Biogen stock: TD Cowen raises target to USD 250 for Biogen stock

Published on 10/22/2026 at 22:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

TD Cowen models USD 1.99 adjusted earnings per share for third quarter. Biogen stock costs EUR 226.28 on October 22, 2026 at 10:15 p.m. CEST.

TD Cowen target raised

TD Cowen raised its Biogen target from USD 225.00 to USD 250.00 on October 21, 2026.
Its adjusted earnings per share estimate for the third quarter is USD 1.99.
Biogen stock costs EUR 226.28 at Lang & Schwarz on October 22, 2026 at 10:15 p.m. CEST.
Biogen is scheduled to report third-quarter results on October 28, 2026.

Aquarell-Panorama der Skyline von Cambridge MA mit Universitäts- und Biotech-Gebäuden am Fluss — Biogen Inc. Heimatstadt Cambridge Massachusetts am Charles River in zarter Aquarell-Illustration ISIN US09062X1037, Illustration mit AI erstellt.

Biogen Inc. (ISIN US09062X1037) is trading at EUR 226.28 at Lang & Schwarz on October 22, 2026 at 10:15 p.m. CEST after TD Cowen raised its price target from USD 225.00 to USD 250.00 on October 21, 2026. According to Investing.com, the firm kept its Buy rating while updating its model ahead of Biogen's third-quarter results.

USD 1.99 estimate for the quarter

The revised target is paired with a non-GAAP earnings per share estimate of USD 1.99 for the third quarter, up from USD 1.90. TD Cowen also lowered its full-year 2026 estimate to USD 12.30 from USD 12.40, compared with consensus of USD 12.46, according to Investing.com. The target therefore sits above the firm's reported reference price of USD 243.10 in that October 21 report.

Stock stays near its yearly high

Biogen's primary listing is on the Nasdaq, where the finance profile recorded an after-hours price of USD 253.84 at 4:00 p.m. ET on October 22, 2026. The same quote placed the 52-week range at USD 138.00 to USD 254.45 and market capitalization at USD 37.5 billion as of that date. The upper end of the range is USD 0.61 above the primary-market price.

Results date is October 28

Biogen is scheduled to report third-quarter 2026 results before the US market opens on October 28, 2026. The date is listed by BuyMeWhiskey as the next earnings date, with the Nasdaq earnings calendar identified as the source. That timing gives the USD 1.99 estimate immediate relevance for investors assessing the updated target.

Valuation remains a key measure

Biogen's market capitalization was USD 37.5 billion and its trailing price-to-earnings ratio was 44.93 on October 22, 2026. Amgen had a USD 241.8 billion market capitalization and a price-to-earnings ratio of 27.80, while Gilead Sciences had a USD 194.9 billion market capitalization and a negative price-to-earnings ratio on the same date. These figures place Biogen's valuation in a higher earnings multiple bracket than the two large biotechnology peers.

Target and earnings date

For investors, the immediate question is whether the forthcoming report supports TD Cowen's revised earnings assumptions. The target change and the USD 1.99 third-quarter estimate are dated October 21, 2026, while the company event is scheduled for October 28, 2026.

Biogen stock was trading at EUR 226.28 at Lang & Schwarz on October 22, 2026 at 10:15 p.m. CEST in after-hours trading. The further course of trading is shown by the continuously updated real-time quote of Biogen stock.