Brokers Set Expectations for Biogen Inc.’s Q2 2022 Earnings (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIB) – Analysts at William Blair reduced their Q2 2022 earnings per share estimates for shares of Biogen in a research report issued to clients and investors on Wednesday, January 12th. William Blair analyst M. Minter now expects that the biotechnology company will earn $5.63 per share for the quarter, down from their prior estimate of $5.69. William Blair also issued estimates for Biogen’s Q3 2022 earnings at $5.42 EPS, FY2022 earnings at $20.72 EPS, FY2023 earnings at $22.55 EPS and FY2024 earnings at $26.33 EPS.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings data on Tuesday, October 19th. The biotechnology company reported $4.77 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period last year, the company earned $8.84 earnings per share. The firm’s revenue was down 17.7% compared to the same quarter last year.

A number of other brokerages also recently weighed in on BIIB. Royal Bank of Canada lowered their target price on shares of Biogen from $295.00 to $277.00 and set a “sector perform” rating on the stock in a report on Friday, November 19th. Piper Sandler downgraded shares of Biogen from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $362.00 to $216.00 in a report on Wednesday. Jefferies Financial Group restated a “buy” rating on shares of Biogen in a report on Monday, October 18th. Wedbush lowered their target price on shares of Biogen from $249.00 to $195.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, lowered their target price on shares of Biogen from $423.00 to $390.00 and set a “buy” rating on the stock in a report on Friday, October 22nd. Seventeen research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Biogen presently has a consensus rating of “Buy” and a consensus target price of $322.99.

NASDAQ BIIB opened at $239.30 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.70 and a debt-to-equity ratio of 0.58. Biogen has a 12-month low of $217.10 and a 12-month high of $468.55. The company has a market capitalization of $35.15 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 1.14 and a beta of 0.44. The firm’s 50 day moving average is $243.57 and its 200-day moving average is $290.04.

Institutional investors have recently made changes to their positions in the company. Albion Financial Group UT bought a new stake in Biogen during the second quarter worth about $26,000. Larson Financial Group LLC bought a new stake in Biogen during the second quarter worth about $27,000. Evermay Wealth Management LLC bought a new stake in Biogen during the second quarter worth about $28,000. Viridian Ria LLC bought a new stake in Biogen during the third quarter worth about $28,000. Finally, Avondale Wealth Management bought a new position in shares of Biogen in the fourth quarter worth about $26,000. 82.61% of the stock is owned by institutional investors.

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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