Biogen (BIIB) Projected to Post Earnings on Tuesday

Biogen (NASDAQ:BIIB) is projected to announce its earnings results before the market opens on Tuesday, February 11th. Analysts expect the company to announce earnings of $3.43 per share and revenue of $2.42 billion for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Biogen Trading Down 1.1 %

BIIB opened at $142.34 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 1.26 and a debt-to-equity ratio of 0.28. Biogen has a twelve month low of $139.71 and a twelve month high of $246.44. The stock has a market capitalization of $20.74 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 1.66 and a beta of -0.08. The company has a 50-day simple moving average of $150.79 and a 200 day simple moving average of $178.36.

Analysts Set New Price Targets

Several analysts recently weighed in on BIIB shares. Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $250.00 to $180.00 in a research report on Monday, December 9th. Wolfe Research began coverage on shares of Biogen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Piper Sandler downgraded Biogen from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $315.00 to $138.00 in a report on Thursday, January 2nd. Bank of America reaffirmed a “neutral” rating and issued a $178.00 target price on shares of Biogen in a report on Tuesday, December 10th. Finally, Wells Fargo & Company reduced their price target on Biogen from $190.00 to $165.00 and set an “equal weight” rating on the stock in a report on Friday, January 10th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $228.80.

About Biogen

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.