(BIIB) Biogen Idec, Inc. – Aggressive Growth – Zacks Rank Buy

March 30th, 2009

Biogen Idec Inc. (BIIB) estimates are climbing as the company’s quarterly earnings announcement quickly approaches.

Estimates are Up

Biogen is set to announce first quarter results on Apr 15. Analysts have been raising estimates at a steady rate over the past 90 days.

Full-year estimates for 2009 are $4.06, up from $3.94 in that time span. The consensus for 2010 is now $4.27, up from $4.15. These projections, if met, represent 13% year-over-year growth for 2009 and another 5% in 2010.

Upcoming Surprise?

As part of the Zacks Rank, surprise history plays an important roll in a stock’s performance. Those companies that have reported earnings surprise in previous quarter are more likely to beat estimates again than companies who have not.

That being said, Biogen has out paced Wall Street estimates in each of the past 5 quarterly announcements.

The Chart

Shares of BIIB are surging headed into the April 15th announcement. Currently the stock is pressuring resistance at $54 per share, hopefully a solid earnings report could propel the stock through that level. Take a look at the chart below.

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