Biogen (BIIB) is technically in oversold territory now, so the heavy selling pressure might have exhausted. This along with strong agreement among Wall Street analysts in raising earnings estimates could lead to a trend reversal for the stock.
Biogen reported its Q3 earnings yesterday, October 30. Revenue of $2.5bn was reported and non-GAAP EPS of $4.08. Growth was generally flat or declining for many key assets, with the performance of AD drug Leqembi especially underwhelming.
Biogen Inc BIIB reported upbeat earnings for the third quarter on Wednesday.
BIIB's Q3 earnings and sales beat estimates. The company raises its EPS guidance for 2024 by 35 cents.
Biogen Inc. (NASDAQ:BIIB ) Q3 2024 Earnings Call Transcript October 30, 2024 8:30 AM ET Company Participants Stephen Amato - Senior Director of IR Chris Viehbacher - President and CEO Priya Singhal - Head of Development Mike McDonnell - CFO Alisha Alaimo - Head & President of North America Conference Call Participants Brian Abrahams - RBC Capital Markets Phil Nadeau - TD Cowen Marc Goodman - Leerink Salveen Richter - Goldman Sachs Michael Yee - Jefferies Umer Raffat - Evercore ISI Jay Olson - Oppenheimer Evan Seigerman - BMO Capital Markets Paul Matteis - Stifel Terence Flynn - Morgan Stanley Operator Good morning. My name is Cynthia, and I will be your conference operator today.
While the top- and bottom-line numbers for Biogen (BIIB) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Biogen Inc. (BIIB) came out with quarterly earnings of $4.08 per share, beating the Zacks Consensus Estimate of $3.77 per share. This compares to earnings of $4.36 per share a year ago.
“We continue to see momentum with ongoing product launches and we are increasingly excited about the potential of our pipeline,” the company's CEO said.
Biogen raised annual profit forecast and beat third-quarter profit expectations on Wednesday, as its cost-cutting measures helped make up for falling sales of its multiple sclerosis medicines.
Biogen reported third-quarter revenue and adjusted earnings that topped expectations. The company also raised its full-year profit guidance.
Biotechnology firm Biogen Inc (NASDAQ:BIIB) is scheduled to report third-quarter results before the open on Wednesday, Oct. 30.
Evaluate the expected performance of Biogen (BIIB) for the quarter ended September 2024, looking beyond the conventional Wall Street top-and-bottom-line estimates and examining some of its key metrics for better insight.