Biogen Inc. (NASDAQ:BIIB) biotech drug manufacturer, is expected to report third quarter earnings results, before market open, on Wednesday 21st October 2020.
Analysts polled by Thomson Reuters anticipate third quarter income of $ 8.13 per share.
Looking ahead, the full year income are expected at $ 34.77 per share on the revenues of $ 13833.70 million.
The Company Outlook
Full Year 2020 topline are forecasted in a range of$ 13800.00 million ~ $ 14200.00 million, where as bottomline are predicted in a range of $ 34.00 ~ $ 36.00 per share
Click Here For More Historical Outlooks Of Biogen Inc.
Previous Quarter Performance
Biogen Inc. communicated income for the second quarter of $ 9.59 per share, from the revenue of $ 3,682.00 million, On adjusted basis, BIIB reported income for the quarter of $ 10.26 per share. The quarterly earnings developed 22.17 percent while revenues gained 1.81 percent compared with the same quarter last year. Street analysts expected Biogen Inc. to report income of $ 8.04 per share on revenue of $ 3439.71 million for the second quarter. The bottom line results beat street analysts by $ 2.22 or 27.61 percent, at the same time, top line results outshined analysts by $ 242.29 million or 7.04 percent.
Stock Performance
Shares of Biogen Inc. traded low $ -1.65 or -0.61 percent on Tuesday, reaching $ 267.12 with volume of 1.13 million shares. Biogen Inc. has traded high as $ 271.98 and has cracked $ 266.09 on the downward trend
The closing price of $ 267.12, representing a 4.34 % increase from the 52 week low of $ 257.60 and a 28.33 % decrease over the 52 week high of $ 374.99.
The company has a market capital of $ 42.29 billion and is part of the Healthcare sector and Drug Manufacturers – Major industry.
Recent Analyst recommendations
- On 15th October 2020, maintained by Bank of America at Underperform rating, with $ 235.00 target price.
- On 13th October 2020, maintained by Morgan Stanley at Overweight rating, with $ 355.00 target price.
- On 18th September 2020, maintained by RBC Capital at Sector Perform rating, with $ 277.00 target price.
Conference Call
Biogen Inc. will be hosting a conference call at 8:00 AM eastern time on 21st October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.biogen.com
Biogen Inc. discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases worldwide. The company offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for the treatment of multiple sclerosis (MS); SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of plaque psoriasis.
