What is Wedbush’s Forecast for Biogen Q4 Earnings?

Biogen Inc. (NASDAQ:BIIB) – Analysts at Wedbush reduced their Q4 2024 earnings per share (EPS) estimates for shares of Biogen in a research report issued to clients and investors on Thursday, January 23rd. Wedbush analyst L. Chico now anticipates that the biotechnology company will earn $3.15 per share for the quarter, down from their prior forecast of $3.29. The consensus estimate for Biogen’s current full-year earnings is $16.41 per share. Wedbush also issued estimates for Biogen’s Q1 2025 earnings at $3.97 EPS and FY2028 earnings at $19.08 EPS.

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

BIIB has been the subject of several other reports. Robert W. Baird lifted their price objective on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Royal Bank of Canada cut their price objective on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a research report on Friday, October 4th. Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $285.00 to $204.00 in a research report on Thursday, October 31st. UBS Group lowered their price target on Biogen from $234.00 to $202.00 and set a “neutral” rating for the company in a report on Thursday, October 3rd. Finally, Bank of America reaffirmed a “neutral” rating and issued a $178.00 price objective on shares of Biogen in a research note on Tuesday, December 10th. Sixteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $230.00.

Biogen Price Performance

NASDAQ:BIIB opened at $143.67 on Friday. 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 firm has a market cap of $20.94 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.64 and a beta of -0.07. Biogen has a 52 week low of $139.71 and a 52 week high of $251.99. The firm’s 50-day simple moving average is $152.63 and its 200 day simple moving average is $182.79.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Ashton Thomas Securities LLC acquired a new position in Biogen in the third quarter valued at approximately $33,000. Venturi Wealth Management LLC lifted its position in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 93 shares during the period. Itau Unibanco Holding S.A. boosted its stake in Biogen by 63.8% during the third quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock worth $45,000 after acquiring an additional 90 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Biogen in the third quarter worth $74,000. Finally, TD Private Client Wealth LLC increased its stake in Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 77 shares in the last quarter. 87.93% of the stock is owned by institutional investors.

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.