TD Cowen Raises Biogen (BIIB) Price Target to $250
Key Points
- TD Cowen reiterated its Buy rating on Biogen Inc. on October 21, 2026, lifting its price target to $250 from $225.
- TD Cowen's $250 price target implies 3.81% upside from Biogen Inc.'s ($BIIB) current $240.81 share price.
- Biogen shares recently traded around $240.81, sitting comfortably above both their 50-day and 200-day moving averages ahead of earnings.
- Wall Street currently maintains a consensus Buy rating on the stock with 32 analyst opinions tracked.
Since the rating, $BIIB is up 3.8% to date (from the $240.98 close on Oct 21, 2026).
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On October 21, 2026, TD Cowen maintained its Buy rating on Biogen Inc. BIIB and raised its price target from $225.00 to $250.00. The update from the research firm arrives just a week ahead of the biotechnology company's next scheduled financial results. TD Cowen's decision points to steady confidence in the drug maker's portfolio of specialized treatments.
BIIB
Biogen Inc.
TD Cowen's Call on Biogen Inc.
In its research note issued on October 21, 2026, TD Cowen kept a Buy rating on the shares while bumping up its target by $25. The updated target sits not far from where the shares have recently traded as the market weighs upcoming catalysts for the Cambridge-based firm.
Other Institutional Activity in Biogen Inc.
Primecap Management Company held a major stake in the drug maker, reporting 15,154,606 shares worth about $3,796,531,959 in its report for the period ending June 30, 2026. The fund grew its holdings by 396,980 shares, marking a 2.7% increase in its position.
Biogen Inc. Stock Down 0.1%
Biogen shares recently traded around $240.81 as of October 22, 2026, down about 0.1% from an event close of $240.98 on October 21, 2026. The stock sits below its 52-week high of $246.54 and far above its 52-week low of $138.00. It also trades above both its 50-day moving average of $221.68 and its 200-day moving average of $198.77.
$BIIB price target
Biogen Inc. daily closes and this analyst's $250 target. Not advice.
Recent Earnings
Biogen reported trailing-twelve-month revenue of $10,027,899,904 and earnings of $5.63 per share. The company posted a net profit margin of 8.3% and a return on equity of 4.6%, reflecting steady profitability in its core therapeutic markets. Investors will see the next earnings update on October 28, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
5 target raises vs 1 cuts.
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EPS & revenue
EPS beat estimates by 26.3%. Revenue beat estimates by 7.7%.
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Profit surprise
EBITDA missed by 7 percent. Operating income missed by 14 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
5 target raises, 1 target cut.
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Earnings quality
Gross margin down 2.9 points. Operating margin down 14.1 points. Positive free cash flow.
Earnings Call Summary
Biogen had a very strong first quarter with growth products generating 851 million dollars, up 12 percent year-over-year. LEQEMBI sales surged 74 percent to 168 million dollars, benefiting from expansion in the U.S., Japan, and China. The company highlighted real-world evidence showing nearly 80 percent of LEQEMBI patients remain on therapy at 18 months, supporting the durability of treatment. High-dose SPINRAZA launched successfully with 20 percent of U.S. patients already switching, and the company is preparing for multiple pipeline readouts starting this year, including data on tau-targeting drug BIIB080 and lupus candidate Litifilimab.
Guidance Biogen reaffirmed its full-year guidance, confident in underlying business strength. The company expects to close the Apellis acquisition in the second quarter and will provide combined guidance after close. Management noted about 600 million dollars of contract manufacturing revenue expected this year, roughly two-thirds in the first half. They anticipate the acquisition will be accretive to earnings per share in 2027.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Biogen does not currently pay a dividend, maintaining a payout ratio of 0.0% as management retains capital to fund ongoing drug research and development.
Insider Buying and Selling at Biogen Inc.
Company insiders have made a few transactions over the past year. Priya Singhal sold 2,660 shares on February 9, 2026, at an average price of $199.83 for a total value of $531,548. Nicole Murphy bought 3 shares on February 12, 2026, at $195.04 per share. Later, Lloyd B. Minor sold 1,186 shares on August 4, 2026.
Analysts Set New Price Targets
Wall Street firms have adjusted their views on the stock through October. RBC Capital maintained an Outperform rating on October 8, 2026, lowering its target from $260.00 to $256.00. UBS kept a Buy rating on October 9, 2026, raising its target from $240.00 to $270.00. JP Morgan upgraded the stock to Overweight on October 12, 2026, setting a target of $300.00. Wells Fargo maintained an Overweight rating on October 20, 2026, raising its target to $310.00 from $250.00. Across 32 analyst opinions, the stock carries a consensus Buy recommendation and a mean price target of $247.32.
About Biogen Inc.
Biogen Inc. discovers, develops, and delivers therapies focused on severe neurological and rare diseases. The company works to bring advanced medicines to patients around the world.
Bottom Line
Investors will look ahead to the next earnings report scheduled for October 28, 2026, to gauge ongoing financial progress. Market participants will also monitor whether the stock can break through its 52-week high of $246.54.
Related Filing Alerts
Source: TD Cowen's rating change on $BIIB (Oct 21, 2026). Written by software, not financial advice. How we make alerts