Earnings Preview: Biogen Idec Inc. (NASDAQ:BIIB)
Tuesday, February 02, 2022 1:42 PM

Related Stories



(By Nitika) Biogen Idec Inc., Massachusetts' largest biotech, is scheduled to report December 2009 quarter (Q4 2009 & Full Year 2009) results on Tuesday, February 9, 2010. In the last four quarters ending September 2009, the company's earnings bettered analysts' estimates comfortably.

 

Biogen Idec is a biopharmaceutical company engaged in the process of discovering, developing, manufacturing, and commercializing the therapies in the areas of oncology, neurology and immunology. The company's key products include TYSABRI (natalizumab), AVONEX (Interferon beta-1a), and RITUXAN (rituximab). The company primarily operates in the US and Europe. The company operates in one reportable segment. It has four marketing products: Avonex (interferon beta-1a), Rituxan (rituximab), Tysabri (natalizumab) and Fumaderm (dimethylfumarate and monoethylfumarate salts).

 

In the previous quarter, the company reported EPS of $0.95 on revenue of $1,120 million compared to EPS of $0.71 on revenue of $1,092 million in the same quarter previous year. The increase in revenue and earnings is attributable to AVONEX performance in the international markets where it continued to gain market share. However, AVONEX performance in the US is disappointing with market share losses. In addition to AVONEX, the company's strong performance is also attributable to increasing TYSABRI (a promising new drug to treat relapsing multiple sclerosis) global end market net sales performance. However, the company has acknowledged 28 cases of Tysabri patients contracting a rare brain infection known as progressive multifocal leukoencephalopathy, or PML, with disclosure of the latest four cases coming last month.

 

Analysts' estimates for the quarter ending December 2009 range from a low of $0.96 to a high of $1.1, compared to a consensus estimate of $1.048. The consensus EPS forecast has decreased over the past week from $1.050 to $1.048 (-0.19%) and decreased over the past month from $1.057 to $1.048 (-0.85%). Of the 20 analysts making quarterly forecasts, 1 raised and 4 lowered their forecast. Consequently, for the fiscal year ending December 2009, the consensus EPS forecast has decreased over the past week from $3.975 to $3.945 (-0.75%) and decreased over the past month from $3.986 to $3.945 (-1.03%). Of the 20 analysts making yearly forecasts, 1 raised and 3 lowered their forecast. .

Since 2001, the company's revenues and earnings show both sequential quarter and same quarter previous year increases. BIIB is a relatively small and fast growing company and can sustain high growth for some more considerable time.

 

In December, the company increased its offer to purchase all of the outstanding shares of Facet Biotech Corporation (NASDAQ: FACT) to $17.50 per share in cash, representing an increase of $3.00 per share, or 21%, over its previous offer. Biogen described this as the best and final offer. But the offer was rejected. It is time for Biogen to either acquire a similar company or be split into two.

 

The stock closed Monday at $53.91, compared to the 52 week range of $41.75 and $55.37. In the last one year the share price has gained more than 10.8%. The stock is trading at a reasonable PE of 18.03 which is likely to go down to 14 by end 2010. The company's earnings may not support a price in excess of $52 in the next two quarters.

 

Sponsors

Symbol :

Advertisement

Market news:

  • US shoppers crowd malls all night long Nov 26, 2021 07:09 AM

    • Bargain shoppers, braving rain or frigid weather, crowded the nation's stores and malls in the wee hours of the night to get their hands on deals from TVs to toys on Black Friday.
    • In a bid to grab shoppers earlier on the traditional start to the holiday shopping season, a number of stores including Old Navy, Toys R Us and Sears opened on Thursday's Thanksgiving holiday.
    • Patricia Lopez, 32, a receptionist from Queens, N.Y., was in line at Toys R Us in New York's Times Square Thursday night.
      • NKorea warns region is on brink of war Nov 26, 2021 06:53 AM

        • YEONPYEONG ISLAND, South Korea - North Korea warned Friday that U.S.-South Korean plans for military maneuvers put the peninsula on the brink of war, and appeared to launch its own artillery drills within sight of an island it showered with a deadly barrage this week.
        • The fresh artillery blasts were especially defiant because they came as the U.S. commander in South Korea, Gen. Walter Sharp, toured the South Korean island to survey damage from Tuesday's hail of North Korean artillery fire that killed four people.
        • None of the latest rounds hit the South's territory, and U.S. military officials said Sharp did not even hear the concussions, though residents on other parts of the island panicked and ran back to the air raid shelters where they huddled earlier in the week as white smoke rose from North Korean territory.
          • Teenagers adrift in Pacific for 50 days reach land Nov 26, 2021 06:26 AM

            • SUVA, Fiji - Three teenage boys who spent 50 days adrift in a tiny boat in the South Pacific walked ashore on shaky legs Friday after their chance rescue - celebrated on their home island hundreds of miles (kilometers) away as a miracle that brought them back from the dead.
            • The trio - Samuel Pelesa and Filo Filo, both 15, and Edward Nasau, 14 - told rescuers they survived on rainwater they collected, a handful of coconuts, raw fish and a seagull that landed on their 12-foot- (3.5-meter-) long aluminum boat.
            • The boys set off Oct. 5 from their home island to one nearby.
              • Roll Tide! War Eagle! Alabama-Auburn stands apart Nov 26, 2021 05:57 AM

                • TUSCALOOSA, Ala. - They start early in this part of the country.
                • "You got to declare when you're a youngster," said Gene Stallings, the former Alabama coach.
                • "I'm prejudiced," said Pat Dye, who coached at Auburn for a dozen years, "but I don't think there's any other game in the country that's talked about on a daily basis as much as this one is by the folks in the state of Alabama."
                  • Black Friday shoppers crowd malls all night long Nov 26, 2021 05:55 AM

                    • After weeks of "Black Friday" sales pitches, the real thing is finally here.
                    • Many stores had trotted out the "Black Friday" label on sales as far back as October.
                    • In a bid to grab shoppers earlier, a number of stores including Old Navy, Toys R Us and Sears opened on Thanksgiving Day.

                      More news


Advertisement

    Recent Estimates

AnalystFirm NameSymbolEPS Estimate
GEOXXXXX PAY$0.31
mrbilltraderXXXXX POT$1.15
XXXXXXXXXX OVTI$0.43
sam farahanXXXXX TECD$0.95
XXXXXXXXXX GSS$0.05
XXXXXXXXXX ABB$0.31
adfgafg ERTS($0.26)
XXXXXXXXXX SD$0.03
XXXXXXXXXX ATML$0.11
XXXXXXXXXX CBPO$0.32