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 saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on April 02, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 49 instances where the indicator turned negative. In of the 49 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
The Momentum Indicator moved below the 0 level on March 22, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on BIIB as a result. In of 87 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
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 Aroon Indicator for BIIB entered a downward trend on April 23, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The RSI Indicator entered the oversold zone -- be on the watch for BIIB's price rising or consolidating in the future. That's also the time to consider buying the stock or exploring call options.
The Stochastic Oscillator shows that the ticker has stayed in the oversold zone for 15 days. The price of this ticker is presumed to bounce back soon, since the longer the ticker stays in the oversold zone, the more promptly an upward trend is expected.
BIIB may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
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 fairly steady price growth. BIIB’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
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 73, 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