Biogen (BIIB) April weekly option implied volatility into quarter results
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April 24, 2024 9:06 AM EDT
JPMorgan analyst Chris Schott reiterated a Neutral rating on Biogen (NASDAQ: BIIB).
The analyst comments "This morning, BIIB reported 1Q results that were in line on the top line (Spinraza miss/Tecfidera beat) and ahead on the bottom line and the company... More
April 24, 2024 7:57 AM EDT
BMO Capital analyst Evan David Seigerman reiterated an Outperform rating and $260.00 price target on Biogen (NASDAQ: BIIB).
The analyst comments "Topline miss countered by operating expense efficiency gains from "Fit for Growth" initiative. Topline miss (-1% vs. cons.) mostly driven by Spinraza... More
April 24, 2024 7:02 AM EDT
(Updated - April 24, 2024 9:42 AM EDT)
Biogen (NASDAQ: BIIB) reported its first quarter 2024 earnings, surpassing analyst expectations for adjusted earnings per share (EPS) but falling slightly short on revenue. The company announced an adjusted EPS of $3.67, which was $0.24 higher than the analyst estimate of $3.43. However, revenue for the quarter was $2.29 billion, just below the consensus estimate of $2.31 billion.
The pharmaceutical giant experienced a 7% decline in total revenue compared to the same quarter last year, highlighting challenges in the market. Despite this, Biogen's GAAP operating income saw a 10% increase, and adjusted operating... More
