NEW YORK (TheStreet) -- Biogen (BIIB) - Get Report stock is up by 7.96% to $280.56 in midday trading on Wednesday, after the bio-pharmaceutical company reported its 2015 fourth quarter earnings results.
Before the market open today, Biogen reported that earnings rose by 10% year-over-year to $4.50 per share, higher than analysts' estimates for earnings of $4.07 per share.
Revenue of $2.83 billion topped analysts' forecasts for revenue of $2.71 billion.
Additionally, the company projected full-year 2016 revenue between $11.1 billion and $11.3 billion.
Biogen's multiple sclerosis (MS) drug, TECFIDERA, saw "blockbuster" sales, The Street's Jim Cramer said in a new Action Alerts PLUS post on Wednesday morning. Biogen makes up about 4.25% of the charitable trust's portfolio.
"We are quite constructive on today's release as it solidifies the company's all-important multiple sclerosis franchise and sheds light on what we view as an underappreciated pipeline. The guidance, which we view as conservative, still brackets consensus and should set up the company well heading into a second half of this year with abundant catalysts," Cramer and Research Director Jack Mohr said.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "buy" with a ratings score of B. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel its strengths outweigh the fact that the company shows weak operating cash flow.
You can view the full analysis from the report here: BIIB