224.65 +0.25 (0.11%)
After hours: 6:04PM EDT
|Bid||223.50 x 1000|
|Ask||224.37 x 900|
|Day's Range||223.46 - 232.80|
|52 Week Range||216.12 - 388.67|
|Beta (3Y Monthly)||1.85|
|PE Ratio (TTM)||10.40|
|Earnings Date||Apr 24, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||261.19|
Biogen could pivot to inflammation following its high-profile Alzheimer's disease treatment flop, an analyst said Wednesday after the biotech reported an "operationally sound quarter."
Biogen Inc. executives sought on Wednesday to ease investors’ concerns over the recent failure of one of the company’s investigational Alzheimer's drugs.
Biogen earnings for the first quarter of 2019 have BIIB stock down on Wednesday despite it beating it estimates.Source: Biogen via YouTubeBiogen (NASDAQ:BIIB) starts off its earnings report for the first quarter of the year with earnings per share of $6.98. This is up from the company's earnings per share of $6.05 from the first quarter of 2018. It also comes in above Wall Street's earnings per share estimate of $6.84 for the period, but couldn't keep BIIB stock from dropping today.Biogen earnings for the first quarter of 2019 also include net income of $1.41 billion. This is better than the company's net income of $1.17 billion reported in the same period of the year prior.InvestorPlace - Stock Market News, Stock Advice & Trading TipsOperating income reported in the Biogen earnings report for the first quarter of the year comes in at $1.50 billion. That's a drop from the company's operating income of $1.54 billion reported in the first quarter of the previous year.The Biogen earnings report for the first quarter of 2019 also includes revenue of $3.49 billion. This is an increase over the biotechnology company's revenue of $3.13 billion reported during the same time last year. It also beats out analysts' revenue estimate of $3.39 billion for the quarter, but BIIB stock is still down today. * 10 Stocks to Sell Before They Give Back 2019 Gains So what exactly is keeping BIIB stock down today? The company has had to recently give up on a drug to treat Alzheimer's following poor results. Plans in the most recent earnings report likely aren't giving investors as much hope for the future as Biogen was expecting.BIIB stock was down 2% as of noon Wednesday. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Oversold Stocks to Run From * 7 Red-Hot E-Commerce Stocks to Consider * 4 Stocks Surging on Earnings Surprises As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Biogen Earnings: BIIB Stock Slips Despite Q1 Beat appeared first on InvestorPlace.
Domino's Pizza DPZ — Shares of Domino's Pizza climbed 4.9% on stronger-than-forecast quarterly earnings. Anadarko Petroleum APC — The energy company's stock jumped 11.6% after Occidental Petroleum announced a bid of $76 a share for Anadarko, topping an earlier offer from Chevron. Occidental's bid values Anadarko at $57 billion .
Biogen (BIIB) beats estimates for both earnings and sales in the first quarter fueled mainly by strong performance of its muscle disease drug, Spinraza in international markets.
As the company's lead products Tecfidera and Spinraza face near term challenges, analysts have called for "aggressive" business development measures to fill the void left by the discontinuation of aducanumab. Biogen, during its post-earnings call, highlighted its pipeline opportunities and signaled that it was in a position to pursue M&A deals and late-stage opportunities. "The plan A was always to prepare Biogen for growth even without aducanumab," Chief Executive Officer Michel Vounatsos said.
Instead of scrapping similar programs, the company is still poring over data and hoping that a different approach that also has a spotty track record will prove more successful. Alzheimer’s medicines continue to be a significant portion of Biogen’s pipeline despite growing evidence that it should direct its resources elsewhere. What should have been a seismic event for the company doesn’t appear to have changed its mindset all that much. Biogen’s biggest investment this year has been in its own shares, and the company continues to focus heavily on its internal neuroscience pipeline. A big proportion of these are high-risk bets, especially in the context of Biogen’s spotty R&D track record.
shares dipped Wednesday after the drugmaker beat quarterly revenue estimates and earnings met forecasts. Adjusted earnings per share were $6.98, in line with analysts estimates. "Biogen delivered strong financial results in the first quarter driven by the solid operational performance of our MS, SMA, and biosimilars franchises," said Michel Vounatsos, Biogen's CEO.
The stock was drifting lower despite the company reporting better-than-expected first-quarter earnings. The question of what it plans to do after the failure of its drug to treat Alzheimer’s disease still hangs over the shares.
Biogen (BIIB) beat estimates for both earnings and sales in the first quarter fueled mainly by strong performance of its muscle disease drug, Spinraza in international markets.
Shares of Biogen were up 1.8% in premarket trade Wednesday after the company reported revenue that beat estimates and earnings that were in line with what Wall Street had expected. Profit for the latest quarter rose to $1.409 billion, or $7.15 per share, compared with $1.173 billion, or $5.54 per share, in the year-earlier period. Adjusted EPS was $6.98, matching the FactSet consensus. Revenue was $3.49 billion, above the FactSet consensus of $3.396 billion and higher than $3.131 billion a year ago. The company's best-selling drug, Tecfidera, brought in $999 million, up from $987 million in the year-earlier period. Spinraza, Biogen's blockbuster spinal muscular atrophy drug, brought in $518 million, up from $364 million a year ago. Biogen has had a tough quarter -- shares have fallen 23% so far this year, a plunge sparked by the company's discontinuation of its Phase 3 trials of the Alzheimer's drug aducanumab in March. The S&P 500 has gained 17%.
Investing.com - Biogen (NASDAQ:BIIB) reported first quarter earnings that Beat analysts' expectations on Wednesday and revenue that topped forecasts.
Michel Vounatsos, chief executive, said the neuroscience-focused biotech company had the cash flow and balance sheet to do deals while buying back billions of dollars of shares. The companies discontinued two global Phase III trials of aducanumab after an independent monitoring committee found that the drug was not going to prove effective.
Health-care earnings begin in earnest this week. Centene Corp. reported on Tuesday, and Anthem Inc., Biogen Inc., Boston Scientific Corp. and Novartis AG are set to report Wednesday.
Investors are looking forward to Revlimid's performance and updates on the impending acquisition agreement with Bristol-Myers, when Celgene Corporation (CELG) reports Q1 results.
Biogen stock has suffered in 2019. Analysts are expecting Biogen to earn $6.81 a share on revenue of $3.38 billion for the first quarter.
While sales of Biogen's (BIIB) MS franchise are expected to decline in the first quarter of 2019 that of Spinraza are likely to increase.
Performance of Opdivo and the impending acquisition of Celgene Corporation will be key areas of focus for the investors, when Bristol-Myers (BMY) reports first-quarter results.
MISSISSAUGA, ON , April 22, 2019 /CNW/ - Biogen Canada welcomes the decision made by the Government of Saskatchewan allowing patients living with Spinal Muscular Atrophy (SMA) to access SPINRAZA™(nusinersen), the first and only approved medicine in the world to treat the root cause of SMA.
Roche's (RHHBY) performance in the first quarter of 2019 is driven by solid strength of new drugs, which more than offset competition from biosimilars.