Biogen Inc. stock skyrocketed on Tuesday by more than 35% after the company announced a positive report for the third quarter. Earnings per share of the American company jumped by 17% to $8.39 in the last reported quarter, while its revenue stood at $3.6 billion rising by 5% year-on-year.

This performance was mainly driven by the company's core business and growth from SPINRAZA and biosimilars.

At 7:47 am ET stock came to its 7 month-high gaining 37.22% and selling for $305.57.