TD Cowen Issues Positive Forecast for Biogen (NASDAQ:BIIB) Stock Price

Key Points

• TD Cowen raised Biogen’s price target from $250 to $260 and maintained a “buy” rating, implying roughly 3.2% upside from the stock’s reported price.
• Analyst sentiment is broadly positive: Biogen has a consensus “Moderate Buy” rating and a $249.93 average target, with several firms recently raising targets or upgrading their recommendations.
• Biogen reported quarterly adjusted EPS of $2.62 and revenue of $2.80 billion, beating expectations, while revenue increased 10.6% year over year; institutional investors own nearly 88% of its shares.

Biogen (NASDAQ:BIIB - Get Free Report) had its price target hoisted by investment analysts at TD Cowen from $250.00 to $260.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. TD Cowen's price objective would indicate a potential upside of 3.20% from the company's current price.

A number of other analysts have also recently commented on the stock. Piper Sandler reiterated an "overweight" rating and issued a $245.00 target price (up from $225.00) on shares of Biogen in a research note on Thursday, September 3rd. Weiss Ratings upgraded Biogen from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, September 24th. Argus raised Biogen from a "hold" rating to a "buy" rating and set a $280.00 target price for the company in a report on Thursday. UBS Group set a $300.00 target price on Biogen in a research report on Thursday. Finally, Guggenheim increased their price target on shares of Biogen from $260.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Biogen has a consensus rating of "Moderate Buy" and a consensus target price of $249.93.

Biogen Trading Up 3.2%

BIIB stock traded up $7.89 during midday trading on Thursday, reaching $251.94. The company's stock had a trading volume of 295,272 shares, compared to its average volume of 1,211,951. The firm has a market capitalization of $37.23 billion, a price-to-earnings ratio of 44.60, a PEG ratio of 2.99 and a beta of 0.09. Biogen has a 1 year low of $138.00 and a 1 year high of $258.78. The stock has a fifty day simple moving average of $225.73 and a two-hundred day simple moving average of $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 (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The biotechnology company reported $2.62 EPS for the quarter, beating the consensus estimate of $1.99 by $0.63. Biogen had a return on equity of 11.18% and a net margin of 8.32%. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter last year, the firm posted $4.81 earnings per share. The business's revenue for the quarter was up 10.6% on a year-over-year basis. On average, equities research analysts predict that Biogen will post 12.29 EPS for the current year.

Institutional Investors Weigh In On Biogen

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

Key Biogen News

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Q3 earnings and revenue beat expectations: Biogen reported adjusted EPS of $2.62 versus the roughly $1.99–$2.06 consensus and revenue of $2.80 billion versus estimates near $2.63 billion. Revenue rose 10.6% year over year, while growth-portfolio revenue jumped 49% to $1.26 billion. Biogen quarterly earnings report
• Positive Sentiment: Growth outlook improved: Biogen raised the lower end of its full-year 2026 adjusted EPS guidance to $12.20, with a range of $12.20 to $13.00. Rare-disease revenue increased 27%, and the company benefited from the first full quarter of products acquired through its Apellis transaction. BIIB Q3 earnings and guidance
• Positive Sentiment: Analyst sentiment strengthened: Needham raised its price target to $290 from $256, Baird raised its target to $290 from $250 and upgraded its view to “outperform,” Argus upgraded Biogen from “hold” to “buy” with a $280 target, and Truist reaffirmed “buy” while lifting its target to $260 from $235. Analysts raise Biogen forecasts
• Positive Sentiment: Alzheimer’s pipeline data could provide another catalyst: Biogen plans to present long-term and real-world data for lecanemab, as well as Phase 2 CELIA data for investigational diranersen, at the November CTAD conference. Biogen CTAD 2026 data announcement
• Neutral Sentiment: Risks remain: Biogen posted a $20.6 million GAAP loss, largely because of acquisition-related research and development charges, including $284 million tied primarily to the RayThera acquisition. Barclays raised its target to $230 but maintained an “equal weight” rating, while unusually heavy put-option activity signals some hedging or bearish positioning. Biogen GAAP loss report

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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