On October 24, 2017, Biogen (NASDAQ:BIIB) reported better than expected Q3 2017 results, thanks to a strong performance of Spinraza and an excellent Opex management.
Even if I like the R&D productivity of the company, I don't see any rush to jump in the name because I believe that the stock has already priced a successful scenario for the readout of the Phase III of Aducanumab, as I will demonstrate with my valuation tools.
Q3/2017 results
Biogen reported Q3 2017 sales of $3.08B, 1.5% ahead of consensus expectations, while Core EPS were $6.31, 11% above street numbers, thanks to a higher than expected Gross Margin and lower spending in R&D and SG&A.
FY 17 guidance has been reiterated, so I would not expect any significant changes of consensus numbers.
