Biogen profit rises 72% on multiple sclerosis therapy sales [Reuters]
Biogen Inc. (BIIB)
Last biogen inc. earnings: 4/22 07:12 am
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Source: Reuters
Biogen profit rises 72% on multiple sclerosis therapy sales - Reuters 2 Min Read (Reuters) - Biogen Inc ( BIIB.O ) posted a 72% rise in quarterly profit and lifted its 2019 earnings forecast on Tuesday, boosted by higher sales of its top-selling multiple sclerosis therapy Tecfidera. Shares of the company rose 5.4% to $244.99 before the bell, as the U.S. biotechnology company raised its 2019 adjusted earnings forecast to between $31.50 and $32.30 per share from the prior range of $28 to $29. Analysts were expecting earnings of $29.70 per share, according to IBES data from Refinitiv. Tecfidera brought in $1.15 billion in second-quarter sales, beating estimates of $1.05 billion. On the other hand, sales of spinal muscular atrophy treatment Spinraza, the company’s most closely watched growth driver, came in at $488 million, missing estimates of $535.1 million. Net income attributable to the company rose to $1.49 billion, or $7.85 per share, in the quarter ended June 30, from $866.6 mill
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- Biogen Inc. (NASDAQ: BIIB) had its price target lowered by analysts at Bank of America Co. from $280.00 to $260.00. They now have a "neutral" rating on the stock.MarketBeat
- Biogen Inc. (NASDAQ: BIIB) had its price target lowered by analysts at JPMorgan Chase & Co. from $270.00 to $240.00. They now have a "neutral" rating on the stock.MarketBeat
BIIB
Earnings
- 2/14/24 - Miss
BIIB
Sec Filings
- 4/12/24 - Form PRE
- 4/3/24 - Form 4
- 4/3/24 - Form 4
- BIIB's page on the SEC website