Equities Analysts Set Expectations for Biogen Inc.’s Q1 2022 Earnings (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIB) – Research analysts at Piper Sandler decreased their Q1 2022 earnings per share estimates for shares of Biogen in a research report issued on Wednesday, January 12th. Piper Sandler analyst C. Raymond now expects that the biotechnology company will earn $4.71 per share for the quarter, down from their previous estimate of $4.74. Piper Sandler has a “Neutral” rating and a $216.00 price objective on the stock. Piper Sandler also issued estimates for Biogen’s Q4 2022 earnings at $4.33 EPS, FY2023 earnings at $20.58 EPS and FY2024 earnings at $21.51 EPS.

Biogen (NASDAQ:BIIB) last posted its earnings results on Tuesday, October 19th. The biotechnology company reported $4.77 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 analysts’ expectations of $2.67 billion. During the same quarter in the prior year, the company posted $8.84 earnings per share. Biogen’s revenue for the quarter was down 17.7% compared to the same quarter last year.

Other equities analysts have also issued reports about the stock. SVB Leerink dropped their price target on shares of Biogen from $450.00 to $325.00 and set an “outperform” rating on the stock in a research note on Monday, December 20th. Truist dropped their price target on shares of Biogen from $502.00 to $343.00 and set a “buy” rating on the stock in a research note on Monday, January 10th. Wells Fargo & Company increased their price target on shares of Biogen from $250.00 to $284.00 in a research note on Thursday, December 30th. Morgan Stanley dropped their price target on shares of Biogen from $440.00 to $363.00 and set an “overweight” rating on the stock in a research note on Thursday, January 6th. Finally, Royal Bank of Canada dropped their price target on shares of Biogen from $295.00 to $277.00 and set a “sector perform” rating on the stock in a research note on Friday, November 19th. Seventeen investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $322.99.

Shares of BIIB opened at $239.30 on Thursday. The company’s 50-day simple moving average is $243.57 and its 200-day simple moving average is $290.04. The stock has a market capitalization of $35.15 billion, a PE ratio of 23.41, a P/E/G ratio of 1.14 and a beta of 0.44. Biogen has a 1 year low of $217.10 and a 1 year 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.

Several large investors have recently added to or reduced their stakes in BIIB. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Biogen by 11.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 28,212 shares of the biotechnology company’s stock worth $9,769,000 after buying an additional 2,962 shares during the last quarter. South State Corp purchased a new stake in Biogen during the 2nd quarter worth about $32,000. Edgestream Partners L.P. purchased a new stake in Biogen during the 2nd quarter worth about $1,358,000. Toronto Dominion Bank increased its position in Biogen by 0.7% during the 2nd quarter. Toronto Dominion Bank now owns 86,533 shares of the biotechnology company’s stock worth $29,962,000 after purchasing an additional 644 shares in the last quarter. Finally, Cibc World Markets Corp increased its position in Biogen by 8.9% during the 2nd quarter. Cibc World Markets Corp now owns 30,416 shares of the biotechnology company’s stock worth $10,532,000 after purchasing an additional 2,488 shares in the last quarter. 82.61% of the stock is owned by institutional investors and hedge funds.

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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