232.00 -0.48 (-0.21%)
Pre-Market: 7:20AM EDT
|Bid||240.00 x 1200|
|Ask||245.00 x 1000|
|Day's Range||231.29 - 235.21|
|52 Week Range||216.12 - 388.67|
|Beta (3Y Monthly)||1.51|
|PE Ratio (TTM)||10.05|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Biogen, the neuroscience-focused biotech company, raised full-year guidance and beat earnings and revenue expectations, driven by sales of drugs for multiple sclerosis and the serious genetic disease spinal muscular atrophy. It raised its forecasts for statutory diluted earnings per share to between $29.60 and $30.40, an increase from the previous range of between $26.65 and $27.65. Michel Vounatsos, Biogen’s chief executive, said the company was on track for a “strong year”.
Shares of Biogen Inc. surged 5.0% in premarket trading Tuesday, after the biotechnology company reported second-quarter earnings and revenue that were well above expectations and lifted its full-year outlook. Net income rose to $1.49 billion, or $7.85 a share, from $867 million, or $4.18 a share, in the year-ago period. Excluding non-recurring items, adjusted EPS grew to $9.15 from $5.80, beating the FactSet consensus of $7.53. Revenue grew 8% to $3.62 billion, above the FactSet consensus of $3.48 billion. Multiple sclerosis revenue rose 3% to $2.4 billion, as Tecfidera sales increased 6% to $1.15 billion to top expectations of $1.10 billion. Spinraza sales increased to $488 million from $423 million, below the FactSet consensus of $531.6 million. For 2019, the company raised its adjusted EPS outlook to $31.50 to $32.30 from $28.00 to $29.00 and its revenue guidance to $14.0 billion to $14.2 billion from $13.6 billion to $13.8 billion. Biogen's stock has slumped 23% year to date through Monday, while the S&P 500 has gained 19%.
Investing.com - Biogen (NASDAQ:BIIB) reported second quarter earnings that beat analysts' expectations on Tuesday and revenue that topped forecasts.
Investors will key into Biogen earnings before the market opens Tuesday to better understand the biotech company's ongoing efforts in Alzheimer's treatment, according to an analyst.
Investors have very little to look forward to when Biogen Inc. (NASDAQ: BIIB) reports its quarterly results on July 23 after the market closes. Biogen stock cratered in late March when its potential Alzheimer's treatment, aducanumab, failed. What, if anything, should investors look for in Biogen's upcoming quarterly report? Biogen's Positive DevelopmentsSource: Shutterstock Biogen is trying to pick itself up months after Biogen stock got hammered back in March, sinking from $320 to as low as $220 after BIIB and Eisai terminated two trials of their Alzheimer's drug. * 7 Defense Stocks to Buy to Fortify Your Portfolio Still, BIIB's MS franchise remains a key player in its long-term strategy. The unit brings in over $9 billion of annual revenue. Biogen also launched Spinraza, its spinal muscular atrophy product, and has plans to grow its biosimilars products. Its earnings per share has been growing at a compound annual growth rate of 15%.InvestorPlace - Stock Market News, Stock Advice & Trading TipsBiogen's consistent performance is keeping BIIB stock in a tight trading range between $225 and $240. With Biogen stock trading at a price-earnings ratio of less than ten, markets are not assigning any premium for the company's long-term growth prospects. Higher R&D Costs ExpectedTo maintain its focus and leadership in neuroscience, Biogen is investing a great deal of capital in R&D. The cycle of researching, discovering, and developing and commercializing products will play out over several years. The company has three franchises: MS is its core business, while it also has Spinraza and biosimilars.BIIB's efforts to grow beyond its core business will widen its addressable market, but does carry some risk. Commercializing more products takes time, money, and resources, and the sales of its newer products may initially lag those of its older ones. Still, Biogen is tackling the unmet needs of patients suffering from neurological diseases. Product PortfolioBiogen has 26 programs, including four growth areas and four emerging ones. This large scope diversifies the company and lessens its reliance on blockbusters. In the next 18 months, it will have over ten data readouts. Any positive clinical results should gain investors' attention and might lift Biogen stock. Quarterly Earnings Expectations12 analysts who cover BIIB stock have an average Q2 EPS estimate of $7.40, per Tipranks.That is sharply higher than the $5.80 EPS that BIIB reported for Q2 of 2018. The global launch of Spinraza's likely boosted BIIB's revenue last