| BIIB |
Report |
Total Revenue |
BEAT |
pred ~$2.52B vs. cons $2.46B |
MEDIUM |
| BIIB |
Report |
Non-GAAP Diluted EPS |
IN-LINE |
pred ~$3.15 vs. cons $3.18 |
MEDIUM |
| BIIB |
Report |
Growth Product Revenue (Leqembi/Skyclarys/HD-Spinraza ex-Apellis) |
BEAT |
pred ~$930M vs. cons $880M |
MEDIUM |
| BIIB |
Guide |
FY26 Non-GAAP EPS (first combined guide incl. Apellis + disclosed Q2/Q3 IPR&D charges) |
LOWER |
guide ~$12.75-$13.75 vs. cons ~$14.00 (FY2026) |
MEDIUM |
| BIIB |
Guide |
FY26 Total Revenue growth |
BETTER |
guide ~flat to +2% y/y (~$9.6-9.8B) vs. cons ~-1% y/y (~$9.5B) (FY2026) |
MEDIUM |
| BIIB |
Guide |
Q3 2026 Acquired IPR&D Charge (reaffirmed) |
UNCHANGED |
guide ~$290-320M ($1.75-$1.95/sh) vs. cons ~$300M/$1.85 already flagged (Q3 2026) |
HIGH |
| BIIB |
Return |
Day-1 residual (stock − beta × S&P 500) |
-2.0% |
— |
MEDIUM |
| BIIB |
Return |
5-day cumulative residual |
-3.5% (FOLLOW-THROUGH) |
Core revenue/growth-product beat gets overshadowed by the first combined FY26 EPS guide, which layers the already-disclosed ~$0.95 (Q2) and $1.75-1.95 (Q3) IPR&D charges atop Apellis financing costs (~$120-130M non-GAAP other expense) and integration/amortization drag; even sell-side desks that hadn't fully updated post-8K trim FY26/FY27 EPS models over the following days, and lingering overhang from the mid-July diranersen dose-response miss (no incremental positive catalyst expected on the call beyond reiterating a later Phase 3) keeps buyers sidelined, producing continued single-name underperformance through day 5 rather than a snap-back. |
LOW |