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MARKETS LIVE BLOG:

STOCKS RISE, LED BY STELLAR ALPHABET, MICROSOFT EARNINGS

Latest stubborn U.S. inflation reading will bring about more 'wait and see' from the Fed

Biogen (BIIB) Beats Revenues and Earnings Estimates in Q4

Zacks Equity Research

Cambridge, MA-based Biogen Inc. BIIB 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.

Biogen’s earnings performance has been decent so far. The company delivered a positive surprise in three of the last four quarters. The average earnings beat over the last four quarters is 4.66%.

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 fourth quarter 2018 earnings beat expectations. The company posted earnings of $6.99 per share while our consensus called for EPS of $6.72.

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Revenues Beat: Biogen posted revenues of $3.53 billion, beating the consensus estimate of $3.39 billion. Revenue increased 7% year over year.

Key Statistics: The company's oral MS drug Tecfidera’s sales rose 3% year over year to $1.10 billion. The other MS drug, Tysabri’s sales were flat year over year at $464 million. Spinraza (spinal muscular atrophy) sales grew 30% year over year to $469.9 million driven by sales growth in both United States and in ex U.S. markets.

Pre-Market Trading: Shares decreased 0.46% 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

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