Biotech company Biogen (NASDAQ:BIIB) will be announcing earnings results tomorrow morning. Here’s what to look for.

Biogen beat analysts’ revenue expectations by 1.2% last quarter, reporting revenues of $2.47 billion, down 2.5% year on year. It was a satisfactory quarter for the company, with a narrow beat of analysts’ full-year EPS guidance estimates.

Is Biogen a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Biogen’s revenue to grow 1% year on year to $2.41 billion, a reversal from the 6.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.36 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Biogen has missed Wall Street’s revenue estimates twice over the last two years.

Looking at Biogen’s peers in the therapeutics segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Vertex Pharmaceuticals delivered year-on-year revenue growth of 15.7%, beating analysts’ expectations by 4.9%, and AbbVie reported revenues up 5.6%, topping estimates by 1.9%. AbbVie traded up 8.3% following the results.

Read our full analysis of Vertex Pharmaceuticals’s results here and AbbVie’s results here.

Investors in the therapeutics segment have had steady hands going into earnings, with share prices flat over the last month. Biogen is down 5.1% during the same time and is heading into earnings with an average analyst price target of $222.48 (compared to the current share price of $142.62).

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