Biogen Inc. · BIIB · FY2024 Q1 · Calendar Q2 2024

Biogen highlights launch momentum and cost discipline

The call supports a cautiously constructive view of Biogen's near-term trajectory: launch momentum and cost savings are improving the earnings profile, but access, regulatory timing, and adoption risks remain material.

Reported Before market openNASDAQHealthcare $33.35B market cap
100quality score

Earnings scorecard

Reported versus consensus
Reported EPS $3.67 Consensus $3.47
EPS surprise +5.8% Reported versus consensus
Reported revenue $2.20B Consensus $2.31B
Revenue surprise -4.7% Reported versus consensus

Market reaction

prior-close to event-session close
Stock move +4.6% Event window
SPY move -0.0% Same window
Abnormal move +4.6% Stock minus SPY
Volume 2.8× Versus trailing sessions
Subsequent drift +11.5% Up to 20 sessions
BIIBSPY benchmark

Ask FN2 about BIIB FY2024 Q1

Transcript, numbers and history already loaded

Free account. Your question opens in FN2 with this report's transcript and numbers attached.

Transcript intelligence

What changed

Relative to the prior-quarter analysis, the current analysis described EPS growth, continued LEQEMBI uptake, SKYCLARYS penetration of about 24% in the U.S., and further progress toward the LEQEMBI subcutaneous filing while full-year guidance remained maintained.

Guidance delta

Management maintained full-year guidance.

Key takeaways

  • Management said EPS growth returned after several years, supported by cost reductions and product mix.
  • LEQEMBI patient growth continued despite reimbursement and infusion-site hurdles.
  • SKYCLARYS reached about 24% U.S. market penetration, while ZURZUVAE adoption expanded.
  • The balance sheet and cash flow were presented as supporting continued investment.

Management priorities

  • Expand the U.S. sales force across priority IDNs.
  • Advance the LEQEMBI subcutaneous filing and induction submission.
  • Broaden SKYCLARYS outreach and European reimbursement efforts.
  • Use direct-to-patient and caregiver campaigns to support LEQEMBI and ZURZUVAE.

Follow BIIB with an agent that reads every filing, transcript, and price print. Free to start.

Try FN2 free

Earnings History

Estimate Beat Miss Match
BIIB REVENUE earnings history estimate and actual scatter chart 9 reported fiscal quarters and 3 future estimate-only quarters. Q1 '24 estimate $2B Q1 '24 actual $2B, miss Q2 '24 estimate $2B Q2 '24 actual $2B, miss Q3 '24 estimate $2B Q3 '24 actual $2B, beat Q2 '25 estimate $2B Q2 '25 actual $3B, beat Q3 '25 estimate $2B Q3 '25 actual $2B, beat Q4 '25 estimate $2B Q4 '25 actual $2B, beat Q1 '26 estimate $2B Q1 '26 actual $2B, beat Q2 '26 estimate $2B Q2 '26 actual $3B, beat Q3 '26 estimate $3B Q4 '26 estimate $3B Q1 '27 estimate $3B
Show 1 more >

Analyst Consensus ?

ConsensusBuy49 ratings
Bullish3163.3%
Neutral1734.7%
Bearish12.0%

Analyst 52W Price Targets

$229.41Current
$157Low
$252.47Average
$415High

Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 12, 2026. Not an FN2 forecast.

Firm-level rating actions

FMP grade actions identify the grading firm, not a named analyst.

FirmRatingPrior ratingActionDate
UBS Buy BuyMaintainOct 9, 2026
RBC Capital Outperform OutperformMaintainOct 8, 2026
HSBC Reduce ReduceMaintainSep 10, 2026
Piper Sandler Overweight OverweightMaintainSep 3, 2026
Wolfe Research Outperform Peer PerformUpgradeAug 13, 2026
Show 44 more rating actions

Named analyst price targets

Upside is calculated against the persisted current price $229.41. FMP does not supply a rating on these named-analyst rows.

FirmAnalyst52W targetPrice when postedUpsideDate
UBSAnalyst unavailable$270$223.25 +17.7%Oct 9, 2026
RBC CapitalAnalyst unavailable$256$219.91 +11.6%Oct 8, 2026
Stifel NicolausPaul Matteis$242$214.77 +5.5%Sep 10, 2026
HSBCAnalyst unavailable$175$210.73 -23.7%Sep 10, 2026
Piper SandlerAnalyst unavailable$245$222.67 +6.8%Sep 3, 2026
See 138 more

Track every rating change on BIIB the moment it posts. Free to start.

Start free

Company context

Snapshot as of publication

Biogen Inc. is a leading biotechnology firm dedicated to the discovery, development, production, and distribution of treatments for complex neurological and neurodegenerative conditions. Its established portfolio includes a range of medications addressing multiple sclerosis (MS), such as TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA. For spinal muscular atrophy (SMA), Biogen provides SPINRAZA, while FUMADERM is available for the treatment of plaque psoriasis. Among its other key offerings is ADUHELM, specifically developed for Alzheimer's disease. The company also markets a selection of biosimilar drugs, including BENEPALI (an etanercept biosimilar akin to ENBREL), IMRALDI (an adalimumab biosimilar comparable to HUMIRA), and FLIXABI (an infliximab biosimilar referencing REMICADE).…

Historical context

All BIIB earnings

Healthcare peers this season

Latest reports in the same sector
CompanyQuarterEPS surpriseMarket moveHeadline
COO The Cooper Companies, Inc. FY2026 Q3 · Calendar Q3 2026 +2.7% -14.7% CooperCompanies beats expectations as inventory reduction weighs on vision revenue
MDT Medtronic plc FY2027 Q1 · Calendar Q3 2026 +4.3% +1.5% Medtronic raises FY27 outlook as growth broadens across platforms

Latest beats and misses

Who reports next

Get the BIIB recap when the next report posts

One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.

Sources

  1. Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
  2. FN2 earnings calendar · 2024-11-11T06:39:45.180704+00:00
  3. Polygon adjusted daily market bars · 2026-10-12T19:20:43.654638+00:00
  4. Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-12T19:20:43.651444+00:00

Methodology

Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.

Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.

Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.

By FN2 Research · Updated · As of 2026-10-12. For educational purposes only; not investment advice.