Biogen (NASDAQ:BIIB – Get Free Report) released its earnings results on Wednesday. The biotechnology company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22, Briefing.com reports. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Biogen had a return on equity of 14.83% and a net margin of 12.07%. Biogen’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.40 EPS. Biogen updated its FY24 guidance to $15.00-16.00 EPS and its FY 2024 guidance to 15.000-16.000 EPS.
Biogen Trading Up 0.2 %
Shares of NASDAQ BIIB opened at $202.46 on Friday. The company has a quick ratio of 1.26, a current ratio of 2.10 and a debt-to-equity ratio of 0.41. Biogen has a 12 month low of $189.44 and a 12 month high of $319.76. The company has a market cap of $29.43 billion, a price-to-earnings ratio of 25.28, a P/E/G ratio of 1.92 and a beta of -0.02. The business has a fifty day simple moving average of $212.76 and a 200-day simple moving average of $234.17.
Insider Buying and Selling
In other Biogen news, insider Priya Singhal sold 419 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now directly owns 4,516 shares of the company’s stock, valued at $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Biogen news, Director Eric K. Rowinsky purchased 455 shares of the stock in a transaction dated Thursday, February 15th. The shares were acquired at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares of the company’s stock, valued at approximately $4,590,777.66. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Priya Singhal sold 419 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $239.45, for a total value of $100,329.55. Following the transaction, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
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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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