Biogen's stock falls 6% though earnings beat expectations [MarketWatch]
Biogen Inc. (BIIB)
Last biogen inc. earnings: 4/22 07:12 am
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Source: MarketWatch
Shares of Biogen Inc. tumbled 6% in premarket trading on Wednesday even though the drugmaker beat earnings expectations for the quarter. Biogen had net earnings of $1.39 billion, or $8.08 per share, in the first quarter of 2020, down from $1.41 billion, or $7.15 per share, in the like period a year ago. The FactSet consensus was $1.36 billion, or $7.69 per share. Revenue rose 1% to $3.53 billion in the first quarter of the year, compared with $3.49 billion in the same quarter in 2019, against a FactSet consensus of $3.41 billion. Sales of its spinal muscular atrophy treatment Spinraza rose 9% to $565 million for the quarter, and the company reported an additional $100 million in revenue from accelerated sales as people picked up prescriptions earlier than expected as they prepared for stay-at-home orders, primarily in Europe. It plans to complete the regulatory filing for its experimental and somewhat controversial Alzheimer's disease drug aducanumab in the third quarter of this year.
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- Biogen (NASDAQ:BIIB) had its price target raised by analysts at Jefferies Financial Group Inc. from $190.00 to $210.00. They now have a "buy" rating on the stock.MarketBeat
- Eisai Completes Rolling Submission to U.S. FDA for LEQEMBI® IQLIK™ (lecanemab-irmb) Supplemental Biologics License Application as a Subcutaneous Starting Dose for the Treatment of Early Alzheimer's Disease Under Fast Track StatusPR Newswire
BIIB
Earnings
- 10/31/25 - Beat
BIIB
Sec Filings
- 12/3/25 - Form 4
- 11/13/25 - Form SCHEDULE
- 11/10/25 - Form SCHEDULE
- BIIB's page on the SEC website