Biogen to Acquire Apellis, Expanding Ophthalmology Portfolio

Biogen ( (BIIB) ) just unveiled an update.

On March 31, 2026, Biogen signed a merger agreement to acquire Apellis Pharmaceuticals via a tender offer at $41.00 per share in cash plus a contingent value right of up to $4.00 per share, followed by a merger that will make Apellis a wholly owned Biogen subsidiary without a stockholder vote. The deal, backed unanimously by the Apellis board and supported by holders of about 14% of Apellis shares, includes antitrust and minimum tender conditions, a $205 million termination fee, and CVRs tied to future sales milestones for SYFOVRE, underscoring Biogen’s push to bolster its portfolio with Apellis’ ophthalmology franchise.

The most recent analyst rating on (BIIB) stock is a Hold with a $196.00 price target. To see the full list of analyst forecasts on Biogen stock, see the BIIB Stock Forecast page.

Spark’s Take on BIIB Stock

According to Spark, TipRanks’ AI Analyst, BIIB is a Neutral.

BIIB scores as a mid-range opportunity driven primarily by stable financials (profitability, free cash flow, and manageable leverage). The earnings outlook is mixed: growth products and pipeline progress are positives, but 2026 revenue is guided down with ongoing legacy MS erosion and timing/reimbursement risks. Technically the trend is strong but appears overbought, while valuation is not especially cheap at ~22.8x earnings and lacks a dividend yield input.

To see Spark’s full report on BIIB stock, click here.

More about Biogen

Biogen Inc. is a Delaware-based biotechnology company focused on developing and commercializing therapies, particularly in neuroscience and other specialty areas. Through acquisitions and partnerships, it expands its portfolio of innovative medicines and strengthens its position in high-value, fast-growing therapeutic markets.

Average Trading Volume: 1,297,814

Technical Sentiment Signal: Hold

Current Market Cap: $27.53B

Find detailed analytics on BIIB stock on TipRanks’ Stock Analysis page.