quarter. The company said that the product is meeting unmet medical needs in the U.S. and in overseas markets.In 2018, BIIB generated $6.2 billion of cash flow from its operations. Based on that metric, Biogen stock has a future cash flow value of $319, (per simplyWallSt) sharply higher than its recent price of $233.But nine analysts have a "hold" on Biogen stock and just two call BIIB stock a "buy." Analysts' average price target on BIIB stock is $248. The Bottom Line on Biogen StockBiogen, like most other biotechnology companies, is facing increased competition. But Biogen earnings on July 23 should demonstrate its resiliency. As mentioned above, its MS franchise generates $9 billion of annual revenue, but the annual global addressable MS treatment market is $20 billion, suggesting the franchise can grow further.Meanwhile, as Spinraza's sales grows, the owners of Bioogen stock will focus on the long-term growth prospects of the drug. Biogen earnings will enable investors to assess whether Biogen's MS franchise and its Spinraza drug are on the right track.As of this writing, the author did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Defense Stocks to Buy to Fortify Your Portfolio * 10 High-Flying, Overvalued Stocks in Danger of Crashing * 8 Stocks to Buy That Are Growing Faster Than Amazon The post MS Franchise, Spinraza Likely to Be Key Catalysts for Biogen Stock appeared first on InvestorPlace.
Celgene Corp., Biogen Inc., Bristol-Myers Squibb Co. and AbbVie Inc. are all scheduled to report earnings this week. Biogen is scheduled to report second-quarter earnings before the opening bell on Tuesday.
Biotech stocks had a relatively muted performance last week. Johnson & Johnson (NYSE: JNJ ) kick started the second-quarter reporting season for big pharma companies, beating forecasts and an upward adjustment ...
While sales of Biogen's (BIIB) MS franchise are expected to decline in the second quarter of 2019, Spinraza U.S. sales may improve.
Gene therapy developers might steal all of the headlines, but manufacturing is likely to be the more lucrative investing opportunity -- for both companies and investors.
Japanese drugmaker Eisai is investing $120 million over three years in an Alzheimer's research center — a 20 percent increase over the funding Eisai originally had allocated for the facility.
Biogen (BIIB) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Amgen (AMGN) and Novartis (NVS) discontinue two Alzheimer's disease studies. Alzheimer's has always been a highly challenging area with many studies failing.
Here are two pharmaceutical companies that are presently being downgraded by analysts but that are expected to gain strength as the year progresses. It’s an inversion of the axiom, “Past performance is not guarantee of future results.” The risk of investing in them may be large but so are the potential rewards for farsighted investors. AbbVieAbbVie (ABBV) has been experiencing a drop in its shares for the last several months. The major reason for its decline is its biologic immunology drug Humira accounting for the biggest part of its revenue.Humira sales have been weaker lately. Rated as one of the top-selling drugs in 2018, Humira started losing a competition with cheaper medicines in 2019. In the first quarter of this year, it brought in revenue of $4.45 billion, which is 5.6% less than the company’s last year revenue.AbbVie faced other setbacks. Its cancer drug Rova-T failed to become a great commercial success. AbbVie’s testing of Venclexta, a multiple myeloma drug, was not successful either and negatively affected its stock. Over the past 12 months, AbbVie’s shares dipped 14%. Its net earnings decreased to $1.65 per share in the first quarter of 2019, from $1.74 per share a year earlier.On June 25, AbbVie announced a definitive agreement to acquire Allergan (AGN) in a cash and stock transaction for a total consideration of $63 billion. The news worked to its financial disadvantage. As soon as AbbVie’s intentions became known, its stock sank 16%, because investors estimated its plans as a mistake. When investors recovered from the news, AbbVie’s stock went up - but only slightly so. As a result, for the last six months, analysts have strongly been advising to put any investment in AbbVie on hold. As of writing, the average price given by analysts to the company’s shares is $79.33, with only 10.95% upside. Yet there are positive signs that AbbVie can soon stop its downward progression. It has recently signed lucrative deals with Mylan NV and Amgen Inc (AMGN). It is also working on a new cancer drug called Imbruvica. The drug may help move abnormal B