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Is Biogen a Buy After It Boosted Guidance?

TheMotleyFool

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Is Biogen a Buy After It Boosted Guidance?: https://g.foolcdn.com/editorial/images/705809/scientists-looking-at-brain-scans.jpg

The good news keeps coming in for Biogen (NASDAQ: BIIB). On Tuesday, the drugmaker reported its third-quarter results, and for the first time in a while, investors found something in one of its earnings updates to cheer about.

Biogen beat Wall Street's expectations on both the top and bottom lines. The company also increased its 2022 revenue and earnings outlook. So is Biogen stock a buy now?

Let's first examine the good news in Biogen's Q3 results. Yes, revenue of nearly $2.51 billion was better than the consensus estimate of $2.47 billion. The company's adjusted earnings of $4.77 per share also blew the average estimate of $4.14 per share out of the water.

Source Fool.com

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