Biogen Inc. (NASDAQ:BIIB) on Friday reported better-than-expected fourth-quarter earnings.
The company posted quarterly adjusted EPS of $1.99, beating the consensus of $1.59. The Alzheimer’s drug maker reported revenues of $2.28 billion, beating the consensus of $2.20 billion, down 7% on a reported and constant currency basis.
“Our 2025 performance reflected continued focus on strong execution and financial discipline, driven by our revenue of nearly $1 billion from LEQEMBI, SKYCLARYS, ZURZUVAE, and QALSODY, progression of our pipeline, and resilience of our MS franchise,” commented Christopher Viehbacher, President and CEO.
Biogen expects fiscal 2026 earnings between $15.25 and $16.25 per share, versus the consensus of $14.92. The company expects revenue to decline by mid-single digits compared to 2025, as further declines in Multiple sclerosis product revenue, excluding Vumerity, are expected to be partially offset by increases in revenue from growth
Biogen shares fell 0.9% to $199.40 in pre-market trading.
These analysts made changes to their price targets on Biogen following earnings announcement.
- Piper Sandler analyst David Amsellem maintained Biogen with a Neutral and raised the price target from $157 to $177.
- HC Wainwright & Co. analyst Andrew S. Fein maintained the stock with a Buy and raised the price target from $194 to $228.
- Wedbush analyst Laura Chico maintained Biogen with a Neutral and boosted the price target from $178 to $187.
Considering buying BIIB stock? Here’s what analysts think:

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