Biogen Gains After Q1 Beat

Biogen Inc BIIB shares are trading higher by $13.14 at $290.00 in Tuesday's session. The catalyst for the rally is a Q1 beat of $0.20 along with a slight revenue beat.

After a higher open, it had nearly a $3.00 decline to $287.05, before continuing its move higher. So far, the ensuing rally has taken the issue to $291.90 but has now retreated to the $290.00 area. That high is just shy of its March 15 close of $292.64. The significance of that level is the issue fell over $13.00 the following day to $278.96 when the issue was slapped with two downgrades on the same day (Morgan Stanley and Leerink Swann).

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsDowngradesTechnicalsIntraday UpdateAnalyst RatingsMoversTrading IdeasLeerinkMorgan Stanley
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!