Analyst Consensus ?
ConsensusBuy24 ratings
Bullish1354.2%
Neutral1145.8%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
Bio-Techne Corporation · TECH · FY2026 Q3 · Calendar Q2 2026
Bio-Techne Q3: Organic Revenue Dips 2% as Spatial Biology and Cell Therapy Offset Timing Headwinds
Bio-Techne's Q3 FY2026 results showed a 2% organic revenue decline, though underlying growth was 2% after excluding cell-therapy and OEM timing headwinds. Both EPS ($0.53 vs. $0.55 estimated) and revenue ($311.4M vs. $316.1M estimated) missed consensus. The market reacted sharply, with the stock falling 17.7% on an abnormal basis, though it partially recovered with a 12.2% subsequent drift. The core thesis hinges on growth platforms — COMET spatial biology (>65% growth, record backlog), Ella proteomics (CE-IVD marking achieved), and GMP cell-therapy reagents (~50% YoY growth ex-timing) — offsetting near-term softness in emerging biotech spending and customer timing issues. Management maintained guidance but shifted the acceleration narrative to FY2027, tempering near-term expectations.
Reported Before market openNASDAQHealthcare
$11.28B market cap
100quality score
Company context
Snapshot as of publicationBio-Techne Corporation, together with its subsidiaries, develops, manufactures, and sells life science reagents, instruments, and services for the research, diagnostics, and bioprocessing markets worldwide. The company operates through two segments, Protein Sciences, and Diagnostics and Spatial Biology. The Protein Sciences segment develops and manufactures biological reagents used in various aspects of life science research, diagnostics, and cell and gene therapy, such as cytokines and growth factors, antibodies, small molecules, tissue culture sera, and cell selection technologies. This segment also offers proteomic analytical tools for automated western blot and multiplexed ELISA workflow consists of manual and automated protein analysis instruments and immunoassays for use in quantifying proteins in various biological fluids.…
Earnings scorecard
Reported versus consensus
Reported EPS
$0.53
Consensus $1
EPS surprise
-3.6%
Reported versus consensus
Reported revenue
$311.4M
Consensus $316.1M
Revenue surprise
-1.5%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$72.14Current
$49Low
$76.23Average
$106.25High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 31, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| RBC Capital | Sector Perform | Outperform | Downgrade | Jul 9, 2026 |
| TD Cowen | Hold | Buy | Downgrade | Jun 30, 2026 |
| Benchmark | Hold | Buy | Downgrade | Jun 30, 2026 |
| Citigroup | Neutral | Buy | Downgrade | Jun 29, 2026 |
| William Blair | Market Perform | Outperform | Downgrade | Jun 26, 2026 |
| Stephens & Co. | Equal Weight | Overweight | Downgrade | Jun 26, 2026 |
| Baird | Neutral | Neutral | Maintain | Jun 26, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | May 7, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | May 7, 2026 |
| UBS | Buy | Buy | Maintain | Feb 5, 2026 |
| Stifel | Hold | Hold | Maintain | Feb 5, 2026 |
| Argus Research | Buy | Buy | Maintain | Nov 20, 2025 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Jul 11, 2025 |
| Keybanc | Overweight | Downgrade | Apr 9, 2025 | |
| Deutsche Bank | Buy | Buy | Maintain | Apr 18, 2024 |
| SVB Leerink | Outperform | Outperform | Maintain | Feb 3, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | Aug 25, 2022 |
| Craig-Hallum | Buy | Buy | Maintain | Feb 3, 2021 |
| Atlantic Equities | Overweight | Overweight | Maintain | Sep 30, 2020 |
| Stifel Nicolaus | Buy | Buy | Maintain | Nov 15, 2019 |
| Janney Montgomery Scott | Buy | Neutral | Upgrade | Jul 2, 2019 |
| Janney Capital | Buy | Neutral | Upgrade | Jul 2, 2019 |
| Goldman Sachs | Neutral | Neutral | Maintain | Oct 17, 2018 |
| Argus | Buy | Buy | Maintain | Oct 2, 2018 |
| Leerink Swann | Market Perform | Market Perform | Maintain | Apr 29, 2014 |
Named analyst price targets
Upside is calculated against the persisted current price $72.14. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Stephens | Steven Etoch | $73 | $71.16 | +1.2% | Jun 26, 2026 |
| Robert W. Baird | Catherine Ramsey Schulte | $73 | $70.7 | +1.2% | Jun 26, 2026 |
| Deutsche Bank | Justin Bowers | $73 | $70.7 | +1.2% | Jun 26, 2026 |
| Leerink Partners | Market Perform | $73 | $70.54 | +1.2% | Jun 25, 2026 |
| Piper Sandler | Analyst unavailable | $65 | $52.5 | -9.9% | Jun 11, 2026 |
| RBC Capital | Analyst unavailable | $62 | $44.74 | -14.1% | May 14, 2026 |
