Biogen raised its EPS outlook following the achievement of late-stage clinical trial milestones. The group of Phase 3 trials for key candidates includes lupus, transplantation and rare diseases.
In a recent announcement, Biogen raised its non-GAAP earnings per share (EPS) outlook. The revision was reportedly driven by the achievement of late-stage clinical trial milestones.
The company’s Phase 3 trials are focused primarily on lupus, transplantation and rare diseases. Depending on the data, these programs could help diversify its revenue mix.
An analysis report on the company projects revenue of $10.6 billion and earnings of $2.3 billion by 2029. Achieving these figures is expected to require annual revenue growth of approximately 2.3% and an increase from current earnings levels.
Fair value is estimated at $227.59, suggesting approximately 5% upside from the current share price.