Why Biogen Stock Got Sick Today
Typically, when a publicly traded company reports an estimates-beating quarter, its stock price rises in reaction. There are always exceptions, though, and on Tuesday it was 's (NASDAQ: BIIB) turn to be atypical.
After Biogen published second-quarter figures that featured top- and bottom-line beats, the biotech's stock nevertheless took a hit. It sank by 2.4%; perhaps investors were concerned with the looming round of job cuts announced by the company.
There wasn't much to dislike in Biogen's quarterly earnings. It booked revenue of just under $2.46 billion, which -- although 5% beneath the result of the year-ago quarter -- handily beat the average prognosticator estimate of $2.37 billion.
Source Fool.com
Biogen Inc. Stock
€180.78
2.770%
The stock is one of the favorites of our community with 42 Buy predictions and 1 Sell predictions.
With a target price of 204 € there is a slightly positive potential of 12.84% for Biogen Inc. compared to the current price of 180.78 €.
