Biogen Analysts Slash Their Forecasts After Q3 Results
Portfolio Pulse from Avi Kapoor
Biogen Inc reported better-than-expected Q3 earnings, with adjusted EPS of $4.08 and sales of $2.47 billion, both beating consensus estimates. Despite raising its 2024 EPS guidance, Biogen's stock fell 2.5% as analysts adjusted their price targets, with Morgan Stanley downgrading the stock.
October 31, 2024 | 5:28 pm
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Biogen reported Q3 earnings that beat expectations, but the stock fell 2.5% as analysts adjusted their price targets. Morgan Stanley downgraded the stock, impacting investor sentiment.
Despite Biogen's Q3 earnings beating expectations, the stock fell due to analyst downgrades and price target adjustments. Morgan Stanley's downgrade from Overweight to Equal-Weight and a significant price target cut likely contributed to the negative sentiment.
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