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Biogen (BIIB) Q4 Earnings Miss, Sales Top, Stock Up
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Cambridge, MA-based Biogen Inc. (BIIB - Free Report) holds a strong position in the multiple sclerosis (MS) market with a wide range of products including Avonex, Tysabri, Tecfidera and Plegridy. However, as competition in the MS market intensifies, Biogen is trying to diversify beyond MS to other areas like Alzheimer's, Parkinson's, stroke, among others. Meanwhile, in Feb 2017, the company spinned-off its hemophilia business which allows it to focus on neurology, its key area of expertise.
BIIB has a pretty good earnings track record with the company delivering positive earnings surprises in each of the last four quarters with an average surprise of 8.09%.
Currently, Biogen has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Miss: Biogen’s fourth quarter 2017 earnings missed expectations. The company posted earnings of $5.26 per share while our consensus called for EPS of $5.44.
Revenues Beat: Biogen posted revenues of $3.31 billion, beating the consensus estimate of $3.07 billion. Revenue increased 15% year over year.
Key Statistics: Oral MS drug Tecfidera sales increased 7% year over year and 1% sequentially to $1.08 billion. The other MS drug, Tysabri’s sales decreased 2% year over year and 1% sequentially.
Pre-Market Trading: Shares were up more than 3% in pre-market trading.
Check back later for our full write up on this BIIB earnings report later!
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Biogen (BIIB) Q4 Earnings Miss, Sales Top, Stock Up
Cambridge, MA-based Biogen Inc. (BIIB - Free Report) holds a strong position in the multiple sclerosis (MS) market with a wide range of products including Avonex, Tysabri, Tecfidera and Plegridy. However, as competition in the MS market intensifies, Biogen is trying to diversify beyond MS to other areas like Alzheimer's, Parkinson's, stroke, among others. Meanwhile, in Feb 2017, the company spinned-off its hemophilia business which allows it to focus on neurology, its key area of expertise.
BIIB has a pretty good earnings track record with the company delivering positive earnings surprises in each of the last four quarters with an average surprise of 8.09%.
Currently, Biogen has a Zacks Rank #3 (Hold), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:
Earnings Miss: Biogen’s fourth quarter 2017 earnings missed expectations. The company posted earnings of $5.26 per share while our consensus called for EPS of $5.44.
Revenues Beat: Biogen posted revenues of $3.31 billion, beating the consensus estimate of $3.07 billion. Revenue increased 15% year over year.
Key Statistics: Oral MS drug Tecfidera sales increased 7% year over year and 1% sequentially to $1.08 billion. The other MS drug, Tysabri’s sales decreased 2% year over year and 1% sequentially.
Pre-Market Trading: Shares were up more than 3% in pre-market trading.
Check back later for our full write up on this BIIB earnings report later!
Biogen Inc. Price and Consensus
Biogen Inc. Price and Consensus | Biogen Inc. Quote
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And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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