Q4 2022 EPS Estimates for Biogen Inc. Reduced by William Blair (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIB) – Investment analysts at William Blair lowered their Q4 2022 earnings per share estimates for shares of Biogen in a note issued to investors on Wednesday, January 12th. William Blair analyst M. Minter now forecasts that the biotechnology company will earn $4.36 per share for the quarter, down from their previous forecast of $4.55.

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

Other analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $453.00 price objective on shares of Biogen in a research note on Thursday, October 21st. JPMorgan Chase & Co. dropped their price objective on shares of Biogen from $324.00 to $276.00 and set a “neutral” rating for the company in a research note on Tuesday, December 21st. Piper Sandler cut shares of Biogen from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $362.00 to $216.00 in a research note on Wednesday. Stifel Nicolaus dropped their price objective on shares of Biogen from $430.00 to $344.00 and set a “buy” rating for the company in a research note on Friday, October 15th. Finally, Barclays decreased their target price on shares of Biogen from $395.00 to $290.00 and set an “equal weight” rating on the stock in a report on Friday, October 8th. Seventeen equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $322.99.

NASDAQ BIIB opened at $239.30 on Thursday. Biogen has a 52-week low of $217.10 and a 52-week high of $468.55. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.38 and a current ratio of 1.70. The firm has a 50-day moving average of $243.57 and a 200-day moving average of $290.04. The stock has a market cap of $35.15 billion, a PE ratio of 23.41, a P/E/G ratio of 1.14 and a beta of 0.44.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Biogen by 5.2% in the 3rd quarter. BlackRock Inc. now owns 13,896,253 shares of the biotechnology company’s stock worth $3,932,503,000 after purchasing an additional 689,662 shares during the period. Geode Capital Management LLC lifted its position in shares of Biogen by 3.5% in the 2nd quarter. Geode Capital Management LLC now owns 2,893,750 shares of the biotechnology company’s stock worth $1,000,095,000 after purchasing an additional 97,239 shares during the period. Legal & General Group Plc lifted its position in shares of Biogen by 15.9% in the 2nd quarter. Legal & General Group Plc now owns 1,385,692 shares of the biotechnology company’s stock worth $479,830,000 after purchasing an additional 189,746 shares during the period. UBS Asset Management Americas Inc. lifted its position in shares of Biogen by 9.4% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,244,986 shares of the biotechnology company’s stock worth $352,319,000 after purchasing an additional 106,513 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Biogen by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,187,688 shares of the biotechnology company’s stock worth $411,253,000 after purchasing an additional 75,020 shares during the period. Hedge funds and other institutional investors own 82.61% of the company’s stock.

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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