Biotechnology firm Biogen Inc (NASDAQ:BIIB) is scheduled to report third-quarter results before the open on Wednesday, Oct. 30. Ahead of the event, it was announced that Biogen's Executive V.P. and Chief Financial Officer Michael McDonnel will retire in February and be replaced by Robin Kramer. At last glance, BIIB was up 2% at $185.36. BIIB has a fairly dismal post-earnings history, as it's closed lower the day after earnings in seven of the last eight quarters. Shares averaged a 5.5% move the day after ea ...

Core Insights - The Phase 2 IGNAZ study results confirm the efficacy of felzartamab in treating IgA nephropathy, showing significant reductions in proteinuria and stabilization of kidney function over 18 months post-treatment [1][2][3] Company Overview - Biogen Inc. is a leading biotechnology company focused on innovative science to develop new medicines, with a commitment to transforming patients' lives and creating shareholder value [4] Product Development - Felzartamab is an investigational anti-CD38 monoclonal antibody, potentially the first-in-class treatment for various immune-mediated diseases, currently in planning for Phase 3 development [1][3] - The drug has shown a mean reduction of approximately 50% in urinary protein:creatinine ratio (UPCR) through 24 months, indicating its potential to preserve kidney function [2][3] Clinical Study Details - The IGNAZ study involved 54 patients with IgA nephropathy at high risk of progressive kidney dysfunction, demonstrating a nine-dose regimen over six months [2] - Results indicated that patients maintained significant reductions in proteinuria levels and stabilization of kidney function, as measured by estimated glomerular filtration rate (eGFR) [2][3] Safety and Tolerability - Felzartamab was generally well tolerated, with a safety profile consistent with previous studies, and it resulted in selective and durable reductions in IgA antibody levels [3][4]

We expect Biogen (BIIB) to beat expectations when it reports third-quarter 2024 results on Oct. 30, before market open. In the last reported quarter, the company beat earnings expectations by 32.0%.The Zacks Consensus Estimate for sales and earnings is pegged at $2.44 billion and $3.80 per share, respectively.Factors to Consider for BiogenIn the third quarter, lower sales of multiple sclerosis (“MS”) drugs and spinal muscular atrophy drug, Spinraza, are likely to have been partially offset by revenues from ...

CAMBRIDGE, Mass., Oct. 24, 2024 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) announced upcoming data presentations and programming at the Clinical Trials on Alzheimer’s Disease (CTAD) annual conference, taking place October 29 - November 1, in Madrid, Spain. The presentations will include updates on new scientific findings from Biogen’s Alzheimer’s portfolio, highlighting data on different aspects of treatment and data examining preclinical Alzheimer’s disease and race. “These data showcase the breadth of ...

Biogen Inc. (BIIB) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on October 3 ...

The earnings season for the drug and biotech sector kicked off last week when bellwether Johnson & Johnson reported strong third-quarter results, beating estimates for earnings and sales. J&J consequently raised its total revenue expectation for the year as it expects an improved performance in the rest of the year. However, the company lowered its adjusted earnings expectation due to the recent acquisition costs incurred.Per the Zacks classification, the pharma/biotech industry comes under the broader Medi ...

Late breaker oral presentation to feature final results of the Phase 2 IGNAZ study of felzartamab for IgA nephropathyAdditional oral presentation to examine the impact of felzartamab on key disease-relevant biomarkersFelzartamab, an investigational anti-CD38 monoclonal antibody, is a potential first-in-class therapeutic candidate for a range of rare immune-mediated indications with planning underway for Phase 3 development CAMBRIDGE, Mass., Oct. 22, 2024 (GLOBE NEWSWIRE) -- Biogen Inc. (Nasdaq: BIIB) – anno ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Biogen Inc. (BIIB) . This company, which is in the Zacks Medical - Biomedical and Genetics industry, shows potential for another earnings beat.This company has seen a nice streak of beating earnings estimates, especially when looking at the previous two reports. The average surprise for the last two quarters was 19.19%.For the ...

Group 1: Market Overview - The stock market has shown impressive performance in 2024, with the SPDR S&P 500 ETF (NYSE: SPY) up over 21% year-to-date and trading at all-time highs [1] - Investors are chasing high-flying stocks, but this approach carries risks as stocks at all-time highs may face corrections [1] - Focusing on oversold stocks with solid risk-to-reward ratios may be a more rewarding strategy [1] Group 2: Micron Technology - Micron Technology, Inc. (NASDAQ: MU) reported strong earnings on September 25th, with an EPS of $1.18, beating estimates by $0.21, and revenue of $7.75 billion, up 93.3% year-over-year [2][4] - Despite a pullback from a high of $114.8 to $101.7, the stock has found support and is poised for an upward trend, presenting an attractive risk-reward opportunity [2][4] - Analysts have a Moderate Buy consensus on Micron, with a price target of $142.85 indicating a potential upside of 40.5% [3][4] Group 3: Biogen Inc. - Biogen Inc. (NASDAQ: BIIB) has seen its stock decline nearly 30% year-to-date, placing it in oversold and undervalued territory, with an RSI of 36 [5][6] - The stock's P/E ratio of 23.4 and forward P/E of 10.82 suggest a valuation that could attract long-term investors [5] - Biogen reported Q2 results with an EPS of $5.28, beating expectations by $1.28, on revenue of $2.47 billion, with a modest year-over-year growth of 0.4% [5][6] Group 4: Regeneron Pharmaceuticals - Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) has pulled back to a critical support level at its 200-day simple moving average (SMA) near $1,000 [7] - The stock's last encounter with this moving average saw it surge from $900 to nearly $1,200 within four months [7] - Regeneron reported Q2 earnings with an EPS of $11.56, surpassing estimates by $2.63, and revenue of $3.55 billion, a 12.3% year-over-year increase [8][9]

Designation is based on data from the clinical development program which demonstrated clinical proof of conceptFelzartamab, an investigational anti-CD38 monoclonal antibody, is a potential first-in-class therapeutic candidate for a range of rare immune-mediated indications with planning underway for Phase 3 developmentFDA Breakthrough Therapy Designation is intended to expedite the development and review of drugs for serious or life-threatening conditions and which have potential to show substantial improve ...