What is Wedbush’s Estimate for Biogen FY2024 Earnings?

Biogen Inc. (NASDAQ:BIIB) – Analysts at Wedbush cut their FY2024 earnings per share estimates for Biogen in a note issued to investors on Thursday, January 23rd. Wedbush analyst L. Chico now anticipates that the biotechnology company will post earnings of $16.18 per share for the year, down from their previous estimate of $16.32. The consensus estimate for Biogen’s current full-year earnings is $16.41 per share. Wedbush also issued estimates for Biogen’s Q2 2025 earnings at $4.03 EPS, Q3 2025 earnings at $4.11 EPS, Q4 2025 earnings at $4.12 EPS, FY2025 earnings at $16.22 EPS, FY2026 earnings at $17.22 EPS, FY2027 earnings at $18.30 EPS and FY2029 earnings at $19.40 EPS.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The company had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the business posted $4.36 EPS. Biogen’s revenue for the quarter was down 2.5% on a year-over-year basis.

Several other research firms also recently commented on BIIB. Stifel Nicolaus downgraded shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a research report on Monday, December 16th. Bank of America reiterated a “neutral” rating and issued a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Barclays dropped their target price on Biogen from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 31st. Oppenheimer decreased their price target on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Morgan Stanley cut shares of Biogen from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $285.00 to $204.00 in a research note on Thursday, October 31st. Sixteen analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $228.80.

Biogen Stock Performance

Shares of BIIB opened at $145.49 on Monday. The stock has a market capitalization of $21.20 billion, a P/E ratio of 13.14, a price-to-earnings-growth ratio of 1.64 and a beta of -0.07. The firm’s fifty day simple moving average is $151.75 and its two-hundred day simple moving average is $180.64. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. Biogen has a 12 month low of $139.71 and a 12 month high of $251.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BIIB. Ashton Thomas Securities LLC bought a new stake in shares of Biogen in the 3rd quarter worth about $33,000. Golden State Wealth Management LLC purchased a new position in shares of Biogen during the fourth quarter valued at approximately $41,000. Venturi Wealth Management LLC grew its stake in shares of Biogen by 73.8% during the third quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 93 shares during the last quarter. Itau Unibanco Holding S.A. raised its holdings in shares of Biogen by 63.8% in the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after buying an additional 90 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Biogen by 228.7% during the 4th quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock worth $61,000 after acquiring an additional 279 shares during the last quarter. 87.93% of the stock is owned by hedge funds and other institutional investors.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.