Biogen (NASDAQ:BIIB) Updates FY 2026 Earnings Guidance

Biogen (NASDAQ:BIIB) updated its FY 2026 earnings guidance on Wednesday. The company provided EPS guidance of 12.000-13.000 for the period, compared to the consensus earnings per share estimate of 13.450. The company issued revenue guidance of -, compared to the consensus revenue estimate of $10.1 billion.

Analysts Set New Price Targets

BIIB has been the subject of a number of research reports. UBS Group increased their price objective on Biogen from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler reaffirmed an “overweight” rating on shares of Biogen in a research report on Tuesday, July 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Biogen in a report on Monday, June 22nd. Wall Street Zen upgraded shares of Biogen from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, The Goldman Sachs Group raised their target price on shares of Biogen from $231.00 to $238.00 and gave the company a “buy” rating in a research report on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $223.36.

Biogen Price Performance

NASDAQ:BIIB opened at $207.93 on Friday. The stock has a market capitalization of $30.70 billion, a PE ratio of 36.80 and a beta of 0.16. Biogen has a 1-year low of $124.56 and a 1-year high of $219.72. The firm has a fifty day simple moving average of $201.05 and a 200 day simple moving average of $190.52. The company has a current ratio of 1.87, a quick ratio of 2.41 and a debt-to-equity ratio of 0.39.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.66. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, research analysts expect that Biogen will post 12.38 EPS for the current fiscal year.

Key Headlines Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen exceeded second-quarter expectations, reporting adjusted earnings of $3.60 per share versus consensus of roughly $2.94-$3.04 and revenue of $2.74 billion, up 3.4% year over year and ahead of the $2.46 billion estimate. Biogen beats quarterly estimates as newer drugs fuel growth
• Positive Sentiment: The growth portfolio expanded 24%, with newer rare-disease products and the Apellis acquisition helping offset declines in legacy multiple-sclerosis medicines. Management raised its 2026 revenue outlook and maintained earnings guidance of $12-$13 per share, supporting the turnaround narrative. Biogen raises revenue outlook as growth portfolio drives Q2 beat
• Positive Sentiment: Analyst sentiment remains broadly constructive: TD Cowen raised its target to $225 and upgraded Biogen to Buy, while Morgan Stanley lifted its target to $231. Piper Sandler reaffirmed its Buy rating, and Needham maintained a $256 target. Biogen Buy rating reiterated on strong Q2 beat
• Neutral Sentiment: Leqembi sales continued to grow, but the Alzheimer’s drug narrowly missed expectations. Investors are also monitoring pipeline progress and the longer-term contribution from Apellis.
• Negative Sentiment: Reported profitability deteriorated sharply: net income fell to $97.5 million from $641 million a year earlier, while diluted EPS declined to $0.66 from $4.33. Acquisition-related research-and-development charges contributed to the compression, creating concern about near-term earnings quality. Biogen profitability after Q2 earnings
• Negative Sentiment: Some analysts remain cautious: Wedbush kept a Neutral rating despite raising its target to $215, Morgan Stanley retained Equal Weight, and Barclays’ $200 target sits below the current trading level. These views may be limiting further upside after the earnings rally.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. WFA of San Diego LLC acquired a new position in shares of Biogen in the second quarter valued at approximately $32,000. Strive Financial Group LLC acquired a new position in Biogen in the 4th quarter valued at $35,000. DV Equities LLC bought a new stake in shares of Biogen during the 4th quarter valued at $36,000. Meeder Asset Management Inc. grew its holdings in shares of Biogen by 323.5% during the 4th quarter. Meeder Asset Management Inc. now owns 216 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 165 shares in the last quarter. Finally, Summit Securities Group LLC grew its holdings in shares of Biogen by 346.9% during the 4th quarter. Summit Securities Group LLC now owns 219 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 170 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

About Biogen

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer’s disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company’s marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.