Biogen (NASDAQ:BIIB) Issues Quarterly Earnings Results

Biogen (NASDAQ:BIIB - Get Free Report) announced its quarterly earnings results on Wednesday. The biotechnology company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.62, FiscalAI reports. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.29 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the firm earned $3.02 EPS. Biogen updated its FY 2026 guidance to 14.250-15.250 EPS.

Here are the key takeaways from Biogen's conference call:

• Strong Q1 results: Total revenue was $2.5B (+2% YoY) with GAAP diluted EPS of $2.15 (+31% YoY), non‑GAAP EPS of $3.57 (+18% YoY), and $594M free cash flow, ending the quarter with $4.7B cash and $1.5B net debt.
• Apellis acquisition to expand growth portfolio: The pending deal (expected close Q2) brings two marketed medicines, Syfovre and Empaveli, which management says will materially bolster Biogen’s top‑line and be accretive to non‑GAAP EPS in 2027.
• Near‑term financial/headwinds from deals and charges: Management expects acquired IPR&D charges (≈$34M in Q1 and ≈$145M in Q2, ~$0.80 EPS impact) plus funding the Apellis purchase with $3.6B cash and $2B borrowings and an estimated ~$120–130M impact to non‑GAAP other income in 2026.
• Multiple near‑term pipeline catalysts: Key readouts and milestones include a mid‑year BIIB080 (tau ASO) proof‑of‑concept, the May 24 PDUFA for subQ Leqembi initiation, phase III readouts for litifilimab (SLE/CLE) and felzartamab (AMR), plus STELLAR‑1 dosing for salanersen.
• SMA and rare disease momentum: Spinraza High Dose approvals in the U.S., Japan and Europe have early conversion signals (e.g., ~20% in Germany) and, together with the salanersen program, strengthen Biogen’s SMA franchise and future commercial optionality.

Biogen Price Performance

BIIB stock opened at $187.06 on Monday. 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 50-day moving average of $184.52 and a two-hundred day moving average of $176.50. Biogen has a 12 month low of $115.25 and a 12 month high of $202.41. The company has a market cap of $27.62 billion, a price-to-earnings ratio of 20.07, a PEG ratio of 1.53 and a beta of 0.19.

Insider Activity

In related news, insider Priya Singhal sold 2,660 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $199.83, for a total value of $531,547.80. Following the completion of the sale, the insider owned 8,043 shares of the company's stock, valued at approximately $1,607,232.69. This trade represents a 24.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is owned by company insiders.

Hedge Funds Weigh In On Biogen

Institutional investors and hedge funds have recently bought and sold shares of the company. Sivia Capital Partners LLC acquired a new position in shares of Biogen during the 2nd quarter worth $216,000. McMillan Office Inc. purchased a new position in Biogen during the 4th quarter valued at about $202,000. CIBC Private Wealth Group LLC raised its position in Biogen by 8.1% during the third quarter. CIBC Private Wealth Group LLC now owns 1,189 shares of the biotechnology company's stock worth $167,000 after acquiring an additional 89 shares during the last quarter. Zions Bancorporation National Association UT lifted its holdings in shares of Biogen by 21.7% in the fourth quarter. Zions Bancorporation National Association UT now owns 622 shares of the biotechnology company's stock valued at $109,000 after purchasing an additional 111 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Biogen by 23.4% in the third quarter. Larson Financial Group LLC now owns 638 shares of the biotechnology company's stock valued at $89,000 after purchasing an additional 121 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BIIB. Wolfe Research set a $231.00 price target on Biogen in a research report on Monday, February 9th. Tudor Pickering set a $201.00 price target on shares of Biogen in a research note on Monday, February 9th. TD Cowen increased their price objective on shares of Biogen from $175.00 to $215.00 and gave the company a "buy" rating in a report on Monday, February 9th. Wells Fargo & Company boosted their target price on shares of Biogen from $190.00 to $200.00 and gave the stock an "equal weight" rating in a research note on Sunday, February 8th. Finally, Oppenheimer lifted their price objective on Biogen from $250.00 to $275.00 and gave the stock an "outperform" rating in a report on Wednesday, April 1st. Thirteen analysts have rated the stock with a Buy rating, thirteen have issued 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 "Hold" and an average price target of $214.23.

Key Stories Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Q1 beat driven by growth from newer drugs (Leqembi, Skyclarys) and upbeat revenue/profit metrics that underpin optimism about Biogen’s growth portfolio. Bristol Myers’ legacy lift, Biogen’s blue skies and Regeneron’s murky outlook
• Positive Sentiment: RBC raised its price target to $222 and maintained an Outperform rating, signaling strong analyst conviction and upside potential for BIIB. RBC raises PT to $222
• Positive Sentiment: H.C. Wainwright reiterated a Buy and lifted its PT to $237, citing reduced risk on BIIB080 (Alzheimer’s) — a bullish signal for upside from pipeline progress. H.C. Wainwright reiterates Buy, PT $237
• Positive Sentiment: TD Cowen initiated / affirmed a Buy with a $215 price target, citing strong Q1, pipeline progress and the Apellis deal as supportive factors. TD Cowen Buy, PT $215
• Positive Sentiment: Rothschild & Co Redburn nudged its PT up to $190 (small upside), reflecting modestly improved near-term views. Rothschild raises PT to $190
• Neutral Sentiment: BMO kept a Market Perform/Hold rating with an unchanged $196 target, signaling that some analysts see constrained near-term growth despite the beat. BMO maintains Hold, PT $196
• Neutral Sentiment: Several analyst notes and commentary highlight mixed takeaways: firms generally raised forecasts after the Q1 beat but some also trimmed FY2026 EPS expectations, producing varied buy/hold calls. Analysts boost forecasts after Q1
• Negative Sentiment: Biogen disclosed the Apellis transaction will create a ~$120M–$130M other‑income headwind in 2026 (non‑GAAP EPS accretion expected in 2027), creating a near‑term earnings drag that pressured sentiment. Apellis deal impact
• Negative Sentiment: Sanford C. Bernstein trimmed its PT slightly from $201 to $200 — a modest negative signal that may contribute to profit-taking amid mixed analyst reactions. Bernstein trims PT to $200

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.