Analysts Set Expectations for Biogen FY2026 Earnings

Key Points

• Rothschild & Co Redburn cut its FY2026 EPS estimate for Biogen to $15.98 (from $17.20) while maintaining a Neutral rating and a $180 price target, and Biogen's own FY2026 guidance is $15.25–$16.25 EPS versus a consensus of $15.76.
• Analyst views are mixed—14 Buy, 13 Hold and 1 Sell—giving a market consensus rating of Hold with a $211.81 average target; Biogen recently beat quarterly EPS ($1.99 vs. $1.61) but revenue fell 7.2% year‑over‑year and short interest has increased, underscoring near‑term uncertainty.

Biogen Inc. (NASDAQ:BIIB - Free Report) - Rothschild & Co Redburn reduced their FY2026 earnings per share (EPS) estimates for Biogen in a research note issued on Tuesday, April 21st. Rothschild & Co Redburn analyst S. Chesney now expects that the biotechnology company will earn $15.98 per share for the year, down from their previous estimate of $17.20. Rothschild & Co Redburn currently has a "Neutral" rating and a $180.00 target price on the stock. The consensus estimate for Biogen's current full-year earnings is $15.76 per share.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Friday, February 6th. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.61 by $0.38. Biogen had a return on equity of 12.64% and a net margin of 13.07%.The company had revenue of $2.28 billion during the quarter, compared to analysts' expectations of $2.21 billion. During the same quarter in the prior year, the business posted $3.44 earnings per share. The company's revenue for the quarter was down 7.2% compared to the same quarter last year. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS.

Other research analysts have also recently issued research reports about the company. Barclays initiated coverage on Biogen in a research note on Thursday, February 19th. They issued an "equal weight" rating and a $185.00 price target for the company. Canaccord Genuity Group increased their price target on Biogen from $230.00 to $245.00 and gave the stock a "buy" rating in a research note on Wednesday, April 1st. HSBC increased their price target on Biogen from $143.00 to $150.00 and gave the stock a "reduce" rating in a research note on Tuesday, March 17th. Wells Fargo & Company increased their price target on Biogen from $190.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Sunday, February 8th. Finally, Wolfe Research set a $231.00 price target on Biogen in a research note on Monday, February 9th. Fourteen analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Biogen has an average rating of "Hold" and a consensus target price of $211.81.

Biogen Stock Performance

NASDAQ:BIIB opened at $184.38 on Monday. Biogen has a 1 year low of $115.25 and a 1 year high of $202.41. The stock has a market cap of $27.06 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.46 and a beta of 0.16. The business has a fifty day moving average of $185.13 and a 200-day moving average of $175.36. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.03 and a current ratio of 2.68.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Keybank National Association OH lifted its holdings in shares of Biogen by 4.9% during the first quarter. Keybank National Association OH now owns 8,834 shares of the biotechnology company's stock valued at $1,620,000 after purchasing an additional 416 shares during the last quarter. Root Financial Partners LLC lifted its holdings in shares of Biogen by 84.3% during the first quarter. Root Financial Partners LLC now owns 341 shares of the biotechnology company's stock valued at $63,000 after purchasing an additional 156 shares during the last quarter. USS Investment Management Ltd lifted its holdings in shares of Biogen by 8.8% during the first quarter. USS Investment Management Ltd now owns 37,217 shares of the biotechnology company's stock valued at $6,822,000 after purchasing an additional 3,001 shares during the last quarter. Adams Diversified Equity Fund Inc. lifted its holdings in shares of Biogen by 126.4% during the first quarter. Adams Diversified Equity Fund Inc. now owns 100,300 shares of the biotechnology company's stock valued at $18,388,000 after purchasing an additional 56,000 shares during the last quarter. Finally, Econ Financial Services Corp lifted its holdings in shares of Biogen by 11.4% during the first quarter. Econ Financial Services Corp now owns 4,397 shares of the biotechnology company's stock valued at $806,000 after purchasing an additional 451 shares during the last quarter. Institutional investors own 87.93% of the company's stock.

Insiders Place Their Bets

In related news, insider Priya Singhal sold 2,660 shares of the firm's stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $199.83, for a total transaction of $531,547.80. Following the completion of the transaction, the insider owned 8,043 shares of the company's stock, valued at $1,607,232.69. This trade represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Key Biogen News

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen struck a China deal to develop felzartamab as a domestically produced anti‑CD38 therapy for multiple myeloma — this expands its China footprint and could open a meaningful growth market. Biogen seeks Darzalex rivalry in China for multiple myeloma with felzartamab deal
• Positive Sentiment: UBS upgraded Biogen, and JPMorgan raised its price target to $185 (still a Neutral rating) — these moves provide some analyst validation for the story but stop short of a full buy case. UBS upgrades Biogen (BIIB) JPMorgan raises price target
• Neutral Sentiment: Q1 earnings preview pieces highlight that new products (Skyclarys, Zurzuvae) are driving growth but legacy MS sales face competitive pressure — outcome of Q1 will be a key catalyst and remains uncertain. Biogen Q1 Earnings: Can New Launches Offset Declining MS Franchise?
• Neutral Sentiment: Rothschild & Co Redburn issued EPS estimates and raised its price target to $180 while maintaining a Neutral rating — adds supply of modeled forecasts but not a bullish call. Rothschild & Co Redburn estimates and target
• Negative Sentiment: Short interest rose to ~4.41M shares as of April 15 (+15.4% vs. March 31), representing about 3.0% of float and a short‑interest ratio ~3.1 days — higher shorting can amplify downward pressure around weak news. (Note: an April 24 data point showing zero shares appears to be a reporting anomaly.)
• Negative Sentiment: Wolfe Research trimmed Q1 and Q2 EPS estimates (and trimmed Q2 guidance), signaling risk to near‑term earnings expectations and likely contributing to negative trading sentiment.

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.

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