Biogen Q3 Earnings Review: Why I Remain Optimistic Despite Difficult Quarter

Oct. 31, 2024 5:42 PM ETBiogen Inc. (BIIB) Stock8 Comments
Edmund Ingham
Investing Group Leader
(14min)

Summary

  • Biogen reported its Q3 earnings yesterday, October 30.
  • Revenue was $2.5bn, and non-GAAP EPS was $4.08.
  • Growth was generally flat or declining for many key assets, with the performance of the AD drug Leqembi especially underwhelming.
  • Nevertheless, Biogen remains a pioneer in CNS disease treatment, and compared to Big Pharma rivals, its shares remain an exceptionally good value for a "risk-on" investor.

Stanislaw Pytel

Investment Overview

Biogen Inc. (NASDAQ:BIIB) the central nervous system disease drug developer based in Cambridge Massachusetts, reported its Q3 earnings yesterday, Wednesday, October 30.

First, let's look at some headline figures - revenues came to $2.5bn for the quarter - down 3% year-on-year. Cost of sales

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About BIIB Stock

SymbolLast Price% Chg
BIIB
143.06-4.74%
Post143.500.31%
Created with Highcharts 11.2.0Jan​'25Dec​'24Nov​'24Oct​'24Sep​'24Aug​'24100150200250
Market Cap
$21.88B
PE (FWD)
9.14
Yield
-
Rev Growth (YoY)
-3.86%
Short Interest
2.52%
Prev. Close
$150.18
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