1 week ago

Biogen Analysts Slash Their Forecasts After Q3 Results

Biogen Inc (NASDAQ:BIIB) reported upbeat earnings for the third quarter on Wednesday.

The company pisted third-quarter adjusted EPS of $4.08, down 6%, beating the consensus of $3.79. The company reported sales of $2.47 billion, down 3% year over on constant currency and reported basis, beating the consensus of $2.43 billion.

Biogen raised its 2024 adjusted EPS guidance to $16.10-$16.60 versus prior guidance of $15.75-$16.25 and consensus of $16.19. Biogen continues to expect 2024 revenue to decline by a low-single-digit percentage, with core pharmaceutical revenue to be relatively flat compared to 2023, as further declines in multiple sclerosis product revenues are expected ...

Full story available on Benzinga.com

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