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BIIB - Biogen Inc News Story

$281.01 0.6  0.2%

Last Trade - 18/05/21

Sector
Healthcare
Size
Large Cap
Market Cap £29.87bn
Enterprise Value £33.20bn
Revenue £8.92bn
Position in Universe 304th / 6846

BUZZ-Expect solid Q1 performance across large-cap biotech cos - Cantor

Fri 16th April, 2021 11:45am
** Brokerage Cantor Fitzgerald sees solid Q1 results across
large-cap biotech cos despite COVID-19
    ** Expects Amgen Inc  AMGN.O  Q1 revenue to slightly beat
estimates and profit to be in-line with FactSet's  FDS.N 
consensus expectations; projects Q1 rev. of $6.39 bln vs FDS
consensus of $6.28 bln
    ** Cantor expects Biogen Inc  BIIB.O  to report revenue
in-line with consensus estimates and miss on profit due to
continued erosion of Tecfidera and Spinraza drug sales and lower
gross margins
    ** Brokerage lowers PT on BIIB to $249 from $268 due to its
comments from Q4 about loss of sales from high-margin products
    ** Whether BIIB's Alzheimer's drug candidate, aducanumab, is
approved or not remains the main focus for the co - Cantor
    ** Bumps up PT on Gilead Sciences  GILD.O  to $89 from $86
as it expects co to beat Q1 profit and revenue estimates, driven
by continued strong sales of Veklury as COVID-19 cases remained
high in Q1
    ** Regeneron Pharmaceuticals  REGN.O  to beat FactSet profit
and revenue estimates, helped by continued growth of Dupixent
and sales of its COVID-19 antibody cocktail - brokerage
    ** Cantor expects Vertex Pharmaceuticals  VRTX.O  to report 
results in-line with estimates

 (Reporting by Trisha Roy in Bengaluru)
 ((Trisha.Roy@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 80 6182 3635;))
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