shares of Biogen in a research note on Monday, December 6th. They issued a “neutral” rating and a $271.00 target price for the company. Robert W. Baird reaffirmed a “neutral” rating and issued a $258.00 target price on shares of Biogen in a research note on Monday, January 3rd. Finally, Royal Bank of Canada lowered their target price on shares of Biogen from $295.00 to $277.00 and set a “sector perform” rating for the company in a research note on Friday, November 19th. Seventeen analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Biogen presently has an average rating of “Buy” and an average target price of $322.99.

Shares of BIIB opened at $239.30 on Friday. The stock has a market cap of $35.15 billion, a price-to-earnings ratio of 23.41, a price-to-earnings-growth ratio of 1.14 and a beta of 0.44. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.70 and a quick ratio of 1.38. Biogen has a 1-year low of $217.10 and a 1-year high of $468.55. The firm has a 50 day simple moving average of $243.57 and a 200-day simple moving average of $290.04.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, October 19th. The biotechnology company reported $4.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.09 by $0.68. Biogen had a net margin of 13.93% and a return on equity of 28.36%. The business had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the company posted $8.84 EPS. The company’s revenue was down 17.7% on a year-over-year basis.

Several large investors have recently made changes to their positions in BIIB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Biogen by 11.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,212 shares of the biotechnology company’s stock valued at $9,769,000 after buying an additional 2,962 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Biogen during the 2nd quarter valued at about $1,358,000. Toronto Dominion Bank grew its position in shares of Biogen by 0.7% during the 2nd quarter. Toronto Dominion Bank now owns 86,533 shares of the biotechnology company’s stock valued at $29,962,000 after buying an additional 644 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in shares of Biogen by 3.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,471 shares of the biotechnology company’s stock valued at $1,202,000 after buying an additional 120 shares during the last quarter. Finally, Larson Financial Group LLC bought a new stake in shares of Biogen during the 2nd quarter valued at about $27,000. 82.61% of the stock is owned by institutional investors and hedge funds.

Biogen Company Profile

Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis; SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of severe plaque psoriasis.

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Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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