Biogen Higher After Mixed Q4 Report, Lower Guidance

Biogen Inc BIIB shares are trading higher by $9.50 (3.4 percent) at $282.74 in Thursday's session. Before the open, the company announced a Q4 EPS beat of $0.08 along with a slight revenue miss of $680 million

The company provided FY 2017 EPS guidance that surrounded the Street's estimate of $21.02 coming in the $20.45 to $21.25 range. However, project revenue fell well below the Street's estimate of $12.07 billion, coming in at the $11.1 billion to $11.4 billion range.

The Street is finding more positive than negatives in all this information and has the issue trading firmly in the green. After a higher open, it had a brief decline to $277.00 before resuming its move higher.

The ensuing rally has taken the issue to $285.78, but now has fallen back under $283.00. That high coincides with its January 18 high of $286.16.