Biogen Beats Q2 Estimates, Raises Revenue Outlook on Rare-Disease Strength
BIIB sits 72% above its 52-week low of $124.556.
Summary
Biogen delivered a strong Q2 beat with adjusted EPS of $3.60 vs. $2.95 consensus and revenue of $2.74B vs. $2.46B, driven by rare-disease drugs and the Apellis acquisition. The company raised its full-year revenue guidance to mid-single-digit growth from a prior decline, signaling a turnaround. However, it slashed adjusted EPS guidance to $12-$13 from $14.25-$15.25 due to $3.85/share in acquisition charges. Rare-disease sales grew 11% to $602M, Leqembi rose 15% to $184M, while MS drugs fell 13% to $963M. CEO Viehbacher highlighted the growth portfolio's ability to return Biogen to growth, with late-stage pipeline assets adding upside. Shares rose nearly 5% on the news. This follows the Apellis acquisition close in May and positive Phase 3 lupus data in June, reinforcing the narrative of a pipeline-driven recovery.
At the time of this announcement, BIIB was trading at $214.75 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $31.7B. The 52-week trading range was $124.56 to $219.72. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.