Biogen (BIIB) Gains 5% on Strong Q4 Results, Promising Outlook

January 27, 2016 8:23 AM EST

News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.

Biogen (NASDAQ: BIIB) is trading up 4.9% in pre-open trading Wednesday following strong fourth quarter results and solid guidance.

Biogen reported Q4 EPS of $4.50, $0.42 better than the analyst estimate of $4.08. Revenue for the quarter rose 8% to $2.84 billion versus the consensus estimate of $2.71 billion.

TECFIDERA revenues were $993 million compared to $916 million in the same quarter last year. This was above the consensus of $939.5 million.

Biogen sees FY2016 EPS of $18.30-$18.60, versus the consensus of $18.45. Biogen sees FY2016 revenue of $11.1-11.3 billion, versus the consensus of $11.29 billion.

The company is looking to launch three new products this year: BENEPALI®, ZINBRYTATM, and an infliximab biosimilar.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Earnings, Hot Earnings, Trader Talk

Related Entities

Pre Market Movers