Biogen (NASDAQ:BIIB) Price Target Raised to $290.00

Key Points

• Needham raised Biogen’s price target from $256 to $290 and maintained a “buy” rating, implying 18.83% potential upside. Analysts overall hold a “Moderate Buy” consensus with an average target of $245.61.
• Biogen exceeded quarterly expectations, reporting adjusted EPS of $2.62 versus $1.99 expected and revenue of $2.80 billion, up 10.6% year over year. Newer growth products helped offset pressure on its legacy multiple-sclerosis business.
• Despite strong adjusted results, Biogen posted a $20.6 million GAAP net loss, partly due to acquisition-related research and development expenses. Barclays retained an “equal weight” rating, highlighting potential valuation and near-term positioning risks.

Biogen (NASDAQ:BIIB - Get Free Report) had its price objective boosted by Needham & Company LLC from $256.00 to $290.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the biotechnology company's stock. Needham & Company LLC's price target would suggest a potential upside of 18.83% from the stock's previous close.

Several other equities analysts also recently weighed in on the company. Jefferies Financial Group restated a "buy" rating on shares of Biogen in a report on Monday, July 13th. Stifel Nicolaus set a $242.00 price target on Biogen in a research note on Thursday, September 10th. Morgan Stanley raised their price objective on shares of Biogen from $222.00 to $231.00 and gave the stock an "equal weight" rating in a report on Thursday, July 30th. Zacks Research upgraded Biogen from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 28th. Finally, Wolfe Research upgraded shares of Biogen from a "peer perform" rating to an "outperform" rating and set a $300.00 price target for the company in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $245.61.

Biogen Stock Down 3.4%

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

Biogen (NASDAQ:BIIB - Get Free Report) last issued its quarterly earnings data on Wednesday, October 28th. The biotechnology company reported $2.62 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.63. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.63 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%. The business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $4.81 EPS. Sell-side analysts anticipate that Biogen will post 12.29 EPS for the current year.

Hedge Funds Weigh In On Biogen

A number of institutional investors have recently modified their holdings of the stock. Bell Investment Advisors Inc purchased a new position in Biogen during the second quarter worth about $27,000. Align Financial LLC boosted its position in shares of Biogen by 339.3% during the 3rd quarter. Align Financial LLC now owns 123 shares of the biotechnology company's stock worth $28,000 after purchasing an additional 95 shares during the period. Canton Hathaway LLC acquired a new stake in Biogen in the 3rd quarter valued at approximately $31,000. Ashurst Perkins Coie Trust Co raised its position in Biogen by 92.2% in the third quarter. Ashurst Perkins Coie Trust Co now owns 173 shares of the biotechnology company's stock valued at $39,000 after purchasing an additional 83 shares during the period. Finally, Balance Wealth Partners LLC acquired a new position in Biogen during the third quarter worth $39,000. 87.93% of the stock is owned by hedge funds and other institutional investors.

Key Biogen News

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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