Biogen Inc. to Post FY2022 Earnings of $17.83 Per Share, Truist Securities Forecasts (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIB) – Investment analysts at Truist Securities cut their FY2022 EPS estimates for shares of Biogen in a report issued on Tuesday, January 11th. Truist Securities analyst R. Karnauskas now anticipates that the biotechnology company will post earnings of $17.83 per share for the year, down from their previous estimate of $18.94. Truist Securities has a “Buy” rating and a $343.00 price target on the stock. Truist Securities also issued estimates for Biogen’s FY2026 earnings at $20.38 EPS.

A number of other research firms also recently commented on BIIB. Cantor Fitzgerald decreased their target price on Biogen from $316.00 to $259.00 and set a “neutral” rating on the stock in a research report on Thursday, October 28th. Needham & Company LLC decreased their target price on Biogen from $386.00 to $328.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. decreased their target price on Biogen from $324.00 to $276.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 21st. The Goldman Sachs Group began coverage on Biogen in a research report on Monday, December 6th. They issued a “neutral” rating and a $271.00 price objective on the stock. Finally, reduced their price objective on Biogen from $423.00 to $390.00 and set a “buy” rating on the stock in a research report on Friday, October 22nd. Seventeen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $322.99.

BIIB opened at $239.30 on Thursday. The business’s fifty day moving average is $243.57 and its two-hundred day moving average is $290.04. 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 company has a market cap of $35.15 billion, a price-to-earnings ratio of 23.41, a PEG ratio of 1.14 and a beta of 0.44. Biogen has a one year low of $217.10 and a one year high of $468.55.

Biogen (NASDAQ:BIIB) last announced 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 return on equity of 28.36% and a net margin of 13.93%. The firm had revenue of $2.78 billion for the quarter, compared to analyst estimates of $2.67 billion. During the same quarter in the prior year, the company posted $8.84 earnings per share. Biogen’s quarterly revenue was down 17.7% on a year-over-year basis.

Several hedge funds have recently bought and sold shares of the company. Farmers & Merchants Investments Inc. grew its stake in shares of Biogen by 3.1% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 4,002 shares of the biotechnology company’s stock valued at $960,000 after buying an additional 122 shares in the last quarter. Spire Wealth Management grew its stake in shares of Biogen by 111.6% in the fourth quarter. Spire Wealth Management now owns 2,359 shares of the biotechnology company’s stock valued at $566,000 after buying an additional 1,244 shares in the last quarter. HighTower Trust Services LTA acquired a new stake in shares of Biogen in the fourth quarter valued at about $360,000. Centerpoint Advisors LLC purchased a new position in Biogen in the fourth quarter valued at about $40,000. Finally, Stratos Wealth Advisors LLC boosted its holdings in Biogen by 7.7% in the fourth quarter. Stratos Wealth Advisors LLC now owns 2,149 shares of the biotechnology company’s stock valued at $516,000 after purchasing an additional 153 shares during the last quarter. Institutional investors and hedge funds 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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