| Evercore ISI | Daniel Markowitz | $50 | $49.26 | -30.7% | May 7, 2026 |
| Stifel Nicolaus | Analyst unavailable | $50 | $47.4 | -30.7% | May 7, 2026 |
| Robert W. Baird | Analyst unavailable | $49 | $47.4 | -32.1% | May 7, 2026 |
| Stifel Nicolaus | Analyst unavailable | $65 | $67.64 | -9.9% | Feb 5, 2026 |
| UBS | Analyst unavailable | $79 | $68.67 | +9.5% | Feb 5, 2026 |
| Robert W. Baird | Analyst unavailable | $70 | $68.67 | -3.0% | Feb 5, 2026 |
| Evercore ISI | Analyst unavailable | $62 | $59.65 | -14.1% | Jan 5, 2026 |
| Deutsche Bank | Justin Bowers | $72 | $59.67 | -0.2% | Dec 12, 2025 |
| Argus Research | Analyst unavailable | $68 | $58.64 | -5.7% | Nov 20, 2025 |
| Evercore ISI | Analyst unavailable | $68 | $58.4 | -5.7% | Nov 6, 2025 |
| RBC Capital | Conor McNamara | $73 | $53.42 | +1.2% | Sep 2, 2025 |
| Evercore ISI | Analyst unavailable | $75 | $62.58 | +4.0% | Mar 17, 2025 |
| Robert W. Baird | Catherine Schulte | $84 | $76.02 | +16.4% | Oct 31, 2024 |
| KeyBanc | Paul Knight | $80 | $76.02 | +10.9% | Oct 30, 2024 |
| Scotiabank | Sung Ji Nam | $83 | $74.19 | +15.0% | Aug 16, 2024 |
| Deutsche Bank | Analyst unavailable | $100 | $86.98 | +38.6% | Dec 14, 2022 |
| Citigroup | Analyst unavailable | $100 | $80.73 | +38.6% | Dec 12, 2022 |
| RBC Capital | Analyst unavailable | $89 | $80.67 | +23.4% | Dec 7, 2022 |
| Stephens | Analyst unavailable | $105 | $82.44 | +45.5% | Dec 5, 2022 |
| KeyBanc | Paul Knight | $125 | $98.96 | +73.3% | May 5, 2022 |
| Wells Fargo | Analyst unavailable | $92.5 | $100.75 | +28.2% | Apr 25, 2022 |
| Citigroup | Patrick B Donnelly | $106.25 | $102.45 | +47.3% | May 6, 2021 |
Track every rating change on TECH the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
-16.4%
Event window
SPY move
+1.4%
Same window
Abnormal move
-17.7%
Stock minus SPY
Volume
5.9×
Versus trailing sessions
Subsequent drift
+12.2%
Up to 20 sessions
TECHSPY benchmark
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What changed
Compared to Q2 FY2026 where revenue was flat with 100 bps operating margin expansion to 31.1%, Q3 saw a 2% organic revenue decline. The Fast Track cell-therapy timing headwinds that emerged in Q2 persisted into Q3, though GMP protein revenue grew nearly 50% YoY excluding those effects. New developments include a strategic brand consolidation from 10 brands to 3 (R&D Systems, Bio-Techne Spatial Biology, Bio-Techne Diagnostics), a Providence Health and Microsoft collaboration on the GigaTIME AI framework using Bio-Techne spatial biology data, and the Ella platform achieving CE-IVD marking for European clinical use. The COMET spatial biology platform grew over 65% and set a record backlog. The bullish score declined modestly from 70 to 65.
Guidance delta
Guidance sentiment was maintained in both Q2 and Q3. However, the near-term outlook softened: management now expects flat organic growth in Q4 FY2026, with the mid-single-digit growth expectation pushed to FY2027 as biotech funding translates to spending and cell-therapy timing headwinds dissipate. In Q2, management had guided to mid-single-digit organic growth for the remainder of FY26.
Key takeaways
- Q3 organic revenue fell 2%, but underlying growth was 2% after excluding cell-therapy and OEM timing impacts.
- EPS of $0.53 missed the $0.55 estimate by 3.6%; revenue of $311.4M missed the $316.1M estimate by 1.5%.
- COMET spatial biology platform grew over 65% with a record backlog; Ella achieved CE-IVD marking for European clinical use.
- GMP protein revenue grew nearly 50% YoY excluding timing effects from Fast Track customer designations.
- Large pharma maintained low double-digit growth; U.S. academia stabilized at low single-digit growth.
- Brand consolidation from 10 brands to 3 to streamline customer engagement and cross-selling.
Management priorities
- Complete the acquisition of Wilson Wolf to fully own the G-Rex bioreactor line by end of calendar 2027.
- Expand COMET platform installations, starting with the recent deployment in China.
- Leverage AI protein design tools to develop novel, patentable proteins.
- Roll out CE-IVD marked Ella platform for broader clinical use in Europe.
- Implement the three-brand structure to streamline customer engagement and cross-selling.
Related earnings events
HealthcareSources
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- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-31T16:51:13.136261+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 . For educational purposes only; not investment advice.