Biogen reported on Thursday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Biogen announced earnings per share of $8.34 on revenue of $3.67B. Analysts polled by anticipated EPS of $7.94 on revenue of $3.52B. That with comparison to EPS of $6.99 on revenue of $3.53B in the same period a year before. Biogen had reported EPS of $9.17 on revenue of $3.6B in the previous quarter. Analysts are expecting EPS of $7.89 and revenue of $3.42B in the upcoming quarter.
Biogen shares are down 4% from the beginning of the year and are trading at $282.52 , still down 16.63% from its 52 week high of $338.87 set on February 5, 2019. They are under-performing the NASDAQ 100 which is up 3.4% year to date.
Biogen follows other major Healthcare sector earnings this month
Biogen's report follows an earnings beat by J&J on January 22, who reported EPS of $1.88 on revenue of $20.75B, compared to forecasts EPS of $1.87 on revenue of $20.8B.
Novartis ADR had beat expectations on Wednesday with fourth quarter EPS of $1.32 on revenue of $12.4B, compared to forecast for EPS of $1.31 on revenue of $12.33B.
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