Emma Asma Cornwall
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Emma Asma Cornwall in Gainers & Losers,

Biogen is poised to gain further

Biogen shares slumped 2% in premarket trade Thursday after the biotechnology company missed first-quarter revenue expectations though it surpassed EPS expectations. 

Earnings for the latest quarter rose to $970.9 million, or $4.43 per share, from $822.5 million, or $3.49 per share, in the same period a year ago. Adjusted earnings-per-share was $4.79, compared with the FactSet consensus of $4.44. 

Revenue rose to $2.73 billion from $2.56 billion, missing the FactSet consensus of $2.74 billion. The company, which did not provide outlook for 2016, said it is expecting the release of phase 2 trial data for its multiple sclerosis drug in the coming months, and will begin phase 3 trials for early Alzheimer's disease this year. 

The stock was underperforming over the last three months, so probably quarter results will bring some gains...