Biogen Idec Inc.
BIIB is a buy @ $47.50
About: Biogen Idec Inc. is engaged in the development, manufacturing, and commercialization of therapies. The Company’s products address diseases such as multiple sclerosis, non-Hodgkin’s lymphoma (NHL), rheumatoid arthritis (RA), crohn’s disease (CD) and psoriasis. The Company has four products: AVONEX (interferon beta-1a), RITUXAN (rituximab), TYSABRI (natalizumab) and FUMADERM (dimethylfumarate and monoethylfumarate salts).
News Headlines:
Biogen Tops Q1 Earnings, Reaffirms Guidance
Biogen Idec (NASDAQ:BIIB) reported Q1 EPS of $1.05, ex-items, better than the $1.00 a share analysts had expected. Revenue rose 10% year-over-year to $1.04 billion, which was below consensus estimates of $1.08 billion. The company reported recognized sales of Tysabri of $165 million, up 44% but below analyst estimates of $188 million. Rituxan sales were $279 million and Avonex sales rose 4% to $555 million. Biogen reaffirmed its full year 2009 forecast, sees revenue growth in the high single digits and sees EPS above $4.00, vs. consensus EPS estimates of $4.05. “Revenue growth from all three of our marketed products and continued advancement of our robust pipeline during the quarter were in line with our expectations,” said James C. Mullen, Biogen Idec’s President and CEO.
Biogen Idec 1Q Rises 50 Percent
Biotechnology company Biogen Idec Inc. said Thursday its first-quarter profit rose 50 percent, boosted by higher sales of the multiple sclerosis drug Avonex. The company earned $244 million, or 84 cents per share, compared with a profit of $163.1 million, or 54 cents per share, during the same period a year ago. Revenue rose 10 percent to $1.04 billion from $942.2 million.
Biogen’s stock rises on takeover chatter
“Biogen Idec is recently up … on renewed takeover chatter,” said Paul Foster, options strategist at theflyonthewall.com.
Traders in Europe said there were market rumors that Sanofi-Aventis SA (SASY.PA) could bid at least $75 a share for Biogen. Sanofi could not be immediately reached for comment.
Chart Analysis:
Flash Player 9 or higher is required to view the chart Click here to download Flash Player nowAlot of good news and speculation surrounding this stock, and it also seems like it has bottomed out. I expect a rise of around 10-15% on any new PR to be released.
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About Michael: A young and savvy, yet experienced and accomplished investments mogul since ‘01; Michael has amassed a fortune as a private self investor. Recently starting his own successful blog and turning it in to a corporation — MIV Investments Inc., a company offering advice to thousands of people worldwide and attracting contracts from various reputable sources. His articles and publications have been linked to Forbes, CNN Money, Reuters, Bloomberg, and many other top worldwide mainstream media sources. |
