Biotechs’ Earnings Buoy Street Despite FX Headwinds

By | January 29, 2015

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Biogen Idec topped Q4 estimates and guided 2015 above expectations Thursday after fellow big-cap biotech Alexion Pharmaceuticals also beat but guided light. But both stocks rallied strongly. After the close, Biogen (BIIB) said that earnings minus one-time items rose 74% to $4.09 a share, the third straight quarter of accelerating year-over-year growth. It beat the analyst consensus by 31 cents, according to Thomson Reuters. Sales Scalper1 News

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