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Biogen's stock rockets after earnings beat, Alzheimer's treatment heads for regulatory approval process [MarketWatch]
Last biogen inc. earnings: 4/22 07:12 am
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Biogen's stock rockets after earnings beat, Alzheimer's treatment heads for regulatory approval process Shares of Biogen Inc. BIIB, +1.57% rocketed 35% in premarket trading Tuesday, after the biotechnology company reported third-quarter profit and revenue that beat expectations and said it would pursue regulatory approval of its Alzheimer's treatment. Net income rose to $1.55 billion, or $8.39 a share, from $1.44 billion, or $7.15 a share, in the year-ago period. Excluding non-recurring items, adjusted EPS rose to $9.17 from $7.40 to beat the FactSet consensus of $8.28. Revenue grew 5% to $3.60 billion, above the FactSet consensus of $3.54 billion. Revenue for Tecfidera, Biogen's biggest seller, increased 3% to $1.12 billion to match expectations. Earlier, the company said a phase 3 trial of aducanumab, an investigational treatment for Alzheimer's, met its primary endpoint, and as a results, the company said it will pursue regulatory approval. The stock has lost 25.7% year to date
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- 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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- Dapirolizumab Pegol Phase 3 Data Presented at the American College of Rheumatology Shows Significant Reduction in Systemic Lupus Erythematosus Disease Activity[GlobeNewswire]
- 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]
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BIIB
SEC Filings
SEC Filings
- 11/12/24 - Form SC
- 11/7/24 - Form 4
- 11/4/24 - Form 4
- BIIB's page on the SEC website
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