The TRANSCEND phase III study by BIIB will include around 120 adult kidney transplant patients who have been diagnosed with late acute antibody-mediated rejection (AMR) and will be testing the drug felzartamab.
Biogen Inc. (NASDAQ:BIIB) will participate in the Leerink Global Healthcare Conference on March 10, 2025, at 11:20 AM ET. Alisha Alaimo, the President of North America, will represent the company. Marc Goodman from Leerink Partners will be hosting the session.
Biogen Inc. (NASDAQ:BIIB) will participate in the TD Cowen 45th Annual Health Care Conference on March 3, 2025, at 9:10 AM ET. Chris Viehbacher, the CEO of Biogen, will be featured in a discussion led by Phil Nadeau, a biotech analyst at Cowen. Good morning, and welcome to the conference!
Biogen Inc. (NASDAQ: BIIB) has seen a consistent drop since reaching a high of $468.55 in 2021, with its shares now down 70.64% to a 12-year low of $137.33. The biotechnology company is currently valued at a low price-earnings (P/E) ratio of 12.41, which is significantly below the industry average of 29.52.
Biogen's earnings for the fourth quarter of 2024 revealed a small increase in revenue, but investors on Wall Street are not very impressed because of poor forecasts and falling sales in important drug areas. The sales of Leqembi have been underwhelming, similar to the struggles of Aduhelm, and Biogen's future product lineup does not have strong options for growth. Additionally, the multiple sclerosis segment is decreasing, and new drug approvals such as Qalsody and Skyclarys have had little effect on revenue.
On Wednesday, Biogen Inc. announced that its adjusted earnings per share for the fourth quarter were $3.44, which is a 17% increase and higher than the expected $3.35.
BIIB's earnings and sales for the fourth quarter exceeded predictions. However, their earnings per share forecast for 2025 does not meet expectations.
Biogen Inc. (BIIB) reported quarterly earnings of $3.44 per share, which is higher than the Zacks Consensus Estimate of $3.42 per share. This is an increase compared to last year's earnings of $2.95 per share.
Sales of a treatment for Alzheimer's disease exceeded expectations, but even with a strong quarterly performance, it wasn't enough to counter a lower-than-expected earnings per share forecast.
Biogen reported higher-than-expected revenue and profit for the fourth quarter, thanks to successful cost reductions and growth from new products like its innovative Alzheimer's treatment, Leqembi. However, the company projected adjusted earnings for 2025 to be between $15.25 and $16.25 per share, which is below Wall Street's expectation of $16.34 per share.