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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 July 2018, the company announced positive top-line data from a mid-stage study on Alzheimer’s candidate, BAN2401, which bodes well for the company.
Biogen has a mixed earnings track record with the company delivering positive earnings surprises in three of the last four quarters with an average surprise of 6.25%.
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 Beat: Biogen’s second quarter 2018 earnings beat expectations. The company posted earnings of $5.80 per share while our consensus called for EPS of $5.22.
Revenues Miss: Biogen posted revenues of $3.36 billion, beating the consensus estimate of $3.25 billion. Revenue increased 9% year over year. The number does not include hemophilia business revenues, which was spun-off in February 2018.
Key Statistics: The company's oral MS drug Tecfidera sales decreased 2% year over year but increased 10% sequentially to $1.09 billion. The other MS drug, Tysabri’s sales decreased 6% year over year to $467 million but increased marginally by 1% sequentially.
Pre-Market Trading: Shares were up 2.2% in pre-market trading.
Check back later for our full write up on this BIIB earnings report later!
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Biogen (BIIB) Q2 Earnings Beat, Shares 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 July 2018, the company announced positive top-line data from a mid-stage study on Alzheimer’s candidate, BAN2401, which bodes well for the company.
Biogen has a mixed earnings track record with the company delivering positive earnings surprises in three of the last four quarters with an average surprise of 6.25%.
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 Beat: Biogen’s second quarter 2018 earnings beat expectations. The company posted earnings of $5.80 per share while our consensus called for EPS of $5.22.
Revenues Miss: Biogen posted revenues of $3.36 billion, beating the consensus estimate of $3.25 billion. Revenue increased 9% year over year. The number does not include hemophilia business revenues, which was spun-off in February 2018.
Key Statistics: The company's oral MS drug Tecfidera sales decreased 2% year over year but increased 10% sequentially to $1.09 billion. The other MS drug, Tysabri’s sales decreased 6% year over year to $467 million but increased marginally by 1% sequentially.
Pre-Market Trading: Shares were up 2.2% in pre-market trading.
Check back later for our full write up on this BIIB earnings report later!
Biogen Inc. Price and EPS Surprise
Biogen Inc. Price and EPS Surprise | Biogen Inc. Quote
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>