Cantor Fitzgerald Weighs in on Biogen FY2024 Earnings

Biogen Inc. (NASDAQ:BIIB) – Cantor Fitzgerald dropped their FY2024 EPS estimates for Biogen in a report released on Wednesday, February 5th. Cantor Fitzgerald analyst E. Schmidt now anticipates that the biotechnology company will post earnings per share of $16.09 for the year, down from their prior forecast of $16.14. The consensus estimate for Biogen’s current full-year earnings is $16.43 per share. Cantor Fitzgerald also issued estimates for Biogen’s FY2025 earnings at $17.04 EPS.

A number of other analysts have also weighed in on the stock. Jefferies Financial Group lowered shares of Biogen from a “buy” rating to a “hold” rating and lowered their price target for the company from $250.00 to $180.00 in a report on Monday, December 9th. StockNews.com lowered shares of Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Needham & Company LLC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price for the company. in a report on Monday, November 18th. Wells Fargo & Company lowered their target price on shares of Biogen from $190.00 to $165.00 and set an “equal weight” rating for the company in a report on Friday, January 10th. Finally, Wolfe Research started coverage on shares of Biogen in a report on Friday, November 15th. They set a “peer perform” rating for the company. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $228.80.

Biogen Stock Performance

Shares of Biogen stock opened at $141.35 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The firm has a market cap of $20.60 billion, a P/E ratio of 12.77, a P/E/G ratio of 1.66 and a beta of -0.08. The firm has a 50 day simple moving average of $149.53 and a 200 day simple moving average of $176.72. Biogen has a fifty-two week low of $139.71 and a fifty-two week high of $244.95.

Institutional Investors Weigh In On Biogen

Institutional investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC lifted its position in Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after acquiring an additional 141 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Biogen in the 4th quarter valued at $32,000. Ashton Thomas Securities LLC acquired a new stake in Biogen in the 3rd quarter valued at $33,000. SRS Capital Advisors Inc. acquired a new stake in Biogen in the 4th quarter valued at $33,000. Finally, Golden State Wealth Management LLC acquired a new stake in Biogen in the 4th quarter valued at $41,000. 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.