Biogen (NASDAQ:BIIB) Releases FY 2026 Earnings Guidance

Biogen (NASDAQ:BIIB) issued an update on its FY 2026 earnings guidance on Wednesday. The company provided earnings per share (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.

Biogen Stock Performance

Biogen stock traded down $3.04 during midday trading on Thursday, reaching $206.19. 307,757 shares of the stock traded hands, compared to its average volume of 1,290,189. Biogen has a fifty-two week low of $124.56 and a fifty-two week high of $219.72. The company has a current ratio of 3.06, a quick ratio of 2.41 and a debt-to-equity ratio of 0.34. The firm has a market cap of $30.44 billion, a price-to-earnings ratio of 22.11 and a beta of 0.16. The firm has a fifty day moving average price of $200.68 and a two-hundred day moving average price of $190.37.

Biogen (NASDAQ:BIIB) last announced its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 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 analysts’ expectations of $2.46 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, equities research analysts forecast that Biogen will post 11.28 earnings per share for the current year.

Analyst Ratings Changes

BIIB has been the topic of a number of recent analyst reports. Truist Financial raised Biogen from a “hold” rating to a “buy” rating and boosted their target price for the stock from $190.00 to $235.00 in a research report on Monday, July 13th. HC Wainwright reiterated a “buy” rating on shares of Biogen in a research report on Thursday. Bank of America dropped their price target on Biogen from $217.00 to $215.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 21st. Mizuho cut their price objective on Biogen from $236.00 to $221.00 and set an “outperform” rating on the stock in a report on Monday, June 15th. Finally, Sanford C. Bernstein reduced their price objective on shares of Biogen from $201.00 to $200.00 in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $222.54.

More Biogen News

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen reported second-quarter revenue of $2.74 billion, up 3.4% year over year and ahead of the $2.46 billion consensus estimate. Adjusted EPS of $3.60 also exceeded expectations, helped by a 24% increase in the Growth Portfolio and contributions from recently acquired Apellis products. Reuters report on Biogen earnings
• Positive Sentiment: Management raised its 2026 revenue outlook to mid-single-digit growth, while newer medicines—including rare-disease treatments and the Alzheimer’s drug Leqembi—are increasingly offsetting declines in legacy multiple sclerosis products. Analysts at Piper Sandler reaffirmed a Buy rating, and Needham maintained its $256 price target. Seeking Alpha report on Biogen outlook
• Neutral Sentiment: Wedbush raised its price target from $201 to $215 but retained a Neutral rating, indicating limited conviction despite a potentially higher valuation. Zacks also upgraded the stock from Strong Sell to Hold. Benzinga analyst update
• Negative Sentiment: GAAP net income plunged to $97.5 million from $634.8 million a year earlier, and diluted EPS fell to $0.66 from $4.33. The decline reflects acquisition-related and other costs, raising concerns that underlying profitability may be peaking even as revenue grows. Yahoo Finance analysis of Biogen profitability
• Negative Sentiment: Biogen’s 2026 adjusted EPS guidance of $12 to $13 is below the roughly $13.45 analyst consensus, and reports characterized the update as a reduction to the full-year profit outlook. Legacy MS sales remain under pressure, while Leqembi revenue narrowly missed expectations. Wall Street Journal report on Biogen guidance

Institutional Trading of Biogen

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

Biogen Company Profile

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.