Biotech company Biogen (NASDAQ: BIIB) will be reporting results this Friday before market open. Here’s what investors should know.

Biogen beat analysts’ revenue expectations by 8.6% last quarter, reporting revenues of $2.53 billion, up 2.8% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.

Is Biogen a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Biogen’s revenue to decline 10.3% year on year to $2.20 billion, a reversal from the 2.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.63 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Biogen has missed Wall Street’s revenue estimates twice over the last two years.

Looking at Biogen’s peers in the biotechnology segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Amgen delivered year-on-year revenue growth of 8.6%, beating analysts’ expectations by 4.1%, and AbbVie reported revenues up 6%, falling short of estimates by 1.5%. Amgen traded up 8.1% following the results.

Read our full analysis of Amgen’s results here and AbbVie’s results here.

Debates over possible tariffs and corporate tax adjustments have raised questions about economic stability in 2025. While some of the biotechnology stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 4% on average over the last month. Biogen is up 1.9% during the same time and is heading into earnings with an average analyst price target of $192.72 (compared to the current share price of $185.42).

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