Biogen Stock Is Falling Despite an Upbeat Outlook. Here's Why. | BIIB Message Board Posts


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Msg  726 of 735  at  7/20/2022 5:02:52 PM  by

jerrykrause


Biogen Stock Is Falling Despite an Upbeat Outlook. Here's Why.

Biogen Stock Is Falling Despite an Upbeat Outlook. Here's Why.
 

Biogen warned the impact of generics, medication created by rivals to mimic its own brands, could continue to cause revenue declines.

This overshadowed a better than expected financial outlook from the biotech, sending the stock down sharply Wednesday.

Biogen said it expects earnings to be somewhere between $15.25 to $16.75 per share for this year, more than its prior expectation of $14.25 to $16.00 a share. The new guidance is within the analysts' estimates of $15.43 per share.

Revenue expectations were lifted to $9.9 to $10.1 billion versus $9.7 to $10.0 billion earlier. This range also falls within the prediction of $9.83 billion.

But investors seemed to focus on the fact that the guidance – while higher – assumes revenue erosions. The stock fell almost 3% in premarket trading to $214, after rising as much as 2% when the report came out.

The company (ticker: BIIB) said adjusted earnings were $5.25 per share for the second quarter versus analysts' estimates of $4.06, according to FactSet. Revenue of $2.59 billion was higher than predictions of $2.47 billion. A year earlier Biogen reported $2.78 billion in revenue.

 


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