Biogen is a money machine for investors, but in this case they should have guided better. They missed analyst targets on EPS and revs. Missed on Tecfidera sales as well.
That noted, they will continue to run up given their MS franchise and the progression of their Alzheimer investigation drug (even excluding everything else in the pipeline, it is hard to deny they are really doing some amazing development work). Tecfidera (oral MS drugs) is also going to keep the MS franchise moving along with older Avonex and Tysabri. When you look at others in the same indication, no one has Biogen beat in developing novel MS drugs.
Earnings should be excellent. Keep in mind BIIB is reporting tomorrow (strong results expected) and will be a kick in the IBB #$%$ going into next week. GILD is also reporting April 30th and the expectations there are beyond strong given the RX numbers so far so expect that to push the train along.
Should be a good end of week and run up to earnings.
We could see a nice run up into earnings. AMGN and BIIB may provide the catalyst. I think we will get close to $120 by April 30 (just a WAG).
A little bold PPS predicting never hurt anyone, unless you let it. CELG is clearly underperforming on a pps basis and provides a nice trade before earnings. In any case, keep your eye on the channel this is stuck in and trade it.
Plummel was wrong regarding this week, his comment on earnings is valid. Reality is that CELG could get near that target if the biotech sector continues up and earnings momentum picks up.
Not sure we reach 128 by earnings but you were right on Gild and the larger biotechs (Biib and Gild leading the way higher for the IBB).
the trend is your friend with biotech, that is certain.
BIIB data excellent. The only question is how IBB goes today as volatility will be higher with quad witching. Could we see 380? Very Possible...
Might break a cardinal rule and buy short dates out of the money calls. This is about as risky as buying a lottery ticket, and usually as successful, but this move seems interesting....
Sentiment: Strong Buy
Great move up so far this year. Going to feel some downward pressure going into OPEX next week with the open interest in the in the money calls, but I believe this is short lived (will recover very quickly once this overhead is cleared out). Maybe it will result in another buying opportunity like the secondary was - what a screaming deal that was for the buyers!
Keep going, BMRN!
Sentiment: Strong Buy