5 Most Anticipated Earnings to Watch on Wednesday

3. Biogen Inc. (NASDAQ:BIIB)

Number of Hedge Fund Holders: 61

Biogen Inc. (NASDAQ:BIIB) is a biotechnology firm primarily engaged in the development of therapies for neurological diseases. The Cambridge-based firm plans to announce its second-quarter results before the opening bell on Wednesday, July 20, 2022.

Analysts expect Biogen Inc. (NASDAQ:BIIB) to report earnings of $4.10 per share on revenue of $2.48 billion. The company had posted adjusted earnings of $5.68 per share on revenue of $2.77 billion for the comparable period of 2021.

Biogen Inc. (NASDAQ:BIIB) also received a price-target hike from Oppenheimer on Monday, July 18, 2022, just a couple of days before its earnings report. Oppenheimer analyst Jay Olson lifted his price target for Biogen Inc. (NASDAQ:BIIB) from $225 per share to $230 per share, citing the company’s increased efforts to grow its sales from therapies other than Aduhelm.