Canaccord Genuity Group Forecasts Strong Price Appreciation for Biogen (NASDAQ:BIIB) Stock

Key Points

• Canaccord Genuity raised Biogen’s price target from $248 to $272 and maintained a “buy” rating, implying approximately 8.95% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and average price target of $251, though recommendations range from “strong buy” to “sell.”
• Biogen exceeded quarterly expectations with $2.62 in EPS and $2.80 billion in revenue, while institutional investors own approximately 87.93% of the stock.

Biogen (NASDAQ:BIIB - Get Free Report) had its price objective upped by stock analysts at Canaccord Genuity Group from $248.00 to $272.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a "buy" rating on the biotechnology company's stock. Canaccord Genuity Group's price objective points to a potential upside of 8.95% from the company's previous close.

BIIB has been the topic of a number of other research reports. Wall Street Zen lowered Biogen from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Jefferies Financial Group reiterated a "buy" rating on shares of Biogen in a research report on Monday, July 13th. Wolfe Research raised shares of Biogen from a "peer perform" rating to an "outperform" rating and set a $300.00 price target for the company in a report on Thursday, August 13th. Guggenheim upped their price target on Biogen from $260.00 to $280.00 and gave the company a "buy" rating in a research note on Tuesday, July 21st. Finally, BMO Capital Markets reaffirmed a "market perform" rating and issued a $220.00 price objective on shares of Biogen in a research note on Monday, October 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $251.00.

Biogen Price Performance

NASDAQ BIIB traded up $5.60 on Thursday, reaching $249.65. The company's stock had a trading volume of 1,157,741 shares, compared to its average volume of 1,216,170. Biogen has a 52 week low of $138.00 and a 52 week high of $258.78. The firm has a market cap of $36.89 billion, a PE ratio of 44.19, a price-to-earnings-growth ratio of 2.99 and a beta of 0.09. The business has a 50-day moving average price of $225.73 and a 200 day moving average price of $200.39. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.39.

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

Institutional Investors Weigh In On Biogen

A number of hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Biogen in the 3rd quarter worth $15,444,000. Profund Advisors LLC increased its stake in shares of Biogen by 38.7% during the 3rd quarter. Profund Advisors LLC now owns 11,876 shares of the biotechnology company's stock worth $2,683,000 after purchasing an additional 3,316 shares during the last quarter. ProShare Advisors LLC increased its position in Biogen by 1.5% in the third quarter. ProShare Advisors LLC now owns 35,671 shares of the biotechnology company's stock worth $8,057,000 after buying an additional 544 shares during the last quarter. Vise Technologies Inc. increased its holdings in Biogen by 14.7% in the 3rd quarter. Vise Technologies Inc. now owns 7,601 shares of the biotechnology company's stock worth $1,717,000 after acquiring an additional 974 shares during the last quarter. Finally, Grandfield & Dodd LLC bought a new stake in shares of Biogen in the third quarter valued at approximately $206,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

More 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 approximately $2.00 consensus estimate, while revenue rose 10.6% year over year to $2.80 billion, ahead of expectations near $2.63 billion. Analyst forecasts after Biogen Q3 results
• Positive Sentiment: Newer products are driving growth. Growth Portfolio revenue jumped 49% to $1.26 billion, supported by rare-disease medicines and the first full-quarter contribution from Apellis products. Management also raised the lower end of its 2026 adjusted EPS outlook to $12.20–$13.00. Biogen Q3 revenue and guidance
• Positive Sentiment: Analyst sentiment improved materially. Argus upgraded BIIB to Buy with a $280 target, while Needham and Baird raised targets to $290. UBS lifted its target to $300, RBC to $272, and TD Cowen to $260; RBC also said the growth rebound could support continued momentum. UBS Biogen price target
• Positive Sentiment: Upcoming Alzheimer’s data could provide another catalyst. Biogen plans to present long-term and real-world data for lecanemab, along with Phase 2 CELIA data for investigational drug diranersen, at the CTAD conference in November. Biogen CTAD 2026 announcement
• Neutral Sentiment: Morgan Stanley raised its target to $238 but retained an Equal Weight rating, indicating some analysts believe much of the improvement is already reflected in the stock.
• Negative Sentiment: Biogen swung to a $20.6 million GAAP loss, primarily because of acquisition-related research and development charges. EPS also declined from $4.81 a year earlier, and unusually heavy put-option activity signals some near-term investor caution. Biogen quarterly loss

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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