Cambridge, MA-based Biogen (BIIB), one of the world’s leading biotechnology companies, focuses on therapeutic areas including neurology, immunology and hemophilia. However, the company is best known for its multiple sclerosis (MS) franchise comprising treatments like Avonex, Tysabri, Tecfidera and Plegridy.

Biogen also has a presence in the hemophilia market with two marketed products in its portfolio – Alprolix and Eloctate. The MS franchise remains the main contributor to the top line and Biogen is working on consolidating its position in the MS market.

With Biogen reporting a moderation in new starts for Tecfidera in the fourth quarter of 2014, investor focus will remain on scrip growth of this oral MS treatment in the coming quarters. Tecfidera’s U.S. label was updated in Dec 2014 following the reporting of a progressive multifocal leukoencephalopathy (PML)-related death of a patient on Tecfidera. The continued ramp up of Plegridy will also be in focus.

BIIB has a pretty good earnings track record with the company delivering positive earnings surprises in each of the last three quarters with an average surprise of 11.6% in the last four quarters. Estimate revisions are mostly positive with analysts upping their estimates for 2015.

Currently, BIIB has a Zacks Rank #1 (Strong Buy), but that could definitely change following the company’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings Miss by a Wide Margin: BIIB missed on first quarter 2015 earnings by 9 cents. The company reported EPS of $3.82 while our consensus called for EPS of $3.91.

Revenues Miss: Biogen posted adjusted revenues of $2.555 billion, missing the consensus estimate of $2.656 billion.

Key Stats: While Tecfidera revenues increased from the year-ago period, they declined on a sequential basis in the first quarter of 2015.

Stock Price: Shares were down 3.11% in pre-market trading following the release.

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