Leerink Partnrs Brokers Lower Earnings Estimates for Biogen

Biogen Inc. (NASDAQ:BIIB) – Stock analysts at Leerink Partnrs dropped their FY2027 EPS estimates for shares of Biogen in a research note issued on Wednesday, January 29th. Leerink Partnrs analyst M. Goodman now forecasts that the biotechnology company will post earnings per share of $16.65 for the year, down from their prior estimate of $18.00. The consensus estimate for Biogen’s current full-year earnings is $16.43 per share. Leerink Partnrs also issued estimates for Biogen’s FY2028 earnings at $17.85 EPS.

A number of other equities research analysts have also issued reports on BIIB. UBS Group dropped their target price on shares of Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company dropped their price objective on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a research note on Friday, January 10th. Oppenheimer decreased their target price on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Bank of America restated a “neutral” rating and issued a $178.00 price target on shares of Biogen in a research report on Tuesday, December 10th. Finally, Wolfe Research began coverage on Biogen in a research report on Friday, November 15th. They set a “peer perform” rating on the stock. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Biogen has a consensus rating of “Hold” and a consensus price target of $228.80.

Biogen Stock Up 1.3 %

Shares of BIIB opened at $146.23 on Friday. The stock has a 50 day moving average price of $151.32 and a 200 day moving average price of $179.80. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. The stock has a market capitalization of $21.31 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 1.66 and a beta of -0.07. Biogen has a one year low of $139.71 and a one year high of $251.99.

Biogen (NASDAQ:BIIB) last released its earnings results 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 business 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 earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year.

Hedge Funds Weigh In On Biogen

Several hedge funds have recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock worth $407,919,000 after purchasing an additional 2,648,024 shares during the period. Van ECK Associates Corp lifted its holdings in Biogen by 977.9% during the 4th quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock worth $163,083,000 after buying an additional 967,523 shares in the last quarter. International Assets Investment Management LLC boosted its position in Biogen by 19,722.9% in the 3rd quarter. International Assets Investment Management LLC now owns 358,992 shares of the biotechnology company’s stock valued at $695,870,000 after buying an additional 357,181 shares during the period. Mizuho Securities USA LLC grew its stake in shares of Biogen by 2,715.9% in the third quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock worth $61,253,000 after acquiring an additional 304,778 shares in the last quarter. Finally, Erste Asset Management GmbH acquired a new position in shares of Biogen in the third quarter worth $55,826,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

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.