Biogen (BIIB) Expected to Post Earnings on Wednesday

Key Points

• Biogen is expected to report Q3 2026 results on October 28, with analysts forecasting $1.98 in earnings per share and $2.64 billion in revenue. The company’s fiscal-year 2026 guidance is $12.00–$13.00 EPS.
• Biogen exceeded expectations in its most recent quarter, posting $3.60 EPS versus the $2.94 consensus and $2.74 billion in revenue versus $2.46 billion expected. Revenue increased 3.4% year over year.
• Investor focus is on Biogen’s growth pipeline, particularly long-term EMPAVELI data, felzartamab programs and the Apellis acquisition. Analysts remain broadly positive, with a consensus “Moderate Buy” rating, although valuation concerns, EMPAVELI’s boxed warning and execution risks remain.

Biogen (NASDAQ:BIIB - Get Free Report) is projected to post its Q3 2026 results before the market opens on Wednesday, October 28th. Analysts expect Biogen to post earnings of $1.98 per share and revenue of $2.64 billion for the quarter. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Interested persons may review the information on the company's upcoming Q3 2026 earnings summary page for the latest details on the call scheduled for Wednesday, October 28, 2026 at 8:30 AM ET.

Biogen (NASDAQ:BIIB - Get Free Report) last posted 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. The business had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.46 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business's revenue for the quarter was up 3.4% on a year-over-year basis. During the same period in the prior year, the company posted $5.47 EPS. On average, analysts expect Biogen to post $12.31 EPS for the current fiscal year and $15.91 EPS for the next fiscal year.

Biogen Stock Performance

Shares of BIIB opened at $243.10 on Wednesday. The company has a 50-day simple moving average of $221.28 and a 200-day simple moving average of $204.74. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $35.92 billion, a PE ratio of 16.71, a P/E/G ratio of 2.60 and a beta of 0.09. Biogen has a 52-week low of $138.00 and a 52-week high of $244.65.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BIIB. Seaport Research Partners raised shares of Biogen to an "outperform" rating in a report on Monday, October 12th. Weiss Ratings raised shares of Biogen from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, September 24th. TD Cowen increased their target price on shares of Biogen from $215.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Stifel Nicolaus set a $242.00 price target on shares of Biogen in a research report on Thursday, September 10th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Biogen in a research note on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $239.96.

Key Stories Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen announced that 76-week EMPAVELI® (pegcetacoplan) data to be presented at ASN Kidney Week showed sustained proteinuria reduction, continued stabilization of kidney function and a consistent long-term safety profile in patients with C3G and primary IC-MPGN. The data supports the commercial potential of EMPAVELI following its expanded FDA approval. Biogen nephrology data announcement
• Positive Sentiment: The company is highlighting a broader nephrology strategy, including investigational felzartamab programs in antibody-mediated rejection, IgA nephropathy and membranous nephropathy. Investors may view these programs, along with the Apellis acquisition, as potential sources of growth and earnings accretion beginning in 2027. Biogen kidney-disease data and pipeline analysis
• Positive Sentiment: Wells Fargo raised its Biogen price target from $250 to $310 and maintained an “overweight” rating, reinforcing bullish sentiment toward the company’s pipeline and longer-term growth outlook.
• Positive Sentiment: Recent analyst coverage remains constructive, with Needham, Evercore ISI and Guggenheim issuing buy or outperform ratings. Institutional ownership was also mixed but leaned positive, with more investors adding shares than reducing positions in the latest reported quarter.
• Neutral Sentiment: Investors are likely positioning ahead of Biogen’s third-quarter 2026 earnings report and webcast scheduled for October 28, which could provide updates on EMPAVELI sales, the Apellis integration and full-year expectations.
• Negative Sentiment: Valuation indicators provide a counterpoint: GuruFocus’ estimated GF Value of $202.16 is below the referenced market price, while the median analyst price target of $223.50 is also lower. EMPAVELI carries a boxed warning for serious infections and requires a REMS program, potentially limiting adoption.
• Negative Sentiment: Biogen insider activity has been unfavorable, with two reported insider sales and no purchases during the past six months. Felzartamab also remains investigational, so its projected contribution depends on future clinical and regulatory success.

About Biogen

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer's disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company's portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer's disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.

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