Biogen (NASDAQ:BIIB – Get Free Report) released its earnings results on Wednesday. The biotechnology company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.45 by $0.22, Briefing.com reports. Biogen had a return on equity of 14.91% and a net margin of 11.81%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same period last year, the business earned $3.40 earnings per share. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. Biogen updated its FY24 guidance to $15.00-16.00 EPS and its FY 2024 guidance to 15.000-16.000 EPS.
Biogen Trading Down 1.2 %
Shares of Biogen stock traded down $2.46 on Thursday, hitting $199.53. 710,051 shares of the company’s stock traded hands, compared to its average volume of 1,185,360. The stock has a market capitalization of $29.00 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 1.84 and a beta of -0.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. Biogen has a one year low of $189.44 and a one year high of $319.76. The firm’s 50-day moving average price is $213.18 and its two-hundred day moving average price is $234.39.
Insider Buying and Selling
In other news, insider Priya Singhal sold 262 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares in the company, valued at approximately $1,080,929.78. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Eric K. Rowinsky bought 455 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were bought at an average cost of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now owns 20,629 shares in the company, valued at $4,590,777.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Priya Singhal sold 262 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $221.23, for a total transaction of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares in the company, valued at $1,080,929.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 882 shares of company stock valued at $202,030. Company insiders own 0.60% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Report on BIIB
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.
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