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Biogen (BIIB) Stock Soars on Q2 Earnings, Revenue Beat

NEW YORK (TheStreet) -- Shares of Biogen (BIIB) are climbing 6.17% to $278.60 in pre-market trade after the company reported 2016 second quarter earnings that blew past estimates.

Biogen reported non-GAAP earnings per share of $5.21, surpassing analysts' estimates of $4.67 per share.

The Cambridge, MA-based biopharmaceutical company reported revenue of $2.9 billion for the quarter, also topping Wall Street's estimates of $2.79 billion.

Biogen's revenue growth was largely driven by increases in global revenue from the company's multiple sclerosis and hemophilia businesses, according to a company statement.

"We are excited about our science...