Biogen's EPS has been slowing in recent quarters. The company reported gains of 41% in Q1 and 26% in Q2. The consensus for Q3 predicts a 10% gain.
Sales growth, meanwhile, has been improving from low levels. Since posting 6% higher revenue in last year's Q3, Biogen upped its sales 7% in Q4, 10% in Q1 and 21% in Q2. More would be better, but the acceleration is a positive.
In its Q2 report on July 25, Biogen upped its full-year EPS guidance to $8.25-$8.55, reflecting growth of 26% to 30%. The consensus is more optimistic, predicting $8.58, or a 31% gain.
Biogen that day also said sales of its new multiple sclerosis drug Tecfidera came to $192 million, vastly better than the $66 million most analysts had been expecting. That performance was the "holy mother of all launches," said ISI Group analyst Mark Schoenebaum.
Now analysts are talking about $3.5 billion in annual Tecfidera sales by 2017. To put that in perspective, analysts expect $6.8 billion in sales of all products combined this year.
No comments:
Post a Comment