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Cambridge, MA-based Biogen Inc. (BIIB - Free Report) one of the world’s leading biotechnology companies, focuses on therapeutic areas including neurology and immunology. The company is best known for its multiple sclerosis (MS) franchise comprising treatments like Avonex, Tysabri, Tecfidera and Plegridy.
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 5.86%.
Currently, BIIB 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: BIIB’s first quarter 2017 earnings were better-than expected. The company posted earnings of $5.20 per share while our consensus called for EPS of $4.97.
Revenues Miss: Biogen posted revenues of $2.81 billion, beating the consensus estimate of $2.73 billion. Revenue increased 3% year over year and 8% excluding hemophilia revenues.
Key Statistics: Oral multiple sclerosis (MS) drug Tecfidera’s revenues declined 4.5% sequentially. The other MS drug, Tysabri’s sales increased 15% 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) Beats on Q1 Earnings and Revenue
Cambridge, MA-based Biogen Inc. (BIIB - Free Report) one of the world’s leading biotechnology companies, focuses on therapeutic areas including neurology and immunology. The company is best known for its multiple sclerosis (MS) franchise comprising treatments like Avonex, Tysabri, Tecfidera and Plegridy.
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 5.86%.
Biogen Inc. Price and EPS Surprise
Biogen Inc. Price and EPS Surprise | Biogen Inc. Quote
Currently, BIIB 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: BIIB’s first quarter 2017 earnings were better-than expected. The company posted earnings of $5.20 per share while our consensus called for EPS of $4.97.
Revenues Miss: Biogen posted revenues of $2.81 billion, beating the consensus estimate of $2.73 billion. Revenue increased 3% year over year and 8% excluding hemophilia revenues.
Key Statistics: Oral multiple sclerosis (MS) drug Tecfidera’s revenues declined 4.5% sequentially. The other MS drug, Tysabri’s sales increased 15% 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!
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>