Biogen Idec Earnings Preview

Published on Monday, 30 January 2012 11:20 Written by Christopher Lynn

New York, January 30th (TradersHuddle.com) - Shares of Biogen Idec Inc. (NASDAQ:BIIB) are trading lower by -1.94% ahead of its quarterly earnings release. Biogen Idec, the Cambridge, Massachusetts based biotechnology company focusing on neurology, oncology, and immunology is expected to release its quarterly results on January 31^st.

Wall Street Analysts consensus calls for a profit of $1.49 a share on $1.29 billion revenue.

Biogen Idec estimates have a range of $0.34 a share. The high estimate calls for profit of $1.69 a share and the low estimate is calling for a profit of $1.35 a share, a year ago for the quarter the company reported $1.42 a share.

Biogen Idec Inc. (NASDAQ:BIIB) develops, manufactures, and commercializes therapies, focusing on neurology, oncology, and immunology. The products from the biotechnology company addresses diseases such as multiple sclerosis, non-Hodgkin's lymphoma, rheumatoid arthritis, crohn's disease, and psoriasis. The company was founded in 1985 and is based in

Other companies on the watch on this earnings event are GlaxoSmithKline plc NYSE:GSK and Amgen Inc. NASDAQ:AMGN.