Biogen (NASDAQ:BIIB) Upgraded to Buy at Argus

Biogen (NASDAQ:BIIB) was upgraded by investment analysts at Argus from a “hold” rating to a “buy” rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $280.00 target price on the biotechnology company’s stock. Argus‘s target price would suggest a potential upside of 14.73% from the stock’s previous close.

A number of other brokerages have also weighed in on BIIB. Jefferies Financial Group restated a “buy” rating on shares of Biogen in a research note on Monday, July 13th. Wells Fargo & Company upped their price target on shares of Biogen from $250.00 to $310.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 20th. JPMorgan Chase & Co. raised shares of Biogen from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $210.00 to $300.00 in a report on Monday, October 12th. Piper Sandler reissued an “overweight” rating and set a $245.00 price objective (up from $225.00) on shares of Biogen in a report on Thursday, September 3rd. Finally, Needham & Company LLC raised their price objective on shares of Biogen from $256.00 to $290.00 and gave the company a “buy” rating in a research report on Thursday. One 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $246.79.

Biogen Stock Down 3.4%

NASDAQ BIIB opened at $244.05 on Thursday. The stock’s 50 day simple moving average is $225.73 and its 200 day simple moving average is $200.39. Biogen has a one year low of $138.00 and a one year high of $258.78. The firm has a market cap of $36.06 billion, a PE ratio of 43.19, a price-to-earnings-growth ratio of 2.99 and a beta of 0.09. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.87 and a quick ratio of 1.26.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data 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. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.63 billion. Biogen had a return on equity of 11.18% and a net margin of 8.32%. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.81 EPS. As a group, sell-side analysts forecast that Biogen will post 12.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Biogen

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Biogen in the second quarter valued at about $3,453,878,000. Primecap Management Co. CA bought a new position in shares of Biogen during the second quarter worth about $3,274,304,000. Wellington Management Group LLP grew its holdings 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 in the last quarter. Amundi raised its position in Biogen by 91.8% in the 2nd quarter. Amundi now owns 1,516,831 shares of the biotechnology company’s stock valued at $327,727,000 after buying an additional 726,004 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in Biogen in the 2nd quarter valued at approximately $322,640,000. 87.93% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Biogen

Here are the key news stories impacting Biogen this week:

• Positive Sentiment: Biogen reported adjusted third-quarter earnings of $2.62 per share, well above analyst expectations of roughly $1.99–$2.06, while revenue rose 10.6% year over year to $2.80 billion, also exceeding estimates. Biogen third-quarter earnings report
• Positive Sentiment: The newer growth portfolio continued to offset pressure on older multiple sclerosis products, with revenue increasing 49% to $1.26 billion. Rare-disease revenue rose 27% to $676 million, helped in part by the first full quarter of products acquired through Apellis. Biogen Q3 revenue and earnings update
• Positive Sentiment: Biogen raised the lower end of its 2026 adjusted EPS guidance to $12.20, producing a new range of $12.20 to $13.00. Needham and Baird subsequently raised their price targets to $290 and assigned bullish “buy” and “outperform” ratings, respectively. Analyst forecasts for Biogen
• Neutral Sentiment: Biogen plans to present additional Alzheimer’s disease data at CTAD 2026, including long-term CELIA study data for diranersen and extended real-world and clinical evidence for lecanemab. The presentations could provide future pipeline catalysts, but the data will not affect near-term earnings. Biogen CTAD 2026 announcement
• Negative Sentiment: Despite the adjusted-profit beat, Biogen posted a GAAP net loss of $20.6 million, or $0.14 per share, compared with a profit of $466.5 million a year earlier. The loss primarily reflected transaction-related expenses, including $284 million of acquired research and development costs tied largely to the RayThera acquisition. Biogen GAAP loss report
• Negative Sentiment: Barclays raised its price target to $230 but retained an “equal weight” rating, leaving its target below the current trading level. Unusually heavy put-option activity also indicated increased near-term hedging or bearish speculation. Barclays Biogen rating

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.