Biogen Slashes 2026 Profit Outlook Despite Q2 Beat, Shares Tumble
BIIB sits 61% above its 52-week low of $124.556.
Summary
Biogen reported strong Q2 results with adjusted EPS of $3.60 and revenue of $2.74B, both beating consensus, driven by strong product demand. However, the company slashed its full-year 2026 adjusted EPS guidance to $12-$13 from $14.25-$15.25, a $3.85 per share hit largely due to acquisition-related charges, including an $0.85 drag from the $5.6B Apellis buyout. Leqembi sales rose 15% to $184M, while legacy MS drugs declined 13% to $963M. The guidance cut overshadowed the quarterly beat, signaling that deal costs are biting harder than expected. This follows recent pipeline updates, including positive Phase 3 lupus data in June and a Parkinson's failure in May, but the earnings reset is the dominant near-term driver.
At the time of this announcement, BIIB was trading at $201.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $30.4B. The 52-week trading range was $124.56 to $219.72. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Reuters.