Wolfe Research Issues Negative Forecast for Biogen Earnings

Biogen Inc. (NASDAQ:BIIB) – Analysts at Wolfe Research reduced their Q2 2026 earnings per share estimates for Biogen in a report released on Monday, April 20th. Wolfe Research analyst A. Hammond now expects that the biotechnology company will post earnings per share of $3.78 for the quarter, down from their previous estimate of $4.32. The consensus estimate for Biogen’s current full-year earnings is $15.77 per share.

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

A number of other research analysts have also recently weighed in on the company. TD Cowen lifted their price objective on Biogen from $175.00 to $215.00 and gave the company a “buy” rating in a research report on Monday, February 9th. Truist Financial lowered their price objective on Biogen from $193.00 to $189.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. BMO Capital Markets lifted their price objective on Biogen from $165.00 to $196.00 and gave the company a “market perform” rating in a research report on Friday, February 6th. Canaccord Genuity Group lifted their price objective on Biogen from $230.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Finally, Argus raised Biogen to a “hold” rating in a research report on Thursday, April 9th. Fourteen research 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.com, Biogen presently has a consensus rating of “Hold” and a consensus price target of $211.31.

Biogen Trading Down 1.9%

Shares of NASDAQ:BIIB opened at $184.38 on Friday. The stock has a market capitalization of $27.06 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 2.51 and a beta of 0.16. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.03 and a current ratio of 2.68. The stock’s 50-day simple moving average is $185.13 and its two-hundred day simple moving average is $175.03. Biogen has a 52-week low of $115.25 and a 52-week high of $202.41.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 2,660 shares of Biogen stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $199.83, for a total transaction of $531,547.80. Following the transaction, the insider directly owned 8,043 shares of the company’s stock, valued at $1,607,232.69. The trade was a 24.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by insiders.

Institutional Trading of Biogen

Several institutional investors and hedge funds have recently added to or reduced their stakes in BIIB. Norges Bank bought a new stake in Biogen during the 4th quarter valued at approximately $464,408,000. Boston Partners bought a new stake in Biogen during the 4th quarter valued at approximately $302,815,000. Fred Alger Management LLC raised its stake in Biogen by 39,074.8% during the 4th quarter. Fred Alger Management LLC now owns 798,774 shares of the biotechnology company’s stock valued at $140,576,000 after purchasing an additional 796,735 shares during the period. Employees Provident Fund Board bought a new stake in Biogen during the 4th quarter valued at approximately $123,931,000. Finally, Orion Porfolio Solutions LLC raised its stake in Biogen by 6,828.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 517,275 shares of the biotechnology company’s stock valued at $64,965,000 after purchasing an additional 509,809 shares during the period. Institutional investors own 87.93% of the company’s stock.

Key Headlines Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen struck a China deal to develop felzartamab as a domestically produced anti‑CD38 therapy for multiple myeloma — this expands its China footprint and could open a meaningful growth market. Biogen seeks Darzalex rivalry in China for multiple myeloma with felzartamab deal
• Positive Sentiment: UBS upgraded Biogen, and JPMorgan raised its price target to $185 (still a Neutral rating) — these moves provide some analyst validation for the story but stop short of a full buy case. UBS upgrades Biogen (BIIB) JPMorgan raises price target
• Neutral Sentiment: Q1 earnings preview pieces highlight that new products (Skyclarys, Zurzuvae) are driving growth but legacy MS sales face competitive pressure — outcome of Q1 will be a key catalyst and remains uncertain. Biogen Q1 Earnings: Can New Launches Offset Declining MS Franchise?
• Neutral Sentiment: Rothschild & Co Redburn issued EPS estimates and raised its price target to $180 while maintaining a Neutral rating — adds supply of modeled forecasts but not a bullish call. Rothschild & Co Redburn estimates and target
• Negative Sentiment: Short interest rose to ~4.41M shares as of April 15 (+15.4% vs. March 31), representing about 3.0% of float and a short‑interest ratio ~3.1 days — higher shorting can amplify downward pressure around weak news. (Note: an April 24 data point showing zero shares appears to be a reporting anomaly.)
• Negative Sentiment: Wolfe Research trimmed Q1 and Q2 EPS estimates (and trimmed Q2 guidance), signaling risk to near‑term earnings expectations and likely contributing to negative trading sentiment.

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.