Biogen Analysts Lower Their Forecasts After Q4 Results

Core Insights - Biogen Inc reported better-than-expected earnings for its fourth quarter, with adjusted EPS of $3.44, a 17% increase, surpassing the consensus of $3.35 [1] - The company achieved sales of $2.46 billion, reflecting a 2% increase year-over-year on a constant currency basis and a 3% increase on a reported basis, exceeding the consensus of $2.40 billion [1] Multiple Sclerosis Revenue - Revenue from multiple sclerosis products was $1.07 billion, representing an 8% decrease (9% decrease on a constant currency basis) [2] - Sales of the multiple sclerosis drug Tysabri fell to $415.4 million from $464.7 million [2] Future Outlook - Biogen anticipates a full year 2025 adjusted EPS of $15.25-$16.25, compared to a consensus of $16.34 [2] - Revenue is expected to decline by a mid-single-digit percentage in 2025 compared to 2024, primarily due to further declines in multiple sclerosis product revenues, although this may be partially offset by increases from new product launches [3] Stock Performance and Analyst Reactions - Following the earnings announcement, Biogen shares fell 4.3% to close at $133.43 [3] - Analysts have adjusted their price targets for Biogen, with Canaccord Genuity lowering it from $298 to $265, Truist Securities from $220 to $210, and HC Wainwright & Co. from $300 to $241, while maintaining a Buy rating [4]