Biogen: Q2 Earnings, Share Price May Have Bottomed Out As CEO Makes Mark

Aug. 17, 2024 9:43 AM ETBiogen Inc. (BIIB) StockBIIB8 Comments
(17min)

Summary

  • Biogen's Q2 earnings show flat revenue growth but a 31% increase in non-GAAP EPS.
  • The focus is on Alzheimer's drug Leqembi as potential revenue driver, now it has secured full FDA approval and is generating positive longer-term clinical data.
  • Biogen's pipeline includes potential revenue contributors in Alzheimer's, Parkinson's, and kidney disease therapies, pain therapeutics and MS.
  • Biogen has many flaws as a company, but based on commonly used investment metrics its share price is significantly undervalued.

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Investment Overview

I last covered Biogen (NASDAQ:BIIB), the Cambridge, Massachusetts based pharmaceutical company, focused primarily on central nervous system diseases, for Seeking Alpha in April this year, shortly after the company announced its

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This article was written by

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Edmund Ingham is a biotech consultant. He has been covering biotech, healthcare, and pharma for over 5 years, and has put together detailed reports of over 1,000 companies. He leads the investing group Haggerston BioHealth.

The group is for both novice and experienced biotech investors. It provides catalysts to look out for and buy and sell ratings. It also provides product sales and forecasts for all the Big Pharmas, forecasting, integrated financial statements, discounted cash flow analysis and market by market analysis. Learn more.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, but may initiate a beneficial Long position through a purchase of the stock, or the purchase of call options or similar derivatives in BIIB over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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