Biogen Inc (BIIB) reported quarterly earnings results on Thursday, Jul-21-2016. The company said it had a profit of $5.21 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.52. Analysts had a consensus of $4.69. The company posted revenue of $2894.00 million in the period, compared to analysts expectations of $2790.65 million. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.22 EPS.
Many Wall Street Analysts have commented on Biogen Inc. Biogen Inc was Initiated by Bernstein to “Outperform” on Jun 29, 2016. Biogen Inc was Downgraded by Citigroup to ” Neutral” on Jun 7, 2016.
Biogen Inc opened for trading at $259.87 and hit $263.16 on the upside on Wednesday, eventually ending the session at $262.41, with a gain of 1.00% or 2.59 points. The heightened volatility saw the trading volume jump to 18,30,168 shares. Company has a market cap of $57,481 M.
In a different news, on Jun 7, 2016, Adam Koppel (EVP, Strategy and Bus. Dev.) sold 555 shares at $290.00 per share price. According to the SEC, on Jun 6, 2016, George A Scangos (Chief Executive Officer) sold 842 shares at $290.00 per share price. On Feb 26, 2016, Alfred Sandrock (EVP CMO Neuro & Neurodegenerat) sold 183 shares at $261.90 per share price, according to the Form-4 filing with the securities and exchange commission.
Biogen Inc. formerly Biogen Idec Inc. is a global biopharmaceutical company. The Company is focused on discovering developing manufacturing and delivering therapies for neurological autoimmune and hematologic disorders. The Company develops manufactures and markets products designed for the treatment of multiple sclerosis (MS) and hemophilia A and B. The Company’s marketed products include AVONEX PLEGRIDY TECFIDERA TYSABRI FAMPYRA for multiple sclerosis (MS) ALPROLIX for hemophilia B and ELOCTATE for hemophilia A among others. It also collaborates on the development and commercialization of RITUXAN (rituximab) which is a monoclonal antibody for the treatment of non-Hodgkin’s lymphoma chronic lymphocytic leukemia and other conditions and share profits and losses for GAZYVA which is for the treatment of chronic lymphocytic leukemia.