Biogen's stock rockets after earnings beat, Alzheimer's treatment heads for regulatory approval process [MarketWatch]
Biogen Inc. (BIIB)
Last biogen inc. earnings: 4/22 07:12 am
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Source: MarketWatch
Biogen's stock rockets after earnings beat, Alzheimer's treatment heads for regulatory approval process Shares of Biogen Inc. BIIB, +1.57% rocketed 35% in premarket trading Tuesday, after the biotechnology company reported third-quarter profit and revenue that beat expectations and said it would pursue regulatory approval of its Alzheimer's treatment. Net income rose to $1.55 billion, or $8.39 a share, from $1.44 billion, or $7.15 a share, in the year-ago period. Excluding non-recurring items, adjusted EPS rose to $9.17 from $7.40 to beat the FactSet consensus of $8.28. Revenue grew 5% to $3.60 billion, above the FactSet consensus of $3.54 billion. Revenue for Tecfidera, Biogen's biggest seller, increased 3% to $1.12 billion to match expectations. Earlier, the company said a phase 3 trial of aducanumab, an investigational treatment for Alzheimer's, met its primary endpoint, and as a results, the company said it will pursue regulatory approval. The stock has lost 25.7% year to date
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BIIB
News
- Biogen Inc. (NASDAQ: BIIB) had its price target raised by analysts at HSBC Holdings plc from $339.00 to $342.00. They now have a "buy" rating on the stock.MarketBeat
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- Biogen Reports Progress on Corporate Responsibility PrioritiesGlobeNewswire
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- Biogen: Reasons To Be Cheerful After Upbeat Q1 Earnings [Seeking Alpha]Seeking Alpha
BIIB
Earnings
- 4/25/24 - Beat
BIIB
Sec Filings
- 5/3/24 - Form 4
- 4/26/24 - Form ARS
- 4/26/24 - Form DEFA14A
- BIIB's page on the SEC website