Biogen Inc. (BIIB) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
One could write a book (or two) about everything that's happened to Biogen (NASDAQ: BIIB) in the past three years. The company's controversial approval of Alzheimer's disease (AD) medicine Aduhelm makes for a fascinating story, as does the fallout from this approval and the fact that Aduhelm is nowhere close to living up to its lofty potential on the market. With the issues surrounding Aduhelm and Biogen's loss of exclusivity for multiple sclerosis medicine Tecfidera -- which was one of its top-selling products -- the biotech isn't doing too well.
Ionis (IONS) incurs a wider-than-expected loss in Q2. Its sales also miss estimates. Stock moves down in response to the results.