TD Cowen maintains Biogen at Buy, raises price target to $260 from $250

TD Cowen analyst Phil Nadeau maintained a Buy rating on Biogen (BIIB) with a $250.00 price target. Biogen's shares closed at $244.05. The company reported Q3 revenue of $2.8B and a net loss of $20.6M, down from last year's $2.45B revenue and $466.5M profit. Insider sentiment is negative, with recent sales by directors.

Freedom Broker raised its price target on Biogen (BIIB) to $275 from $255, citing strong quarterly results and resilient portfolio performance. The stock is near its 52-week high of $258.78. Biogen reported adjusted earnings of $2.62 per share on revenue of $2.8 billion, exceeding expectations. Several analysts have revised earnings upwards and raised price targets.

Biogen (BIIB) will present new Alzheimer's data at CTAD 2026, including diranersen's 96-week extension and lecanemab's 5-year open-label extension. Diranersen targets tau protein, while lecanemab focuses on amyloid. Biogen aims to showcase long-term and real-world evidence for its Alzheimer's portfolio.

BofA raised its Biogen (BIIB) price target to $257, citing Q3 results that exceeded revenue and EPS estimates. The company also increased its 2026 EPS guidance. Biogen's stock fell 3% but remains near its 52-week high. Baird also raised its price target to $290, citing strong earnings and growth portfolio strength.

Biogen (BIIB) reported Q3 revenue of $2.8B, up 11% YoY, beating estimates. Adjusted EPS of $2.62 also surpassed expectations. The company raised its full-year EPS guidance to $12.20-$13.00. Growth products, including rare disease and Alzheimer's drugs, drove revenue growth, while MS drugs declined. R&D and SG&A expenses increased significantly. Biogen expects mid-single-digit revenue growth in 2026.

Biogen Inc (BIIB) reported Q3 2026 revenue up 11% to $3.2B, but GAAP EPS was a loss of $0.14 due to acquisition-related charges. VUMERITY revenue declined 11% YoY, while Apellis acquisition increased OPEX by 27%. Biogen updated its PREVAIL trial design to a one-year eGFR endpoint. Management discussed market potential for felzartamab in AMR and litifilimab in SLE/CLE, and noted strong uptake of IQLIK and SPINRAZA high dose.