Why Biogen Stock Leaped Nearly 5% Higher Today

The company came out swinging with its first set of quarterly earnings for this year.Before market open on Wednesday, Biogen (BIIB 4.56%) unveiled its first earnings report of 2024. Happily, the company was far more profitable than many expected it to be, and investors rewarded this performance by trading the stock up by almost 5%. That compared quite favorably to the essentially flat performance of the S&P 500 index.A convincing first-quarter earnings beatIn its first quarter, Biogen took in $2.29 billion ...