Are Wall Street Analysts Bullish on Biogen Stock?

Cambridge, Massachusetts-based Biogen Inc. (BIIB) discovers, develops, manufactures, and delivers therapies in the United States and internationally. The company has a market cap of $28.1 billion and focuses on developing innovative therapies for treating serious neurological and neurodegenerative diseases, including its core growth areas of multiple sclerosis (MS) and neuroimmunology, Alzheimer's disease (AD) and dementia, and others. 

BIIB shares have rallied the broader market over the past year, surged 47.2% compared to the S&P 500 Index ($SPX) 23.3% surge. Moreover, in 2026, the stock has grown nearly 8.3%, outperforming the SPX’s 7.4% rise as well.      

Focusing on its industry benchmark, the State Street Healthcare Select Sector SPDR ETF (XLV) has risen 9.6% over the past year, underperforming the stock. In 2026, XLV has declined 4.8% and has also lagged behind the stock.      

On Apr. 29, BIIB stock rose 6% following the release of its better-than-expected Q1 2026 earnings. The company’s revenue rose 1.9% from the prior year’s quarter to $2.5 billion and surpassed the Street’s estimates. Moreover, its adjusted EPS came in at $3.57, also coming in on top of Wall Street’s forecasts.

For the current year, which ends in December, analysts expect BIIB’s EPS to fall 7.2% to $14.18 on a diluted basis. The company surpassed the consensus estimate in each of the last four quarters.

Among the 35 analysts covering BIIB stock, the consensus is a “Moderate Buy.” That’s based on 18 “Strong Buy” ratings, one “Moderate Buy,” and 16 “Holds.”  

The configuration has become much more bullish over the past month.    

On May 15, Evercore ISI analyst Umer Raffat reinstated an “Outperform” rating for Biogen. The report did not include any revisions to the price targets. 

BIIB’s mean price target of $218.97 indicates a premium of 14.9% from the current market prices. Its Street-high target of $300 suggests a robust 57.4% upside potential from current price levels.