Long-term Prospects for Biogen’s (BIIB) Aduhelm Remain Key Question - Analyst
Earlier today, Biogen (NASDAQ: BIIB) reported Q3 results: EPS of $4.77, $0.66 better than the analyst estimate of $4.11; revenue for the quarter came in at $2.78 million versus the consensus estimate of $2.67 million.
The company also updated its full-year guidance: EPS of $18.85-$19.35, versus the consensus of $18.61; FY2021 revenue of $10.8-10.9 billion, versus the consensus of $10.76 billion.
Commenting on the report, Mizuho analyst Salim Syed points out lower than expected sales of the company’s controversial Alzheimer’s drug Aduhelm, “which came in at $0.3MM vs sellside consensus of $16-17MM; buyside expectations were substantially lower, already.”
The analyst views the Aduhelm potential as the most pressing question on investors’ minds and will be seeking out management’s comments on the subject: “key questions on the call will likely continue to surround the Aduhelm launch, still "minimal Aduhelm revenue in 2021" per the guide, but more so how investors should be thinking about the long-term prospects for the drug, which remains modeled at $9Bn peak in sellside consensus.”
His view is shares by Robyn Karnauskas of Truist Securities, who reiterates that “Investor focus remains focused on Aduhelm coverage.”
BIIB will host a Conference Call at 8AM ET.
Shares of Biogen are gaining nearly 2% in early trading.
Written by Vlad Schepkov | [email protected]