Biogen discovers, develops and delivers to patients worldwide innovative therapies for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders. The company was founded in 1985 and is based in Cambridge, Massachusetts.
Biogen's (NASDAQ: BIIB) share price is mostly back to where it was when the company reported 2Q 2020 earnings a week ago. However, despite this, the company reported strong earnings with significant potential in major markets. The company's focus on new markets, along with the strength of its existing portfolio...
The Value Portfolio on Seeking Alpha | July 30, 2020
Health care, one of the largest and most complex sectors, is comprised of a broad range of companies that sell medical products and services. The health care sector includes companies that sell drugs, medical devices, and insurance, as well as hospitals and health care providers. Health care stocks, as represented by the Health Care Select Sector SPDR ETF (XLV), have outperformed the broader market, providing investors with a total return of 17.0% compared to the S&P 500's total return of 9.0% over the past 12 months. Several of these companies have received U.S. Emergency Use Authorization to develop either tests or treatments for COVID-19, sharply boosting their share price.
You can also gather a much clearer picture of the strength of a stock based on how it does or doesn't perform during a global recession. If you own shares of Biogen (NASDAQ: BIIB) or are thinking about purchasing this stock, you might be curious about what your investment would look like now if you'd bought in during the 2008 recession. If you had bought $1,000 worth of Biogen back then, how much would you have today?
Biogen (NASDAQ: BIIB) saw its stock jumped after the company released its second-quarter results on Thursday. The biotech beat analysts' earnings estimates for the fifth consecutive quarter with diluted earnings per share (EPS) based on generally accepted accounting principles (GAAP) increasing by 22% year over year. Biogen estimates that its GAAP diluted EPS will be between $32 and $34 rather than the prior estimated range of $29.50 to $31.50.