Biogen Inc. (NASDAQ:BIIB) – Investment analysts at Piper Sandler dropped their Q2 2022 earnings per share estimates for Biogen in a research report issued to clients and investors on Wednesday, January 12th. Piper Sandler analyst C. Raymond now forecasts that the biotechnology company will post earnings per share of $5.14 for the quarter, down from their prior forecast of $5.24. Piper Sandler has a “Neutral” rating and a $216.00 price objective on the stock. Piper Sandler also issued estimates for Biogen’s Q3 2022 earnings at $4.95 EPS, FY2022 earnings at $19.15 EPS and FY2025 earnings at $21.06 EPS.
Other analysts have also recently issued reports about the stock. TheStreet cut shares of Biogen from a “b-” rating to a “c+” rating in a research note on Monday, October 4th. The Goldman Sachs Group assumed coverage on shares of Biogen in a research note on Monday, December 6th. They set a “neutral” rating and a $271.00 price objective for the company. Cowen boosted their price objective on shares of Biogen from $375.00 to $450.00 and gave the company an “outperform” rating in a research note on Thursday, October 21st. Mizuho decreased their price target on shares of Biogen from $270.00 to $207.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Guggenheim cut shares of Biogen from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $290.00 to $202.00 in a research report on Thursday. Seventeen research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $322.99.
Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Tuesday, October 19th. The biotechnology company reported $4.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.09 by $0.68. Biogen had a net margin of 13.93% and a return on equity of 28.36%. The company had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the company earned $8.84 EPS. The business’s quarterly revenue was down 17.7% compared to the same quarter last year.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Biogen by 5.2% during the 3rd quarter. BlackRock Inc. now owns 13,896,253 shares of the biotechnology company’s stock valued at $3,932,503,000 after buying an additional 689,662 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Biogen by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 2,893,750 shares of the biotechnology company’s stock valued at $1,000,095,000 after buying an additional 97,239 shares during the last quarter. Legal & General Group Plc grew its position in shares of Biogen by 15.9% during the 2nd quarter. Legal & General Group Plc now owns 1,385,692 shares of the biotechnology company’s stock valued at $479,830,000 after buying an additional 189,746 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Biogen by 9.4% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,244,986 shares of the biotechnology company’s stock valued at $352,319,000 after buying an additional 106,513 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Biogen by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,187,688 shares of the biotechnology company’s stock valued at $411,253,000 after buying an additional 75,020 shares during the last quarter. Institutional investors and hedge funds own 82.61% of the company’s stock.
Biogen, Inc is a biopharmaceutical company, which engages in discovering, developing, and delivering therapies for neurological and neurodegenerative diseases. It offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis; SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of severe plaque psoriasis.
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