Biogen beats profit estimates on demand for multiple sclerosis drug [Reuters]
Biogen Inc. (BIIB)
Last biogen inc. earnings: 4/22 07:12 am
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Source: Reuters
Biogen beats profit estimates on demand for multiple sclerosis drug (Reuters) - Biogen Inc beat Wall Street expectations for quarterly profit on Thursday, driven by demand for its top-selling multiple sclerosis drug, Tecfidera. Tecfidera revenue rose 4.5% to $1.16 billion, ahead of Street estimates of $1.12 billion and at a time when the drug faces patent challenges and increasing competition from newer treatments, including Roche Holding AG’s Ocrevus. Sales of Spinraza, the first approved treatment for spinal muscular atrophy, rose to $543.2 million, but missed the average analysts’ estimate of $549 million, according to Refinitiv data. The company said it expects 2020 full-year adjusted profit to be in the range of $31.50 per share and $33.50 per share. Analysts on average were expecting $33.03 per share. Net income attributable to the company rose to $1.44 billion, or $8.08 per share, in the quarter ended Dec. 31, from $946.8 million, or $4.73 per share, a year earlier when it paid
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BIIB
News
- Biogen Inc. (NASDAQ: BIIB) had its price target lowered by analysts at Mizuho from $251.00 to $207.00. They now have an "outperform" rating on the stock.MarketBeat
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- Biogen Inc. (NASDAQ: BIIB) was downgraded by analysts at Needham & Company LLC to a "hold" rating. They now have a $270.00 price target on the stock.MarketBeat
BIIB
Earnings
- 10/31/24 - Beat
BIIB
Sec Filings
- 11/12/24 - Form SC
- 11/7/24 - Form 4
- 11/4/24 - Form 4
- BIIB's page on the SEC website