Morgan Stanley Raises Biogen (NASDAQ:BIIB) Price Target to $231.00

Key Points

• Morgan Stanley raised Biogen’s price target from $222 to $231 while maintaining an “equal weight” rating, implying approximately 11.8% potential upside. The stock has an overall “Moderate Buy” consensus and an average target of $223.36.
• Biogen reported second-quarter adjusted EPS of $3.60 and revenue of $2.74 billion, beating analyst expectations, with revenue up 3.4% year over year as newer medicines helped offset declining legacy multiple sclerosis products.
• Despite the earnings beat, GAAP net income fell sharply year over year, and the company’s $12–$13 adjusted EPS guidance for 2026 is below analyst consensus, highlighting concerns about profitability and future growth.

Biogen (NASDAQ:BIIB - Get Free Report) had its price objective raised by investment analysts at Morgan Stanley from $222.00 to $231.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the biotechnology company's stock. Morgan Stanley's target price points to a potential upside of 11.77% from the company's previous close.

A number of other brokerages have also commented on BIIB. TD Cowen increased their price objective on Biogen from $215.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Biogen in a research report on Monday, June 22nd. Rothschild & Co Redburn increased their price objective on shares of Biogen from $180.00 to $190.00 in a research note on Thursday, April 30th. Zacks Research raised shares of Biogen from a "strong sell" rating to a "hold" rating in a report on Tuesday. Finally, Argus upgraded Biogen to a "hold" rating in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $223.36.

Biogen Stock Performance

BIIB traded down $2.55 on Thursday, hitting $206.68. 392,660 shares of the company traded hands, compared to its average volume of 1,290,783. The company has a 50 day moving average of $200.68 and a 200-day moving average of $190.37. Biogen has a 12-month low of $124.56 and a 12-month high of $219.72. The company has a quick ratio of 2.41, a current ratio of 3.06 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $30.51 billion, a PE ratio of 22.22 and a beta of 0.16.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its earnings results on Wednesday, July 29th. The biotechnology company reported $3.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.94 by $0.66. The business had revenue of $2.74 billion during 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 revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.47 earnings per share. Biogen has set its FY 2026 guidance at 12.000-13.000 EPS. Sell-side analysts anticipate that Biogen will post 11.28 earnings per share for the current year.

Hedge Funds Weigh In On Biogen

Institutional investors have recently modified their holdings of the business. Rothschild Investment LLC lifted its holdings in Biogen by 12.3% in the 4th quarter. Rothschild Investment LLC now owns 513 shares of the biotechnology company's stock valued at $90,000 after purchasing an additional 56 shares in the last quarter. Meeder Advisory Services Inc. grew its stake in Biogen by 1.2% during the 1st quarter. Meeder Advisory Services Inc. now owns 4,721 shares of the biotechnology company's stock worth $866,000 after buying an additional 57 shares during the last quarter. Kera Capital Partners Inc. increased its position in Biogen by 3.5% in the 1st quarter. Kera Capital Partners Inc. now owns 1,723 shares of the biotechnology company's stock valued at $316,000 after acquiring an additional 58 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Biogen by 1.5% in the first quarter. Parallel Advisors LLC now owns 4,367 shares of the biotechnology company's stock valued at $801,000 after acquiring an additional 65 shares in the last quarter. Finally, Itau Unibanco Holding S.A. raised its position in Biogen by 24.4% in the fourth quarter. Itau Unibanco Holding S.A. now owns 337 shares of the biotechnology company's stock worth $59,000 after acquiring an additional 66 shares in the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen News Roundup

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen reported second-quarter revenue of $2.74 billion, up 3.4% year over year and ahead of the $2.46 billion consensus estimate. Adjusted EPS of $3.60 also exceeded expectations, helped by a 24% increase in the Growth Portfolio and contributions from recently acquired Apellis products. Reuters report on Biogen earnings
• Positive Sentiment: Management raised its 2026 revenue outlook to mid-single-digit growth, while newer medicines—including rare-disease treatments and the Alzheimer’s drug Leqembi—are increasingly offsetting declines in legacy multiple sclerosis products. Analysts at Piper Sandler reaffirmed a Buy rating, and Needham maintained its $256 price target. Seeking Alpha report on Biogen outlook
• Neutral Sentiment: Wedbush raised its price target from $201 to $215 but retained a Neutral rating, indicating limited conviction despite a potentially higher valuation. Zacks also upgraded the stock from Strong Sell to Hold. Benzinga analyst update
• Negative Sentiment: GAAP net income plunged to $97.5 million from $634.8 million a year earlier, and diluted EPS fell to $0.66 from $4.33. The decline reflects acquisition-related and other costs, raising concerns that underlying profitability may be peaking even as revenue grows. Yahoo Finance analysis of Biogen profitability
• Negative Sentiment: Biogen’s 2026 adjusted EPS guidance of $12 to $13 is below the roughly $13.45 analyst consensus, and reports characterized the update as a reduction to the full-year profit outlook. Legacy MS sales remain under pressure, while Leqembi revenue narrowly missed expectations. Wall Street Journal report on Biogen guidance

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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