Wolfe Research Has Negative Forecast for Biogen Q1 Earnings

Biogen Inc. (NASDAQ:BIIB) – Investment analysts at Wolfe Research dropped their Q1 2026 earnings estimates for shares of Biogen in a report released on Monday, April 20th. Wolfe Research analyst A. Hammond now expects that the biotechnology company will post earnings of $2.64 per share for the quarter, down from their previous forecast of $2.79. The consensus estimate for Biogen’s current full-year earnings is $15.75 per share. Wolfe Research also issued estimates for Biogen’s FY2027 earnings at $16.28 EPS.

Biogen (NASDAQ:BIIB) last released its 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. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.21 billion. Biogen had a return on equity of 12.64% and a net margin of 13.07%.Biogen’s quarterly revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.44 EPS. Biogen has set its FY 2026 guidance at 15.250-16.250 EPS.

A number of other brokerages have also recently issued reports on BIIB. HC Wainwright lifted their price objective on shares of Biogen from $228.00 to $237.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Stifel Nicolaus raised their target price on Biogen from $202.00 to $214.00 and gave the company a “buy” rating in a report on Friday, February 6th. TD Cowen lifted their price target on Biogen from $175.00 to $215.00 and gave the company a “buy” rating in a research note on Monday, February 9th. BMO Capital Markets upped their price objective on Biogen from $165.00 to $196.00 and gave the stock a “market perform” rating in a research report on Friday, February 6th. Finally, Barclays assumed coverage on Biogen in a research note on Thursday, February 19th. They issued an “equal weight” rating and a $185.00 price objective on the stock. Fourteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $211.31.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $187.88 on Thursday. The firm has a 50 day moving average of $185.37 and a 200-day moving average of $174.82. Biogen has a 12 month low of $115.25 and a 12 month high of $202.41. The company has a current ratio of 2.68, a quick ratio of 2.03 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $27.57 billion, a PE ratio of 21.33, a PEG ratio of 2.54 and a beta of 0.16.

Institutional Investors Weigh In On Biogen

Institutional investors have recently modified their holdings of the company. Adams Diversified Equity Fund Inc. lifted its holdings in Biogen by 126.4% in 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 buying an additional 56,000 shares during the period. Econ Financial Services Corp raised its position in shares of Biogen by 11.4% in the 1st quarter. Econ Financial Services Corp now owns 4,397 shares of the biotechnology company’s stock worth $806,000 after acquiring an additional 451 shares in the last quarter. Poehling Capital Management INC. acquired a new position in shares of Biogen in the 1st quarter valued at about $210,000. Aaron Wealth Advisors LLC bought a new stake in shares of Biogen during the 1st quarter valued at about $217,000. Finally, Louisiana State Employees Retirement System bought a new stake in shares of Biogen during the 1st quarter valued at about $1,375,000. 87.93% of the stock is owned by institutional investors.

Insider Activity at Biogen

In related news, insider Priya Singhal sold 2,660 shares of the company’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 sale, the insider directly owned 8,043 shares in the company, valued at $1,607,232.69. This represents a 24.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Biogen News Roundup

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: UBS upgraded BIIB to Buy and raised its price target to $225, citing a “slew of pipeline catalysts” over the next 12–15 months that could materially boost revenue and valuation. Biogen upgraded by UBS on ‘slew of pipeline catalysts’ going into 2027
• Neutral Sentiment: Several analysts issued mixed takes — some raising targets but keeping neutral ratings, which suggests upside is acknowledged but not consensus conviction. This readjusts expectations without flipping broad buy/sell positioning. Analysts’ Opinions Are Mixed on These Healthcare Stocks: Biogen (BIIB)…
• Neutral Sentiment: JPMorgan raised its price target to $185 but kept a Neutral rating — marginally higher valuation support but still limited upside per their view. MarketScreener: JPMorgan adjusts price target on Biogen to $185
• Neutral Sentiment: Rothschild & Co Redburn raised its target to $180 but kept a Neutral rating — another example of price‑target lift without a buy endorsement. MarketScreener: Rothschild & Co Redburn adjusts Biogen price target to $180
• Neutral Sentiment: Jim Cramer noted he’s “reopening the file” on Biogen after recent coverage and upgrades — a media boost that can support short‑term interest but isn’t an analyst endorsement. Jim Cramer Says “I Got to Reopen the File on Biogen”
• Negative Sentiment: Wolfe Research trimmed its Q1 2026 EPS estimate (from $2.79 to $2.64) even as it nudged FY‑2027 estimates higher — the near‑term cut can pressure the stock ahead of earnings.
• Negative Sentiment: HSBC reiterated a Reduce rating and uses a $150 target — a markedly lower anchor than UBS and others, which can prompt selling by investors who follow conservative sell‑side views. What is HSBC’s Estimate for Biogen Q1 Earnings?
• Neutral Sentiment: Barclays reaffirmed its Hold rating — another stabilizing but non‑bullish stance. Barclays Reaffirms Their Hold Rating on Biogen (BIIB)

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.