Back to top

Biogen (BIIB) Q3 Earnings & Sales Beat Estimates

Read MoreHide Full Article

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.

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 5.13%.

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 third quarter 2018 earnings beat expectations. The company posted earnings of $7.40 per share while our consensus called for EPS of $6.80.

Revenues Beat: Biogen posted revenues of $3.44 billion, beating the consensus estimate of $3.33 billion. Revenue increased 12% year over year.

Key Statistics: The company's oral MS drug Tecfidera’s sales rose 2% year over year to $1.09 billion. The other MS drug, Tysabri’s sales were flat year over year at $470 million. Spinraza (spinal muscular atrophy) sales grew 73% year over year and 11% sequentially to $468 million driven by sales growth in both United States and in ex U.S. markets.

Pre-Market Trading: Shares were in-active in pre-market trading.

Check back later for our full write up on this BIIB earnings report later!

 

Biogen Inc. Price and Consensus

 

Biogen Inc. Price and Consensus | Biogen Inc. Quote

 

Today's Stocks from Zacks' Hottest Strategies

It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.

And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.

See Them Free>>s




In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Biogen Inc. (BIIB) - free report >>

More from Zacks Tale of the Tape

You May Like