Biogen (BIIB) AI Stock Analysis

• Market Cap: $18.65B
• Dividend Yield: N/A
• Average Volume (3M): 1.51M
• Price to Earnings (P/E): 12.6
• Beta (1Y): 0.64
• Revenue Growth: 1.25%
• EPS Growth: 26.10%
• Country: US
• Employees: 7,605
• Sector: Healthcare
• Sector Strength: 46
• Industry: Drug Manufacturers - General
• EPS (TTM): 3.02
• Shares Outstanding: 146,527,830
• 10 Day Avg. Volume: 1,356,972
• 30 Day Avg. Volume: 1,512,019
• PEG Ratio: -1.33
• Price to Book (P/B): 1.09
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 8.11
• Enterprise Value/Market Cap: 1.21
• Enterprise Value/Revenue: 0.58
• Enterprise Value/Gross Profit: 3.05
• Enterprise Value/Ebitda: 2.12
• 1Y Price Target: $163.71
• Price Target Upside: 28.99% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 29

• Rating: 69 Neutral
• Price Target: $143.00 ▲(12.67%Upside)

Biogen's stability and strategic product advancements are strengths, but the declining revenue trend and competitive pressures in its core segments present significant challenges. The company's valuation and earnings call sentiment offer some optimism, but a cautious approach is warranted given the current market dynamics.

Positive Factors

Clinical Efficacy

Felzartamab has demonstrated clinical proof of concept in rare immune-mediated indications and is now in phase 3 clinical trials for its largest indication, IgAN, with unmet needs being addressed.

Market Position

Salanersen can extend Biogen’s leadership in Spinal Muscular Atrophy beyond Spinraza’s patent cliffs, diversifying risk away from quarterly intrathecal injections.

Product Development

Salanersen has shown milestone gains in hard-to-treat, older cohorts by achieving a 50% rate of new WHO milestones after just one once-yearly dose.

Negative Factors

Core Portfolio Challenges

Challenges in the company’s core portfolio are contributing to the stock's underperformance.

Stock Performance

The stock's underperformance compared to the broader group is attributed to challenges facing the company’s core portfolio and slower ramps for key growth products.

Biogen Business Overview & Revenue Model

Company Description

Biogen Inc. discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases. The company offers TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; and FUMADERM to treat plaque psoriasis. It also provides BENEPALI, an etanercept biosimilar referencing ENBREL; ADUHELM for the treatment of Alzheimer's disease; IMRALDI, an adalimumab biosimilar referencing HUMIRA; and FLIXABI, an infliximab biosimilar referencing REMICADE. In addition, the company offers RITUXAN for treating non-Hodgkin's lymphoma, chronic lymphocytic leukemia (CLL), rheumatoid arthritis, two forms of ANCA-associated vasculitis, and pemphigus vulgaris; RITUXAN HYCELA for non-Hodgkin's lymphoma and CLL; GAZYVA to treat CLL and follicular lymphoma; and OCREVUS for treating relapsing MS and primary progressive MS; and other anti-CD20 therapies. Further, it develops BIIB135, BIIB061, BIIB091, and BIIB107 for MS and neuroimmunology; Aducanumab, Lecanemab, BIIB076, and BIIB080 to treat Alzheimer's disease and dementia; BIIB067, BIIB078, BIIB105, BIIB100, and BIIB110 to treat neuromuscular disorders; BIIB124, BIIB094, BIIB118, BIIB101, and BIIB122 for treating Parkinson's disease and movement disorders; BIIB125 and BIIB104 for treating neuropsychiatry; Dapirolizumab pegol and BIIB059 to treat immunology related diseases; BIIB093 and BIIB131 to treat acute neurology; BIIB074 for neuropathic pain; and BYOOVIZ, BIIB800, and SB15 biosimilars, which are under various stages of development. The company has collaboration and license agreements with Acorda Therapeutics, Inc.; Alkermes Pharma Ireland Limited; Denali Therapeutics Inc.; Eisai Co., Ltd.; Genentech, Inc.; Neurimmune SubOne AG; Ionis Pharmaceuticals, Inc.; Samsung Bioepis Co., Ltd.; Sangamo Therapeutics, Inc.; and Sage Therapeutics, Inc. Biogen Inc. was founded in 1978 and is headquartered in Cambridge, Massachusetts.

How the Company Makes Money

Biogen generates revenue primarily through the sale of its pharmaceutical products, particularly in the neurology sector. Key revenue streams include its leading multiple sclerosis therapies, such as Tecfidera, Avonex, and Tysabri, as well as Spinraza for treating spinal muscular atrophy. Biogen also earns income from its biosimilars portfolio, which includes treatments for conditions like immune disorders and certain cancers. Additionally, the company engages in strategic collaborations and partnerships with other biotech and pharmaceutical firms to enhance its pipeline and expand its market reach, further contributing to its financial performance.

