Biogen (NASDAQ:BIIB) Releases Quarterly Earnings Results, Beats Estimates By $0.38 EPS

Biogen (NASDAQ:BIIB) announced its quarterly earnings data on Friday. The biotechnology company reported $1.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.61 by $0.38, FiscalAI reports. Biogen had a net margin of 15.98% and a return on equity of 14.13%. The firm had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same quarter in the prior year, the firm posted $3.44 earnings per share. Biogen’s quarterly revenue was down 7.2% on a year-over-year basis. Biogen updated its FY 2026 guidance to 15.250-16.250 EPS.

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

• Biogen reported stronger-than-expected results, with full-year non-GAAP diluted EPS of $15.28, total 2025 revenue of ~$9.9 billion, $2.1 billion in free cash flow, and $4.2 billion in cash and marketable securities, giving the company financial flexibility.
• Leqembi remains the anti-amyloid market leader (>60% share) and the subcutaneous iClick pen is under priority review (PDUFA May 24), which could reduce treatment burden and expand uptake if approved and reimbursed.
• Biogen has materially expanded its late‑stage pipeline with multiple near‑term catalysts — notably litifilimab (SLE readout by year‑end), felzartamab (AMR readouts next year), BIIB080 and BIIB122 mid‑year signals, and Spinraza high‑dose regulatory activity — creating potential upside if data are positive.
• Despite EPS guidance of $15.25–$16.25 for 2026, management expects total revenue to decline mid‑single digits and legacy MS revenues (ex‑Vumerity) to fall by mid‑teens % in 2026 due to generic and biosimilar pressure.
• Management is actively deploying capital into BD and strategic investments (Alcyone acquisition, deals with Vanqua and Deira), recorded $222 million of IPR&D charges in Q4, and says opportunistic M&A and other uses of the strengthened balance sheet remain possible.

Biogen Stock Up 8.5%

Shares of NASDAQ:BIIB opened at $201.18 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.72 and a quick ratio of 2.04. The firm has a market capitalization of $29.51 billion, a PE ratio of 18.34, a price-to-earnings-growth ratio of 1.56 and a beta of 0.16. The firm’s 50-day moving average is $176.94 and its two-hundred day moving average is $156.67. Biogen has a 1 year low of $110.04 and a 1 year high of $202.41.

Analyst Ratings Changes

Several analysts have recently commented on BIIB shares. Mizuho lifted their price target on shares of Biogen from $177.00 to $207.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Wedbush raised their target price on Biogen from $143.00 to $178.00 and gave the stock a “neutral” rating in a research note on Friday, January 23rd. Jefferies Financial Group upped their price target on Biogen from $190.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 28th. Oppenheimer increased their price target on Biogen from $205.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, January 30th. Finally, Wall Street Zen downgraded Biogen from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th. Eleven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $193.77.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 748 shares of Biogen stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $179.30, for a total value of $134,116.40. Following the completion of the transaction, the insider owned 6,271 shares in the company, valued at approximately $1,124,390.30. The trade was a 10.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Biogen

Institutional investors have recently modified their holdings of the business. WFA of San Diego LLC acquired a new stake in shares of Biogen during the 2nd quarter worth about $32,000. Caitong International Asset Management Co. Ltd purchased a new position in Biogen in the third quarter valued at approximately $54,000. MUFG Securities EMEA plc acquired a new stake in Biogen during the second quarter worth approximately $54,000. Larson Financial Group LLC lifted its position in shares of Biogen by 23.4% during the 3rd quarter. Larson Financial Group LLC now owns 638 shares of the biotechnology company’s stock worth $89,000 after buying an additional 121 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Biogen by 8.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,189 shares of the biotechnology company’s stock valued at $167,000 after buying an additional 89 shares in the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen News Roundup

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Q4 beat on both EPS ($1.99 vs. consensus ~1.72) and revenue ($2.28B vs. ~$2.21B); investors reacted favorably to the upside. BIIB Beats on Q4 Earnings & Sales, Stock Gains on Upbeat ’26 EPS View
• Positive Sentiment: Biogen raised FY‑2026 adjusted EPS guidance to $15.25–$16.25, above consensus — a major driver of the rally as it signals stronger full‑year profitability expectations. Biogen forecasts annual profit above estimates as Leqembi sales pick up
• Positive Sentiment: Sales of Leqembi and newer launches (Skyclarys, Zurzuvae) showed meaningful growth and helped offset MS declines, supporting upside to future revenue mix and margins. Biogen Hits 52-Week High, Alzheimer’s Drug Sales Jump
• Positive Sentiment: Recent analyst support (RBC buy) and favorable coverage helped sentiment alongside the earnings/guidance beat. Biogen (BIIB) Receives a Buy from RBC Capital
• Neutral Sentiment: Management released the full earnings slide deck and call transcript — useful for modeling guidance assumptions and product-level trends but not market-moving on its own. Biogen Inc. (BIIB) Q4 2025 Earnings Call Transcript
• Negative Sentiment: Core MS franchise continued to decline, driving overall revenue down ~7.2% YoY; management said MS revenue pressures will persist, which limits near‑term top‑line growth. Biogen 4Q Revenue Down as Multiple Sclerosis Sales Slide
• Negative Sentiment: Some outlets note Biogen “swung to a loss” on certain GAAP measures and expect continued portfolio declines, underlining execution and pricing risks in legacy products. Biogen Stock Rises Even as Multiple Sclerosis Revenue Tumbles

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.