Earnings results often indicate what direction a company will take in the months ahead. With Q2 behind us, let’s have a look at Gilead Sciences (NASDAQ:GILD) and its peers.
A number of stocks jumped in the afternoon session after markets continued to rally amid growing speculation of an impending interest rate cut by the Federal Reserve. Following a favorable Consumer Price Index (CPI) report, investors are increasingly betting on a rate reduction next month, a sentiment amplified by U.S. Treasury Secretary Scott Bessent's call for a significant cut. This has fueled a 'risk-on' environment across Wall Street. Lower interest rates are typically beneficial for growth-oriented sectors like healthcare, as they reduce the cost of borrowing for research and innovation and increase the present value of future earnings.
Biogen CEO Chris Viehbacher says Novo Nordisk's Alzheimer's trial success could lead to combination therapies, boosting treatment options despite competition from Eli Lilly.
Curious about the top performers within the S&P500 index in the middle of the day on Wednesday? Dive into the list of today's session's top gainers and losers for a comprehensive overview.
Biotech company Biogen (NASDAQ:BIIB) beat Wall Street’s revenue expectations in Q2 CY2025, with sales up 7.3% year on year to $2.65 billion. Its non-GAAP profit of $5.47 per share was 41.3% above analysts’ consensus estimates.
Biotech company Biogen (NASDAQ:BIIB) beat Wall Street’s revenue expectations in Q2 CY2025, with sales up 7.3% year on year to $2.65 billion. Its non-GAAP profit of $5.47 per share was 41.3% above analysts’ consensus estimates.
While the Nasdaq 100 (^NDX) is filled with cutting-edge technology and consumer companies, not all are on solid footing.
Some are dealing with declining demand, high costs, or regulatory pressures that could limit future upside.
Shares of biotech company Biogen (NASDAQ:BIIB)
fell 3.1% in the morning session after analysts at Truist downgraded the stock, citing concerns over the company's growth prospects and high-risk pipeline. The brokerage lowered its rating on the drugmaker to "hold" from "buy" and significantly cut its price target to $142 from $199. Truist expressed a lack of optimism regarding Biogen's Alzheimer's drug opportunity, forecasting only modest growth for Leqembi. The downgrade also pointed to weak growth prospects for the company's existing products and noted that its late-stage pipeline is viewed as high-risk. Analysts at the firm believe sales for other key drugs, Zurzuvae and Skyclarys, have limited growth potential or have already peaked. The negative sentiment from the analyst action appeared to overshadow other company news, as Biogen separately announced a $2 billion investment to expand its manufacturing footprint in North Carolina.
Stay informed about the performance of the S&P500 index in the middle of the day on Monday. Uncover the top gainers and losers in today's session for valuable insights.
A number of healthcare stocks fell in the afternoon session after several negative developments weighed on the sector. Weakness in managed care providers was a significant factor, with companies like Elevance Health and Humana seeing declines due to an analyst downgrade and a lost lawsuit regarding Medicare bonus payments, respectively.
A stock with low volatility can be reassuring, but it doesn’t always mean strong long-term performance.
Investors who prioritize stability may miss out on higher-reward opportunities elsewhere.
The company anticipates a research expense in Q2 associated with milestone and licensing payments, which will impact both GAAP and non-GAAP earnings per share.
