Biogen (BIIB) tops earnings expectations but revenue falls short
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Biogen (BIIB) PT Lowered to $317 at RBC Capital
April 25, 2024 6:39 AM EDTRBC Capital analyst Brian Abrahams lowered the price target on Biogen (NASDAQ: BIIB) to $317.00 (from $326.00) while maintaining a Outperform rating.
The analyst comments "Some encouraging signs for the launch products Skyclarys, Leqembi, and Zurzuvae; while the base business remains pressured and a more... More
JPMorgan First Take on Biogen (BIIB)
April 24, 2024 9:06 AM EDTJPMorgan analyst Chris Schott reiterated a Neutral rating on Biogen (NASDAQ: BIIB).
The analyst comments "This morning, BIIB reported 1Q results that were in line on the top line (Spinraza miss/Tecfidera beat) and ahead on the bottom line and the company... More
BMO Capital First Take on Biogen (BIIB) Earnings
April 24, 2024 7:57 AM EDTBMO Capital analyst Evan David Seigerman reiterated an Outperform rating and $260.00 price target on Biogen (NASDAQ: BIIB).
The analyst comments "Topline miss countered by operating expense efficiency gains from "Fit for Growth" initiative. Topline miss (-1% vs. cons.) mostly driven by Spinraza... More
Biogen cost cuts drive profit beat, as Alzheimer's drug off to slow start
April 24, 2024 6:48 AM EDTBy Manas Mishra and Sriparna Roy
(Reuters) -Biogen reported a quarterly profit that topped Wall Street estimates, helped by cost cutting, as the launch of its new Alzheimer's disease drug remained sluggish.
Sales of Alzheimer's drug Leqembi, recorded by Japanese partner Eisai, were just $19 million for the quarter, compared to analysts' tempered expectations of between $13 million and $30 million.
However, the cost cutting measures contributed to a profit that exceeded analysts' expectations by 22 cents and Biogen shares were up nearly 5%.
"Overall, the quarter looks OK," Mizuho analyst Salim Syed said in a note, "with controlled expense... More
Biogen (BIIB) Tops Q1 EPS by 24c; reaffirms guidance
April 24, 2024 6:46 AM EDTBiogen (NASDAQ: BIIB) reported Q1 EPS of $3.67, $0.24 better than the analyst estimate of $3.43. Revenue for the quarter came in at $2.29 billion versus the consensus estimate of $2.31 billion.
GUIDANCE:
Biogen sees FY2024 EPS of $15.00-$16.00, versus the consensus of $15.49.
For earnings history and earnings-related data on Biogen (BIIB) click here.
... MoreBiogen (BIIB) April weekly option implied volatility into quarter results
April 23, 2024 11:07 AM EDTBiogen (NASDAQ: BIIB) April weekly call option implied volatility is at 81, May is at 38; compared to its 52-week range of 19 to 39 into the expected release of quarter results before the bell on April 24.
... More