cells out of their nourishing environment in the lymph nodes, bone marrow, and other organs.In June, Imbruvica was ranked as the fifth drug thought to become a blockbuster in the near future. According to EvaluatePharma, AbbVie’s new drug may bring it $9.5 billion in sales in 2024. The company’s two other drugs – Orilissa and Skyrizi – are also expected to sell well and thus enlarge its profits. After the projection made by EvaluatePharma, Goldman Sachs analyst Terence Flynn increased his price target to $84. He thinks that the sales from AbbVie’s cancer drugs and new immunology drugs will generate enough revenue to balance out the losses brought by Humira. Other analysts hope for the company’s strength, too. As AbbVie approaches its Q2 earnings release, analysts expect that it will report $2.21 per share, which would represent year-over-year growth of 10.5%. The blogger Wolf Report agrees: “ I'm bullish on AbbVie. It remains one of my largest pharma stocks, and I'm willing to add more, should the opportunity present itself. And I believe that it now has, and may even improve going forward.”Analyst Ratings & Price Targets on AbbVie BiogenBiogen (BIIB) had a rough start of the year. Within the first six months of 2019, the company tumbled by 22.3%, erasing 17 billion in valuation. There are several reasons for Biogen’s unsightly decline. One is the failure of the Alzheimer’s project aducanumab. At two late-stage trials it became clear that the anti-amyloid MAb, which Biogen believed would clear amyloid lesions, could not prevent the disease.Biogen’s shares also dropped because of the competition with Novartis (NVS). Its drug Spinraza that cures pediatric spinal muscular atrophy and generates the bulk of its profits can be upstaged by Novartis’s recently approved medicine Zolgensma. The Institute for Clinical and Economic Review (ICER) said in January that Zolgensma, which also treats spinal muscular atrophy in small children, could be more cost-effective than Biogen’s drug with a one-time price of $2 million. Biogen’s multiple-sclerosis franchise also failed to live up to its promise, undermined by a competition with such companies as Roches and Novartis. A preferable alternative to Biogen’s main MS medicines, Tysarabi and Tecfidera, Roches’ drug Ocrevus has been diminishing Biogen’s profits since the third quarter of 2017. This year, the competition between the MS medicine producers intensified, when Novartis introduced Mayzent that costs about $88,500 a year. This is about 7% less than Biogen’s Tysarabi and Tecfidera.But Biogen still has several ongoing medical trials to its credit. It is presently developing its next MS medicine Vumerity, whose approval might happen later this year. Investors may also follow Biogen’s earlier-stage pipeline for inherited disease of the eye, pain management, and cardiovascular disease. Biogen might also make several acquisitions in 2019. There are rumors that its recent purchase of Nightstar Therapeutics, a gene therapy company, will be followed by other acquisitions. Analysts suggest that such companies as Neurocrine Bioscience (NBIX), Sage Therapeutics (SAGE), and Ionis Pharmaceuticals (IONS) would enhance Biogen’s holdings. But even if no additional purchase is made, Nightstar Therapeutics can become for Biogen a useful springboard for building an eye disease franchise that will push its profit up in the coming several years. True, some analysts advise not to invest in Biogen for the time being, but there are others who are bullish on its stock. H.C. Wainwright analyst Andrew Fein maintains a Buy rating on Biogen, with a price target of $300. Analyst Ratings & Price Targets on Biogen Inc
With key drugs losing exclusivity, key drug makers are poised to face deep trouble since their sales are mostly dependent on a single drug.
Roughly 18 months after launching with $8 million in seed financing, the startup has developed a long list of partners, primarily those looking to tackle neurological diseases.
Biogen (BIIB) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
Biogen stock is down 21% since the start of the year, but Citi Research sees some light at the end of the tunnel.
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
We compared 96 Massachusetts-based public companies on a metric proposed in 2007 by McKinsey & Co. as an alternative to measuring companies solely by return on investment capital.
A federal judge dealing a blow to the Trump Administration by striking down a new rule that would have forced pharma companies to include the wholesale prices of their drugs in TV ads. Yahoo Finance's Seana Smith and Alexis Keenan discuss.