Biogen Financial Statement Overview

Summary

Biogen showcases financial stability with strong profit margins and a solid equity base. However, declining revenue is a significant risk to future profitability and cash flow growth, necessitating strategic revenue adjustments.

Income Statement

Biogen's income statement reflects a stable financial position with a strong gross profit margin of 86.2% for TTM, indicating efficient cost management. However, revenue has been declining over the years, with a slight decrease of 1.7% in the latest TTM compared to the previous year. The net profit margin stands at 15.2% for TTM, showcasing decent profitability despite the revenue decline. EBIT and EBITDA margins are relatively healthy, but the overall revenue trend poses a risk.

Balance Sheet

The balance sheet of Biogen reveals a solid equity base with a debt-to-equity ratio of 0.27, indicating low leverage and financial stability. The equity ratio is 63.2%, highlighting a strong financial structure with more reliance on equity than debt. However, the overall asset base has been relatively stable with minimal growth, which could limit future expansion.

Cash Flow

Biogen's cash flow performance shows a robust operating cash flow to net income ratio of 1.75 for TTM, indicating strong cash generation relative to profitability. However, the free cash flow growth rate has been negative due to declining revenue, with a slight decrease in free cash flow compared to previous periods. This highlights potential challenges in sustaining cash flow growth if revenue decline continues.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	9.82B	9.68B	9.84B	10.17B	10.98B	13.44B
Gross Profit	7.42B	7.37B	7.30B	7.90B	8.87B	11.64B
EBITDA	2.70B	2.83B	2.38B	4.36B	3.92B	5.73B
Net Income	1.48B	1.63B	1.16B	3.05B	1.56B	4.00B
Balance Sheet
Total Assets	28.03B	28.05B	26.84B	24.55B	23.88B	24.62B
Cash, Cash Equivalents and Short-Term Investments	2.60B	2.38B	1.05B	4.89B	3.80B	2.61B
Total Debt	6.62B	6.63B	7.34B	6.61B	7.60B	7.83B
Total Liabilities	11.05B	11.33B	12.05B	11.17B	12.92B	13.93B
Stockholders Equity	16.98B	16.72B	14.80B	13.40B	10.90B	10.70B
Cash Flow
Free Cash Flow	2.30B	2.52B	1.24B	1.14B	3.38B	3.81B
Operating Cash Flow	2.58B	2.88B	1.55B	1.38B	3.64B	4.23B
Investing Cash Flow	-780.50M	-799.20M	-4.10B	1.58B	-563.70M	-608.60M
Financing Cash Flow	-266.90M	-683.50M	149.30M	-1.75B	-2.09B	-5.27B

Biogen Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 126.92
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BIIB, the sentiment is Negative. The current price of 126.92 is below the 20-day moving average (MA) of 130.15, above the 50-day MA of 125.10, and below the 200-day MA of 149.98, indicating a neutral trend. The MACD of -0.13 indicates Positive momentum. The RSI at 46.97 is Neutral, neither overbought nor oversold. The STOCH value of 33.69 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BIIB.

Biogen Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
AMGN	71 Outperform	$150.75B	25.59	105.67%	3.40%	15.59%	56.99%
GILD	71 Outperform	$131.77B	22.27	32.51%	2.98%	4.63%	1144.01%
BIIB	69 Neutral	$18.65B	12.57	9.19%	―	1.25%	26.10%
SNY	67 Neutral	$117.24B	20.15	7.34%	4.63%	-4.57%	2.96%
BMY	63 Neutral	$95.00B	17.66	31.99%	5.31%	4.62%	―
GSK	63 Neutral	$77.29B	19.84	22.26%	4.48%	4.17%	-29.96%
Sector *	51 Neutral	$7.41B	0.32	-61.11%	2.34%	16.99%	1.69%

Biogen Corporate Events

Biogen Elects Board and Ratifies Auditor at Meeting

On June 17, 2025, Biogen Inc. held its 2025 Annual Meeting of Stockholders, where eleven nominees were elected to the Board of Directors for a one-year term. Additionally, stockholders ratified the selection of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, and approved the advisory vote on executive compensation. These decisions reflect the company’s ongoing governance and financial oversight strategies.

The most recent analyst rating on (BIIB) stock is a Buy with a $294.00 price target. To see the full list of analyst forecasts on Biogen stock, see the BIIB Stock Forecast page.

Biogen Completes $1.75 Billion Notes Issuance

On May 12, 2025, Biogen Inc. completed the issuance and sale of $1.75 billion in senior unsecured notes, with varying maturities and interest rates, to retire its outstanding 4.050% Senior Notes due 2025. The company plans to use the proceeds, along with cash on hand, to manage its debt obligations and for general corporate purposes, potentially impacting its financial flexibility and market positioning.

The most recent analyst rating on (BIIB) stock is a Buy with a $316.00 price target. To see the full list of analyst forecasts on Biogen stock, see the BIIB Stock Forecast page.