Biogen (NASDAQ:BIIB – Get Free Report) issued its quarterly 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 14.83% and a net margin of 12.07%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter last year, the business posted $3.40 EPS. Biogen’s revenue was down 7.0% on a year-over-year basis. Biogen updated its FY24 guidance to $15.00-16.00 EPS and its FY 2024 guidance to 15.000-16.000 EPS.
Biogen Stock Performance
NASDAQ:BIIB traded up $7.12 during mid-day trading on Friday, hitting $209.58. The stock had a trading volume of 857,676 shares, compared to its average volume of 1,191,426. Biogen has a twelve month low of $189.44 and a twelve month high of $319.76. The stock has a market cap of $30.46 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 1.92 and a beta of -0.02. The company’s 50 day simple moving average is $212.76 and its 200 day simple moving average is $234.17. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.26 and a current ratio of 2.10.
Insider Activity at Biogen
In related 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 value of $100,329.55. Following the completion of the sale, the insider now directly owns 4,516 shares in the company, valued at approximately $1,081,356.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Biogen news, insider Priya Singhal sold 419 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Eric K. Rowinsky acquired 455 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the transaction, the director now directly owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 882 shares of company stock worth $202,030. Insiders own 0.60% of the company’s stock.
Wall Street Analysts Forecast Growth
View Our Latest Stock Analysis on Biogen
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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