Biogen (NASDAQ:BIIB) Updates FY 2026 Earnings Guidance

Posted by Brenda Bartman on Jul 29th, 2026

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

Analyst Ratings Changes

BIIB has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Biogen in a research report on Monday, June 22nd. Argus raised shares of Biogen to a “hold” rating in a research note on Thursday, April 9th. Guggenheim boosted their price target on shares of Biogen from $260.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Morgan Stanley lowered their price target on shares of Biogen from $224.00 to $222.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 8th. Finally, Oppenheimer upped their price target on shares of Biogen from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $220.57.

Check Out Our Latest Stock Analysis on Biogen

Biogen Trading Up 2.7%

NASDAQ:BIIB opened at $205.61 on Wednesday. The company has a market capitalization of $30.36 billion, a P/E ratio of 22.06 and a beta of 0.16. The stock’s 50 day moving average price is $200.25 and its 200 day moving average price is $190.21. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.41 and a current ratio of 3.06. Biogen has a 52 week low of $124.56 and a 52 week high of $219.72.

Biogen (NASDAQ:BIIB – Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.66. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. On average, research analysts forecast that Biogen will post 11.28 EPS for the current fiscal year.

Biogen News Roundup

Here are the key news stories impacting Biogen this week:

Positive Sentiment: Biogen reported second-quarter revenue of approximately $2.74 billion, up 3% year over year and ahead of the $2.46 billion analyst consensus. Adjusted EPS of $3.60 also exceeded expectations of $2.94. Biogen beats quarterly estimates as newer drugs fuel growth
Positive Sentiment: The Growth Portfolio generated $1.06 billion in revenue, up 24% year over year and surpassing the legacy multiple-sclerosis portfolio. Key contributions included SKYCLARYS revenue of $168 million, ZURZUVAE revenue of $71 million, and post-acquisition sales from Apellis products SYFOVRE and EMPAVELI. Biogen Raises Earnings Guidance as Growth Portfolio Outpaces Legacy Blockbuster Drugs
Positive Sentiment: Biogen expects 2026 revenue to increase by a mid-single-digit percentage, suggesting continued momentum from newer rare-disease and specialty medicines as older multiple-sclerosis products decline.
Neutral Sentiment: The company completed its acquisition of Apellis, adding SYFOVRE and EMPAVELI to its commercial portfolio. The deal expands Biogen’s growth prospects but also introduces integration and execution risks.
Negative Sentiment: GAAP net income fell to $97.5 million from $634.8 million a year earlier, while GAAP diluted EPS was $0.66. The decline highlights the impact of costs and other charges despite the adjusted earnings beat.
Negative Sentiment: Biogen set full-year 2026 adjusted EPS guidance at $12.00-$13.00, below the $13.45 analyst consensus. The lower outlook is the main potential pressure on BIIB, even though quarterly results exceeded estimates. Biogen Cuts FY Adjusted View as Profit Declines

Institutional Trading of Biogen

A number of hedge funds have recently bought and sold shares of the stock. Empowered Funds LLC boosted its position in shares of Biogen by 64.9% during the 1st quarter. Empowered Funds LLC now owns 7,054 shares of the biotechnology company’s stock valued at $965,000 after acquiring an additional 2,777 shares in the last quarter. Focus Partners Wealth raised its position in Biogen by 172.2% in the first quarter. Focus Partners Wealth now owns 10,173 shares of the biotechnology company’s stock worth $1,392,000 after purchasing an additional 6,436 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Biogen in the second quarter worth about $216,000. Cerity Partners LLC lifted its stake in Biogen by 15.3% during the second quarter. Cerity Partners LLC now owns 46,552 shares of the biotechnology company’s stock worth $5,847,000 after purchasing an additional 6,184 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in Biogen by 13.4% during the second quarter. NewEdge Advisors LLC now owns 2,673 shares of the biotechnology company’s stock worth $336,000 after purchasing an additional 316 shares during the period. 87.93% of the stock is owned by institutional investors.

Biogen Company Profile

(Get Free Report)

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.