|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||262.27 - 274.40|
|52 Week Range||244.28 - 370.57|
|PE Ratio (TTM)||22.60|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
The biotech sector grabbed headlines last week as a couple of biotechs reported results while few others came out with pipeline updates.
On April 20, Biogen (BIIB) and Ionis Pharmaceuticals (IONS) announced the expansion of their strategic collaboration to develop drug candidates targeted at a range of neurological diseases. This key move builds on the productive collaboration between the two companies that led to the development of Spinraza, the first and only approved treatment for patients with spinal muscular atrophy, along with two antisense drug candidates that are currently under development.
On another down day for the market, biotech is a bright spot: Shares of Amgen (AMGN) have reversed earlier losses after reporting first-quarter earnings, and Biogen (BIIB) is rising. Amgen said it earned $3.47 a share on revenue of $5.55 billion, while analysts were looking for EPS of $3.25 on revenue of $5.44 billion. Credit Suisse's Alethia Young reiterated a Neutral rating Amgen, but she has a $194 price target, comfortably above the stock's current levels.
The Street’s becoming increasingly — albeit reluctantly — bullish on Biogen Inc (NASDAQ: BIIB ). “While we have all the enthusiasm that goes with catching a falling knife here, we believe BIIB shares are ...
In 1Q18, Biogen’s (BIIB) Tecfidera generated revenues of $987 million compared to $958 million in 1Q17. In 1Q18 in the US and international markets, Tecfidera generated revenues of $729 million and $258 million, respectively, compared to $751 million and $207 million, respectively, in 1Q17. In 1Q18, in the US and international markets, Tecfidera witnessed a 12% decline and a 6% growth, respectively, on a quarter-over-quarter basis.
In 1Q18, Biogen’s (BIIB) Spinraza generated revenues of $364 million compared to $47 million in 1Q17 and $363 million in 4Q17. In 1Q18 in the US and international markets, Spinraza generated revenues of $188 million and $176 million, respectively, compared to $46 million and $1 million, respectively, in 1Q17. Spinraza is used in the treatment of individuals with spinal muscular atrophy.
In 1Q18, Biogen (BIIB) generated revenues of $3.1 billion compared to $2.8 billion in 1Q17. That was an ~11% growth on a year-over-year (or YoY) basis and a ~5% decline on a quarter-over-quarter basis.
The expensive rare disease therapy Spinraza has quickly become a critical part of Biogen’s performance, but the latest sales figures were sluggish.
An analysis of the technical chart of Biogen Inc. ( BIIB) shows the stock could be set to rebound by about 7%, giving shares the chance to rise back towards $282 from its price of roughly $263, a jump of about 7.5%. Biogen shares were up by roughly 1% on April 24, after the company reported better than expected first-quarter earnings per share, and revenue that was in line with estimates. Biogen's stock has been hit hard in 2018, with the stock down by nearly 30%, since late January peaking near $370 per share. Biogen shares fell to an intraday low of $251, a significant technical support level, that goes back to July of 2016.
Biotech giant Biogen needs to quickly rebuild its new drug pipeline, a risky and expensive undertaking, to win investors back.
It’s a busy week for pharmaceutical companies, with Eli Lilly And Co (NYSE:LLY), Biogen Inc (NASDAQ:BIIB), and Amgen, Inc. (NASDAQ:AMGN) having released their earnings report today. For Eli Lilly stock, investors sought a definitive sign where the renowned firm was headed. Since early summer of 2015, Eli Lilly stock gyrated wildly between bullish and bearish phases, only to come out dead even.
Drugmaker Biogen Inc's quarterly revenue missed analysts' estimates on Tuesday as it had disappointing sales of its promising drug Spinraza to treat spinal muscular atrophy because fewer new patients used the expensive treatment. Biogen shares fell in early trade after sales of Spinraza as well as its flagship drug, Tecfidera, were weaker than expected, underscoring investor concerns about the company's drug development prospects.
Biogen's (BIIB) earnings beat estimates but sales miss the same marginally in Q1. The company's latest key drug Spinraza's tepid sales compares with its sequential tally.
Biogen is a healthy biotechnology company producing a stream of illness-fighting drugs. Its big sellers treat MS, and it is diversifying its product line.
Biogen Inc. shares dropped 2.4% in premarket trade Tuesday after the company reported a first-quarter sales miss. Earnings for the latest quarter rose to $1.2 billion, or $5.54 per share, from $748 million, ...
Drug developer Biogen Inc reported a 57 percent jump in quarterly profit on Tuesday, helped by higher sales of its spinal muscular atrophy drug, Spinraza. Net income attributable to shareholders rose to ...
Wall Street analysts expect an ~3.0% increase in Eli Lilly & Co.’s (LLY) 1Q18 revenues to $5.5 billion. Eli Lilly’s products are sold in more than 120 countries, and its international sales comprise ~45.0% of its total revenues. As a result, the company is exposed to currency risk, and foreign exchange is expected to have a positive impact on its overall revenues during 1Q18.
Three pharma/biotech bigwigs are set to release earnings report on Apr 24. Let's sneak a peek into how the companies are placed ahead of the upcoming results.
Below is a list of notable corporate events for the week beginning April 23. Note, this list is not comprehensive and all dates are subject to change. All times are ET. View more earnings on AMD Monday ...