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

Biogen (NASDAQ:BIIB) had its price objective raised by Needham & Company LLC from $256.00 to $290.00 in a research note published on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the biotechnology company’s stock.

A number of other equities analysts have also commented on the stock. Royal Bank Of Canada cut their price target on shares of Biogen from $260.00 to $256.00 and set an “outperform” rating on the stock in a report on Thursday, October 8th. Truist Financial upgraded Biogen from a “hold” rating to a “buy” rating and increased their price objective for the company from $190.00 to $235.00 in a report on Monday, July 13th. Mizuho increased their price objective on Biogen from $221.00 to $241.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Oppenheimer reaffirmed an “outperform” rating and set a $300.00 target price on shares of Biogen in a research report on Wednesday, July 29th. Finally, HSBC lifted their target price on Biogen from $165.00 to $175.00 and gave the stock a “reduce” rating in a report on Thursday, September 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Biogen presently has a consensus rating of “Moderate Buy” and a consensus target price of $251.00.

Biogen Stock Up 1.6%

NASDAQ:BIIB opened at $253.62 on Thursday. Biogen has a one year low of $146.52 and a one year high of $258.78. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.26. The company has a market cap of $37.49 billion, a PE ratio of 108.38, a P/E/G ratio of 2.97 and a beta of 0.09. The firm’s 50 day simple moving average is $227.08 and its 200 day simple moving average is $201.04.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings results on Wednesday, October 28th. The biotechnology company reported $2.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.63. Biogen had a net margin of 3.37% and a return on equity of 9.38%. The firm 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 company posted $4.81 EPS. The company’s revenue was up 10.6% on a year-over-year basis. On average, research analysts anticipate that Biogen will post 12.44 earnings per share for the current year.

Institutional Trading of Biogen

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BIIB. BlackRock Inc. bought a new stake in shares of Biogen in the 2nd quarter valued at $3,453,878,000. Primecap Management Co. CA acquired a new stake in shares of Biogen during the second quarter worth $3,274,304,000. Wellington Management Group LLP increased its position in shares of Biogen by 5.3% during the second quarter. Wellington Management Group LLP now owns 3,117,469 shares of the biotechnology company’s stock worth $673,560,000 after buying an additional 155,828 shares during the period. Amundi increased its position in shares of Biogen by 91.8% during the second quarter. Amundi now owns 1,516,831 shares of the biotechnology company’s stock worth $327,727,000 after buying an additional 726,004 shares during the period. Finally, Legal & General Group Plc bought a new position in Biogen during the second quarter worth $322,640,000. Institutional investors and hedge funds own 87.93% of the company’s stock.

Biogen News Roundup

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Better-than-expected Q3 results: Biogen reported adjusted earnings of $2.62 per share, above the $1.99 consensus estimate, while revenue reached $2.80 billion versus expectations of $2.63 billion. Revenue increased 10.6% year over year, supporting the view that the company is returning to growth. Biogen Reaches New 1-Year High on Better-Than-Expected Earnings
• Positive Sentiment: Analysts raised targets following the earnings beat: UBS lifted its target to $300, while Baird and Needham raised theirs to $290. Argus upgraded Biogen from “hold” to “buy” with a $280 target; RBC increased its target to $272 and retained an outperform rating. Canaccord Genuity also raised its target to $272 and assigned a buy rating. Analysts Increase Their Forecasts on Biogen After Upbeat Q3 Results
• Positive Sentiment: Growth narrative is improving: RBC analysts said Biogen’s quarterly performance suggests a growth-led comeback, potentially sustaining investor momentum after a period of declining results. Biogen Swings Back to Growth as Stock Momentum Could Continue
• Positive Sentiment: Alzheimer’s pipeline catalyst: Biogen plans to present long-term and real-world data at the November CTAD conference, including five-year Clarity AD extension data for lecanemab and additional Phase 2 CELIA data for diranersen. Positive results could strengthen confidence in the company’s Alzheimer’s portfolio and future growth prospects. Biogen to Present New Data Across Alzheimer’s Disease Portfolio at CTAD 2026
• Neutral Sentiment: Mixed analyst valuation signals: TD Cowen and Truist raised targets to $260, but those imply only modest upside from the current level. The concentration of target increases after earnings is supportive, although expectations are now higher.
• Negative Sentiment: Morgan Stanley remains cautious: The firm raised its target to $238 but kept an “equal weight” rating, indicating potential downside if Biogen’s growth recovery or pipeline data disappoints.

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.