Biogen (NASDAQ:BIIB) Given New $290.00 Price Target at Robert W. Baird

Key Points

• Robert W. Baird raised Biogen’s price target from $250 to $290 and maintained an “outperform” rating, implying 18.83% upside from the previous close.
• Analyst sentiment is broadly positive: Biogen has an average “Moderate Buy” rating and a consensus target of $245.61, with several firms assigning targets near $300.
• Biogen exceeded quarterly expectations with $2.62 adjusted EPS and $2.80 billion in revenue, although the company reported a GAAP net loss and its shares were down 3.4%.

Biogen (NASDAQ:BIIB - Get Free Report) had its price target upped by equities researchers at Robert W. Baird from $250.00 to $290.00 in a research note issued on Thursday, Benzinga reports. The firm presently has an "outperform" rating on the biotechnology company's stock. Robert W. Baird's price target would indicate a potential upside of 18.83% from the company's previous close.

Several other analysts have also recently issued reports on the company. Morgan Stanley increased their price objective on Biogen from $222.00 to $231.00 and gave the company an "equal weight" rating in a research note on Thursday, July 30th. Oppenheimer reiterated an "outperform" rating and issued a $300.00 price target on shares of Biogen in a research note on Wednesday, July 29th. HSBC boosted their price objective on shares of Biogen from $165.00 to $175.00 and gave the stock a "reduce" rating in a research report on Thursday, September 10th. Citigroup restated a "neutral" rating on shares of Biogen in a report on Wednesday. Finally, Wolfe Research raised shares of Biogen from a "peer perform" rating to an "outperform" rating and set a $300.00 target price on the stock in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $245.61.

Biogen Stock Down 3.4%

Shares of BIIB opened at $244.05 on Thursday. The company's 50-day simple moving average is $225.73 and its 200-day simple moving average is $200.39. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.26 and a current ratio of 1.87. Biogen has a 1 year low of $138.00 and a 1 year high of $258.78. The stock has a market capitalization of $36.06 billion, a PE ratio of 43.19, a P/E/G ratio of 2.99 and a beta of 0.09.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The biotechnology company reported $2.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.99 by $0.63. The firm had revenue of $2.80 billion during the quarter, compared to analysts' expectations of $2.63 billion. Biogen had a net margin of 8.32% and a return on equity of 11.18%. The business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.81 earnings per share. Analysts forecast that Biogen will post 12.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biogen

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Biogen during the 2nd quarter valued at $3,453,878,000. Primecap Management Co. CA acquired a new position in shares of Biogen in the second quarter worth $3,274,304,000. Wellington Management Group LLP raised its holdings in shares of Biogen by 5.3% in the second quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company's stock worth $673,560,000 after acquiring an additional 155,828 shares during the last quarter. Amundi lifted its position in shares of Biogen by 91.8% in the second quarter. Amundi now owns 1,516,831 shares of the biotechnology company's stock valued at $327,727,000 after acquiring an additional 726,004 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Biogen in the second quarter valued at $322,640,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen News Summary

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Q3 results exceeded expectations: Biogen reported adjusted EPS of $2.62 versus the roughly $2.00 consensus estimate, while revenue rose 10.6% year over year to $2.80 billion, above forecasts near $2.63 billion. BIIB's Q3 Earnings Beat, New Drugs Aid Sales
• Positive Sentiment: Newer products are driving the turnaround: Growth-portfolio revenue jumped 49% to $1.26 billion, representing 63% of core pharmaceutical sales. Rare-disease revenue increased 27% to $676 million, helped by the first full quarter of contributions from Apellis products acquired in May. Biogen Q3 Revenue Rises 11%
• Positive Sentiment: 2026 guidance improved: Biogen raised the lower end of its full-year reported non-GAAP diluted EPS outlook to $12.20, while maintaining a range of $12.20 to $13.00. Management characterized the business as having returned to growth. Biogen Has Returned To Growth
• Positive Sentiment: Some analysts see additional upside: Baird raised its price target to $290, supporting the view that Biogen’s growth portfolio can offset erosion in its older multiple-sclerosis franchise. Baird Raises Biogen Price Target
• Neutral Sentiment: Headline profitability was weaker: Biogen posted a GAAP net loss of $20.6 million, or $0.14 per share, compared with $466.5 million of net income a year earlier. The loss primarily reflected $284 million in acquired in-process research and development, upfront and milestone expenses tied largely to the RayThera acquisition. Biogen Swings to Loss
• Negative Sentiment: Valuation and positioning could limit gains: Barclays raised its target to $230 but retained an “equal weight” rating, implying downside from the recent share level. Unusually heavy put-option activity also signals increased short-term hedging or bearish speculation. Barclays Biogen Ratings

Biogen Company Profile

Biogen Inc is a biotechnology company that discovers, develops and commercializes therapies for neurological and neurodegenerative diseases. Its areas of focus include multiple sclerosis, Alzheimer's disease, spinal muscular atrophy, amyotrophic lateral sclerosis and other serious medical conditions.

The company's portfolio includes multiple sclerosis treatments such as Tecfidera, Vumerity, Tysabri, Plegridy and Avonex, as well as Spinraza for spinal muscular atrophy. Biogen also markets Leqembi, an Alzheimer's disease treatment developed in collaboration with Eisai, and works with partners to advance additional therapies and biosimilars.

Biogen was founded in 1978 and is headquartered in Cambridge, Massachusetts.

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