Biogen Earnings, Sales Top Q2 Views; Stock Rises

Biogen stock rose slightly Thursday after the biotech company reported adjusted earnings of $5.68 per share on $2.78 in sales for its second quarter.


On average, analysts polled by FactSet expected Biogen (BIIB) to earn $4.55 per share on $2.61 billion in sales.

In the year-earlier period, Biogen earnings were $10.26 a share on $3.68 billion in sales.

For the year, Biogen guided to adjusted EPS of $17.50-$19. It raised its revenue target to $10.65 billion-$10.85 billion from $10.45 billion-$10.75 billion. Analysts called for adjusted profit of $18.50 per share and $10.61 billion in sales.

In premarket trading on the stock market today, Biogen stock rose 1.6%.

More to follow.

Follow Allison Gatlin on Twitter at @IBD_AGatlin.


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