Biogen (NASDAQ:BIIB) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Biogen from “strong sell” to “hold.” Despite the change, analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $221.11.
• Biogen shares opened at $209.43, up 1.9%, while the company reported quarterly adjusted EPS of $3.60 and revenue of $2.74 billion—both above analyst expectations.
• Institutional investors own approximately 87.93% of Biogen’s stock, led by Vanguard, Geode Capital Management and Norges Bank, underscoring strong institutional participation.

Biogen (NASDAQ:BIIB - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Tuesday,Zacks.com reports.

A number of other analysts also recently weighed in on BIIB. Weiss Ratings upgraded shares of Biogen from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 1st. JPMorgan Chase & Co. boosted their price objective on shares of Biogen from $175.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, April 23rd. Canaccord Genuity Group upped their target price on shares of Biogen from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Wednesday, April 1st. Cantor Fitzgerald reiterated an "overweight" rating on shares of Biogen in a report on Monday, June 22nd. Finally, HC Wainwright reissued a "buy" rating on shares of Biogen in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $221.11.

Biogen Stock Up 1.9%

Shares of Biogen stock opened at $209.43 on Tuesday. The business has a fifty day simple moving average of $200.68 and a 200 day simple moving average of $190.37. The stock has a market cap of $30.92 billion, a PE ratio of 22.47 and a beta of 0.16. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34. Biogen has a 12 month low of $124.56 and a 12 month high of $219.72.

Biogen (NASDAQ:BIIB - Get Free Report) last released its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.66. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.46 billion. Biogen had a return on equity of 12.83% and a net margin of 13.81%.The company's quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Research analysts predict that Biogen will post 11.28 EPS for the current year.

Institutional Trading of Biogen

Several hedge funds have recently bought and sold shares of BIIB. Vanguard Group Inc. increased its position in shares of Biogen by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 17,447,092 shares of the biotechnology company's stock worth $3,070,514,000 after acquiring an additional 157,857 shares in the last quarter. Geode Capital Management LLC lifted its position in Biogen by 3.2% in the 4th quarter. Geode Capital Management LLC now owns 4,199,399 shares of the biotechnology company's stock valued at $736,435,000 after acquiring an additional 130,618 shares in the last quarter. Norges Bank acquired a new position in Biogen in the 4th quarter worth $464,408,000. Invesco Ltd. boosted its stake in Biogen by 4.2% in the 3rd quarter. Invesco Ltd. now owns 2,418,127 shares of the biotechnology company's stock worth $338,731,000 after purchasing an additional 98,001 shares during the period. Finally, Morgan Stanley increased its holdings in Biogen by 3.3% during the 4th quarter. Morgan Stanley now owns 2,325,013 shares of the biotechnology company's stock worth $409,180,000 after purchasing an additional 73,478 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen reported second-quarter revenue of approximately $2.74 billion, up 3.4% year over year and above the roughly $2.46 billion consensus estimate. Adjusted EPS of $3.60 also exceeded expectations, supporting the positive market reaction. Reuters article
• Positive Sentiment: The Growth Portfolio generated $1.06 billion in revenue, up 24% year over year and ahead of the legacy multiple sclerosis portfolio. SKYCLARYS, ZURZUVAE, and products acquired through the Apellis transaction—including SYFOVRE and EMPAVELI—provided important growth contributions. The Pharma Letter article
• Positive Sentiment: Biogen raised its full-year 2026 revenue outlook to mid-single-digit growth versus 2025, reflecting momentum in newer drugs and the Apellis acquisition. Analysts also highlighted pipeline progress, including encouraging early Alzheimer’s data for diranersen. Seeking Alpha article
• Neutral Sentiment: Leqembi sales continued to grow, reaching 29.3 billion yen globally in the quarter, but narrowly missed some expectations. The Alzheimer’s drug remains strategically important, although its near-term contribution is being weighed against commercialization costs and competition. Leqembi sales article
• Negative Sentiment: GAAP net income fell sharply to $97.5 million from $634.8 million a year earlier, while reported EPS declined to $0.66 from $5.47. Biogen’s updated 2026 non-GAAP EPS guidance of $12 to $13 is below the prior consensus estimate of $13.45, tempering the otherwise strong earnings reaction. The Wall Street Journal article
• Negative Sentiment: Legacy multiple sclerosis products remained under pressure, highlighting Biogen’s continuing dependence on successful execution of its newer rare-disease, Alzheimer’s, and acquired-product portfolio.

Biogen Company Profile

Biogen Inc is a multinational biotechnology company focused on discovering, developing and delivering therapies for neurological and neurodegenerative diseases. Headquartered in Cambridge, Massachusetts, the company has a longstanding emphasis on neuroscience, with research and commercial activities spanning multiple therapeutic areas including multiple sclerosis, spinal muscular atrophy and Alzheimer's disease. Biogen was founded in 1978 and has grown into a global biopharmaceutical firm with operations and commercial presence across North America, Europe, Japan and other international markets.

The company's marketed portfolio has historically included several well-known therapies for multiple sclerosis such as Avonex, Tysabri and Tecfidera, and it has pursued treatments for rare neurological conditions and genetic neuromuscular disorders.

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