JP Morgan Raises Biogen (BIIB) Price Target to $300

JP Morgan has raised its rating on Biogen Inc. to Overweight, setting a new target price of $300, a 28.46% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:14 PM EDT

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JP Morgan raised its price target on Biogen Inc. ($BIIB) to $300 from $210 on October 12, 2026, and rates the stock "Overweight".

Since the rating, $BIIB is up 1.4% to date (from the $229.41 close on Oct 12, 2026).

BIIB Biogen Inc.

$232.65 +30.83% year to date

Daily close · Oct 16, 2026

Key Points

On October 12, 2026, JP Morgan upgraded Biogen Inc. (NasdaqGS: BIIB) to an Overweight rating with a price target of $300, up from $210.
JP Morgan's $300 price target implies 28.46% upside from Biogen Inc.'s ($BIIB) current $233.54 share price.
As of October 16, 2026, Biogen shares were recently trading at $233.54, which is about 22.2% below the new target price.
The company is expected to report its next earnings on October 28, 2026, following a year-over-year revenue growth of 3.4%.

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JP Morgan has raised its rating on Biogen Inc. (NasdaqGS: BIIB) to Overweight on October 12, 2026, setting a new price target of $300. This is an increase from the previous target of $210. The recent share price of Biogen was $233.54 as of October 16, 2026, placing it about 22.2% below the new target.

Other Institutional Activity in Biogen Inc.

FMR, LLC holds a significant position in Biogen, with 18,217,239 shares valued at approximately $4.24 billion after increasing its stake by 5,409,844 shares, a 42.2% rise. Blackrock Inc. has 15,985,736 shares worth about $3.72 billion, having added 11,182 shares, a slight increase of 0.1%. Primecap Management Company owns 15,154,606 shares valued at roughly $3.53 billion after a 2.7% increase of 396,980 shares. Vanguard Capital Management LLC has 9,651,117 shares worth $2.25 billion, increasing its holdings by 113,498 shares, a 1.2% rise. State Street Corporation holds 7,344,327 shares valued at about $1.71 billion, with a 2.5% increase of 176,333 shares.

Biogen Inc. Stock Down 0.8%

Biogen shares were recently trading at $233.54, reflecting a notable gap from the new analyst target of $300. The stock's performance will be closely watched as it approaches its next earnings report on October 28, 2026.

12-month forecast

$BIIB price target

Biogen Inc. daily closes and this analyst's $300 target. Not advice.

Recent Earnings

Biogen reported trailing twelve-month revenue of approximately $10.03 billion, with an earnings per share (EPS) of $5.62. The company's net margin stands at 8.3%, and its return on equity (ROE) is 4.6%. This performance underlines the company's steady growth trajectory despite the challenges in the healthcare sector.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

B- 71/100

Reported Apr 29, 2026

Forward outlook
5 target raises vs 1 cuts.
EPS & revenue
EPS beat estimates by 26.3%. Revenue beat estimates by 7.7%.
Profit surprise
EBITDA missed by 7 percent. Operating income missed by 14 percent.
Pre-earnings setup
Expectations were about average.
Analyst signal
5 target raises, 1 target cut.
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.

Insider Buying and Selling at Biogen Inc.

Insider trading activity includes Nicole Murphy, an officer, who bought 3 shares at an average price of $195.04 on February 12, 2026, totaling $585. Additionally, Priya Singhal, another officer, sold 2,660 shares at an average price of $199.83 on February 9, 2026, for a total of $531,548. Lloyd B. Minor, a director, sold 1,186 shares on August 4, 2026, valued at $239,750, although no price was available for this transaction.

Analysts Set New Price Targets

On October 12, 2026, JP Morgan upgraded its rating on Biogen to Overweight, raising the price target to $300 from a previous $210. This follows several recent ratings, including Piper Sandler, which reiterated an Overweight rating with a target of $245, and HSBC, which maintained a Reduce rating with a target of $175.

About Biogen Inc.

Biogen Inc. is a biotechnology company based in Cambridge, MA, that focuses on discovering, developing, and manufacturing therapies for neurological diseases. The company's innovative approach is significant as it continues to expand its portfolio in the competitive healthcare landscape.

Bottom Line

Investors will be looking forward to Biogen's upcoming earnings report on October 28, 2026, as well as any further analyst updates. With JP Morgan's recent upgrade, the market will be keen to see how Biogen performs against its new price target of $300.