Rothschild & Co Redburn Predicts Reduced Earnings for Biogen

Key Points

• Rothschild & Co Redburn cut its Q2 2026 EPS estimate for Biogen to $3.52 from $4.73, signaling reduced near‑term earnings expectations.
• Biogen recently beat Q1 results (EPS $3.57 vs. $2.95 consensus) and maintains FY2026 guidance of $14.25–$15.25 per share, highlighting a disconnect between recent performance and some analyst revisions.
• The FDA pushed the PDUFA date for subcutaneous LEQEMBI IQLIK back three months to August 24, 2026 after requesting a major amendment, which may delay broader uptake and has prompted other firms (Wolfe, Needham) to trim near‑term forecasts while overall analyst sentiment remains mixed with an average target around $214.

Biogen Inc. (NASDAQ:BIIB - Free Report) - Investment analysts at Rothschild & Co Redburn cut their Q2 2026 earnings per share (EPS) estimates for shares of Biogen in a research note issued on Tuesday, May 5th. Rothschild & Co Redburn analyst S. Chesney now forecasts that the biotechnology company will post earnings per share of $3.52 for the quarter, down from their previous forecast of $4.73. The consensus estimate for Biogen's current full-year earnings is $14.31 per share.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The biotechnology company reported $3.57 earnings per share for the quarter, beating the consensus estimate of $2.95 by $0.62. The business had revenue of $2.48 billion during the quarter, compared to analysts' expectations 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 quarter last year, the business posted $3.02 EPS. Biogen has set its FY 2026 guidance at 14.250-15.250 EPS.

Several other research firms have also recently weighed in on BIIB. Morgan Stanley raised their price target on Biogen from $200.00 to $206.00 and gave the company an "equal weight" rating in a report on Thursday, April 30th. Wells Fargo & Company raised their price objective on Biogen from $190.00 to $200.00 and gave the company an "equal weight" rating in a research note on Sunday, February 8th. Stifel Nicolaus raised their price objective on Biogen from $202.00 to $214.00 and gave the company a "buy" rating in a research note on Friday, February 6th. Piper Sandler raised Biogen from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $177.00 to $214.00 in a research note on Tuesday, April 14th. Finally, Royal Bank Of Canada raised their price objective on Biogen from $213.00 to $222.00 and gave the company an "outperform" rating in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Biogen currently has a consensus rating of "Moderate Buy" and an average target price of $214.23.

Biogen Stock Performance

NASDAQ BIIB opened at $191.38 on Friday. The stock has a market capitalization of $28.25 billion, a PE ratio of 20.53, a P/E/G ratio of 1.67 and a beta of 0.19. The business has a 50 day simple moving average of $184.27 and a two-hundred day simple moving average of $177.50. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.06 and a quick ratio of 2.41. Biogen has a 1-year low of $115.25 and a 1-year high of $202.41.

Institutional Investors Weigh In On Biogen

A number of institutional investors and hedge funds have recently modified their holdings of BIIB. Reflection Asset Management bought a new stake in shares of Biogen during the 4th quarter worth approximately $25,000. WPG Advisers LLC lifted its stake in shares of Biogen by 417.9% during the 4th quarter. WPG Advisers LLC now owns 145 shares of the biotechnology company's stock worth $26,000 after acquiring an additional 117 shares during the last quarter. Accredited Wealth Management LLC lifted its stake in shares of Biogen by 1,233.3% during the 3rd quarter. Accredited Wealth Management LLC now owns 200 shares of the biotechnology company's stock worth $28,000 after acquiring an additional 185 shares during the last quarter. First Horizon Corp bought a new stake in shares of Biogen during the 4th quarter worth approximately $30,000. Finally, WFA of San Diego LLC bought a new stake in shares of Biogen during the 2nd quarter worth approximately $32,000. 87.93% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Priya Singhal sold 2,660 shares of the firm's 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 directly owned 8,043 shares of the company's stock, valued at $1,607,232.69. This trade represents a 24.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by insiders.

Biogen News Summary

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Canaccord Genuity reaffirmed a buy stance on Biogen, which supports upside sentiment among growth‑oriented investors. Canaccord Genuity Sticks to Its Buy Rating for Biogen (BIIB)
• Neutral Sentiment: Barclays reiterated a hold rating, keeping institutional view mixed and suggesting no immediate change in conviction. Barclays Keeps Their Hold Rating on Biogen (BIIB)
• Neutral Sentiment: BMO Capital reaffirmed its hold rating as well, reinforcing the view that near‑term fundamentals remain unchanged absent regulatory clarity. BMO Capital Reaffirms Their Hold Rating on Biogen (BIIB)
• Negative Sentiment: The FDA has extended the PDUFA review for LEQEMBI IQLIK (subcutaneous lecanemab-irmb) by three months to August 24, 2026 after requesting additional information deemed a “major amendment.” That pushes potential broader market adoption of a simpler weekly subcutaneous initiation regimen later than expected and may delay revenue upside tied to expanded dosing options; the company and Eisai say no approvability concerns have been raised so far. The PR also reiterates safety warnings (ARIA, hemorrhage risks) that can limit uptake even after approval. Update on FDA Priority Review of LEQEMBI IQLIK (PRNewsWire)
• Negative Sentiment: Wolfe Research and Needham issued updated estimates: Wolfe cut its Q2 2026 EPS forecast meaningfully (from prior levels to ~$3.11) and Needham trimmed its near‑term Q2 view as well — these downward revisions increase short‑term earnings risk and may pressure sentiment until Biogen demonstrates revenue traction beyond existing products.

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.

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