Biogen Inc. to Post FY2022 Earnings of $16.62 Per Share, Jefferies Financial Group Forecasts (NASDAQ:BIIB)

Biogen Inc. (NASDAQ:BIIB – Get Rating) – Equities research analysts at Jefferies Financial Group increased their FY2022 earnings per share (EPS) estimates for Biogen in a research note issued on Wednesday, July 20th. Jefferies Financial Group analyst M. Yee now forecasts that the biotechnology company will post earnings of $16.62 per share for the year, up from their previous estimate of $15.35. The consensus estimate for Biogen’s current full-year earnings is $16.03 per share. Jefferies Financial Group also issued estimates for Biogen’s Q1 2023 earnings at $3.76 EPS, Q2 2023 earnings at $3.77 EPS, Q3 2023 earnings at $3.40 EPS, Q4 2023 earnings at $3.18 EPS and FY2023 earnings at $14.12 EPS.

A number of other brokerages have also weighed in on BIIB. StockNews.com raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 16th. Wells Fargo & Company raised Biogen from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $235.00 to $265.00 in a research report on Monday, April 18th. Bank of America reduced their price target on Biogen from $230.00 to $225.00 and set a “neutral” rating for the company in a research report on Monday, March 28th. Oppenheimer lifted their price objective on shares of Biogen from $225.00 to $230.00 and gave the company an “outperform” rating in a report on Monday, July 18th. Finally, SVB Leerink reduced their target price on shares of Biogen from $300.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, April 21st. Thirteen equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Biogen has a consensus rating of “Moderate Buy” and an average target price of $257.36.

Biogen Stock Down 3.6 %

Biogen stock opened at $206.25 on Monday. The company has a 50 day moving average of $205.62 and a 200-day moving average of $210.55. The company has a quick ratio of 1.70, a current ratio of 1.94 and a debt-to-equity ratio of 0.53. Biogen has a twelve month low of $187.16 and a twelve month high of $351.86. The stock has a market capitalization of $30.21 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 0.98 and a beta of 0.39.

Biogen (NASDAQ:BIIB – Get Rating) last released its quarterly earnings data on Wednesday, July 20th. The biotechnology company reported $5.25 earnings per share for the quarter, beating the consensus estimate of $4.09 by $1.16. Biogen had a return on equity of 22.36% and a net margin of 19.36%. The business had revenue of $2.59 billion for the quarter, compared to analysts’ expectations of $2.48 billion. During the same quarter in the previous year, the business posted $5.68 EPS. Biogen’s revenue for the quarter was down 6.7% on a year-over-year basis.

Institutional Investors Weigh In On Biogen

Hedge funds have recently bought and sold shares of the stock. First Bank & Trust increased its stake in shares of Biogen by 6.9% during the first quarter. First Bank & Trust now owns 761 shares of the biotechnology company’s stock worth $161,000 after purchasing an additional 49 shares during the period. Indie Asset Partners LLC grew its holdings in Biogen by 3.1% in the 4th quarter. Indie Asset Partners LLC now owns 1,654 shares of the biotechnology company’s stock valued at $397,000 after buying an additional 50 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in shares of Biogen by 29.6% during the second quarter. Hexagon Capital Partners LLC now owns 219 shares of the biotechnology company’s stock worth $45,000 after buying an additional 50 shares in the last quarter. Nicholas Hoffman & Company LLC. boosted its position in shares of Biogen by 5.2% in the fourth quarter. Nicholas Hoffman & Company LLC. now owns 1,074 shares of the biotechnology company’s stock valued at $258,000 after acquiring an additional 53 shares during the period. Finally, Whittier Trust Co. grew its stake in shares of Biogen by 1.4% in the first quarter. Whittier Trust Co. now owns 5,105 shares of the biotechnology company’s stock valued at $1,075,000 after acquiring an additional 69 shares in the last quarter. 83.92% of the stock is currently owned by institutional investors and hedge funds.

Biogen Company Profile

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Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis.