Biogen Inc. topped analysts’ estimates in both earnings and revenue, while also indicating renewed hope for a Alzheimer’s therapy.
The biotech company's third-quarter 2019 earnings per share of $9.17 beat the Zacks Consensus Estimate of $8.28. Earnings rose +24% year over year.
The company’s sales for the quarter increased +5% year-over-year to $3.6 billion, surpassing Zacks Consensus Estimate of $3.53 billion.
Biogen’s product revenue increased +4% year-over-year for the quarter, while its royalty from sales of Roche’s MS drug, Ocrevus surged +37% year-over-year. Revenues from Biogen’s share of Rituxan and Gazyva operating profits increased +9%. Other revenues declined -26%.
The company’s MS revenues including Ocrevus royalties, increased +2% .
Spinal Muscular Atrophy drug Spinraza sales rose +17% year-over-year. The number of patients on Spinraza grew approximately 3% in the U.S., and 18% outside the United States quarter-over-quarter.
Combined interferon revenues (Avonex and Plegridy) fell -10% year over year.
In Biosimilars (Samsung Bioepis, the joint venture between Biogen and Samsung BioLogics), BENEPALI revenue fell -6% y-o-y, IMRALDI which was launched in mid-October last year had a +4% growth quarter-over-quarter, while FLIXABI grew +63% year-over-year.
A major potential breakthrough for Biogen could be coming with new data revealing that aducanumab is pharmacologically and clinically active as determined by dose-dependent effects in reducing accumulation of amyloid, a kind of protein, in the arteries of the brain. Based on this data, Biogen plans to submit a biologics license application (BLA) seeking approval of aducanumab to the FDA in early 2020.
BIIB broke above its upper Bollinger Band on May 15, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The A.I.dvisor looked at 37 similar instances where the stock broke above the upper band. In of the 37 cases the stock fell afterwards. This puts the odds of success at .
The 10-day RSI Indicator for BIIB moved out of overbought territory on May 16, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 23 similar instances where the indicator moved out of overbought territory. In of the 23 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 15 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BIIB declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Momentum Indicator moved above the 0 level on April 26, 2024. You may want to consider a long position or call options on BIIB as a result. In of 87 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for BIIB just turned positive on April 24, 2024. Looking at past instances where BIIB's MACD turned positive, the stock continued to rise in of 49 cases over the following month. The odds of a continued upward trend are .
BIIB moved above its 50-day moving average on April 29, 2024 date and that indicates a change from a downward trend to an upward trend.
The 10-day moving average for BIIB crossed bullishly above the 50-day moving average on May 07, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 19 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where BIIB advanced for three days, in of 276 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 144 cases where BIIB Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. BIIB’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.110) is normal, around the industry mean (5.632). P/E Ratio (26.955) is within average values for comparable stocks, (48.974). BIIB's Projected Growth (PEG Ratio) (8.807) is slightly higher than the industry average of (3.004). Dividend Yield (0.000) settles around the average of (0.164) among similar stocks. P/S Ratio (3.181) is also within normal values, averaging (3.643).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BIIB’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 72, placing this stock worse than average.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of therapies for people living with neurological, autoimmune and hematologic disorders
Industry PharmaceuticalsMajor