Q1 2022 EPS Estimates for Biogen Inc. Cut by Analyst (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIB) – Equities research analysts at Wedbush lowered their Q1 2022 earnings estimates for shares of Biogen in a research report issued to clients and investors on Tuesday, June 8th. Wedbush analyst L. Chico now anticipates that the biotechnology company will post earnings of $3.99 per share for the quarter, down from their prior forecast of $6.19. Wedbush has a “Neutral” rating and a $245.00 price target on the stock. Wedbush also issued estimates for Biogen’s Q2 2022 earnings at $4.31 EPS, Q3 2022 earnings at $4.33 EPS, Q4 2022 earnings at $5.83 EPS, FY2022 earnings at $18.44 EPS, FY2023 earnings at $22.16 EPS, FY2024 earnings at $28.89 EPS and FY2025 earnings at $30.83 EPS.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, April 21st. The biotechnology company reported $5.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.06 by $0.28. The firm had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $2.67 billion. Biogen had a return on equity of 42.04% and a net margin of 23.89%. The company’s quarterly revenue was down 23.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $9.14 EPS.

Several other equities analysts have also recently weighed in on BIIB. Bank of America raised Biogen from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $235.00 to $400.00 in a report on Monday. Raymond James upgraded Biogen from an “underperform” rating to a “market perform” rating in a research note on Monday. Cantor Fitzgerald decreased their price target on Biogen from $278.00 to $268.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 17th. Jefferies Financial Group lifted their price target on Biogen from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, UBS Group upgraded Biogen from a “neutral” rating to a “buy” rating and set a $463.00 price target on the stock in a research note on Thursday. Sixteen investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $374.34.

Shares of NASDAQ BIIB opened at $414.71 on Friday. The firm has a market cap of $62.44 billion, a PE ratio of 21.76, a PEG ratio of 1.87 and a beta of 0.44. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.12 and a quick ratio of 1.75. The firm has a fifty day moving average of $282.68. Biogen has a fifty-two week low of $223.25 and a fifty-two week high of $468.55.

In other news, Director Brian S. Posner sold 360 shares of the business’s stock in a transaction dated Friday, June 4th. The stock was sold at an average price of $274.17, for a total value of $98,701.20. Following the transaction, the director now directly owns 7,400 shares of the company’s stock, valued at approximately $2,028,858. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Alfred Sandrock sold 7,672 shares of the business’s stock in a transaction dated Monday, June 7th. The shares were sold at an average price of $440.00, for a total value of $3,375,680.00. Following the completion of the transaction, the insider now directly owns 2,919 shares in the company, valued at $1,284,360. The disclosure for this sale can be found here. Insiders own 0.62% of the company’s stock.

Large investors have recently made changes to their positions in the company. Eqis Capital Management Inc. raised its stake in Biogen by 0.8% during the 1st quarter. Eqis Capital Management Inc. now owns 4,944 shares of the biotechnology company’s stock worth $1,383,000 after buying an additional 39 shares during the period. Hudock Inc. raised its stake in Biogen by 40.0% during the 4th quarter. Hudock Inc. now owns 140 shares of the biotechnology company’s stock worth $34,000 after buying an additional 40 shares during the period. NBT Bank N A NY raised its stake in Biogen by 4.5% during the 1st quarter. NBT Bank N A NY now owns 930 shares of the biotechnology company’s stock worth $260,000 after buying an additional 40 shares during the period. Kendall Capital Management raised its stake in Biogen by 2.4% during the 1st quarter. Kendall Capital Management now owns 1,675 shares of the biotechnology company’s stock worth $469,000 after buying an additional 40 shares during the period. Finally, Stephens Inc. AR raised its stake in Biogen by 0.3% during the 1st quarter. Stephens Inc. AR now owns 11,915 shares of the biotechnology company’s stock worth $3,333,000 after buying an additional 40 shares during the period. 85.10% of the stock is currently owned by institutional investors.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.

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Earnings History and Estimates for Biogen (NASDAQ:BIIB)

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