Biogen (NASDAQ:BIIB – Get Free Report) posted its earnings results on Wednesday. The biotechnology company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.22, Briefing.com reports. The company had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Biogen had a net margin of 11.81% and a return on equity of 14.91%. Biogen’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period last year, the company posted $3.40 earnings per share. Biogen updated its FY24 guidance to $15.00-16.00 EPS and its FY 2024 guidance to 15.000-16.000 EPS.
Biogen Stock Down 0.8 %
NASDAQ BIIB traded down $1.56 during trading on Thursday, reaching $200.43. 768,560 shares of the company’s stock traded hands, compared to its average volume of 1,185,816. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.00 and a quick ratio of 1.26. The firm has a market cap of $29.13 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 1.84 and a beta of -0.02. The company’s 50 day simple moving average is $213.18 and its two-hundred day simple moving average is $234.39. Biogen has a 12-month low of $189.44 and a 12-month high of $319.76.
Insider Buying and Selling at Biogen
In other Biogen news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the transaction, the insider now owns 4,516 shares of the company’s stock, valued at approximately $1,081,356.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Eric K. Rowinsky acquired 455 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were purchased at an average price of $222.54 per share, with a total value of $101,255.70. Following the transaction, the director now directly owns 20,629 shares in the company, valued at $4,590,777.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Priya Singhal sold 419 shares of Biogen stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the transaction, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The disclosure for this sale can be found here. In the last quarter, insiders have 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
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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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