Biogen earnings: what to look for from BIIB

Biotech company Biogen (NASDAQ:BIIB) will be announcing earnings results this Wednesday before market open. Here’s what to look for.

Biogen beat analysts’ revenue expectations last quarter, reporting revenues of $2.74 billion, up 3.4% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ full-year EPS guidance estimates.

Is Biogen a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Biogen’s revenue to grow 4% year on year, improving from the 2.8% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Biogen has a history of exceeding Wall Street’s expectations.

With Biogen being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for biotechnology stocks. However, there has been positive investor sentiment in the segment, with share prices up 3.1% on average over the last month. Biogen is up 10.3% during the same time .

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