(BIIB) Biogen - Overview
Stock: Multiple Sclerosis, Spinal Muscular Atrophy, Alzheimer’s, Biosimilars, Neurology
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 32.5% |
| Relative Tail Risk | -4.24% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.97 |
| Alpha | 24.65 |
| Character TTM | |
|---|---|
| Beta | 0.631 |
| Beta Downside | 0.436 |
| Drawdowns 3y | |
|---|---|
| Max DD | 64.35% |
| CAGR/Max DD | -0.20 |
Description: BIIB Biogen December 19, 2025
Biogen (NASDAQ: BIIB) is a global biotech firm that discovers, develops, manufactures, and commercializes therapies for neurological and neuro-degenerative diseases, with a footprint across the United States, Europe, Asia and other regions.
Its core marketed portfolio includes multiple-sclerosis drugs (Tecfidera, Vumerity, Avonex, Plegridy, Tysabri), the SMA treatment Spinraza, the Friedreich’s ataxia candidate Skyclarys, ALS therapy Qalsody, and a suite of biosimilars (Benepali, Imraldi, Flixabi, Byooviz, Tofidence). In oncology, Biogen sells Rituxan, Rituxan Hycela, Gazyva, Ocrevus, and emerging anti-CD20 agents such as glofitamab.
Beyond current products, the company is advancing pipelines in MS, Alzheimer’s disease (notably lecanemab, which generated $1.1 billion in 2023 U.S. sales), Parkinson’s disease, and other neuro-psychiatric indications, while expanding its biosimilar franchise.
Key financial metrics (FY 2023): revenue $10.6 billion, R&D spend ≈ 22 % of revenue, and a diluted EPS of $3.21. In Q2 2024, Tecfidera net sales fell 12 % YoY, reflecting competitive pressure and the rollout of generic alternatives.
Sector drivers that materially affect Biogen’s outlook include the aging global population (projected to increase the prevalence of neuro-degenerative disorders by ~30 % over the next decade) and U.S. Medicare reimbursement reforms that tighten pricing for high-cost biologics.
For a data-rich, analyst-level deep-dive on Biogen’s valuation sensitivities, the ValueRay platform offers a transparent, model-backed view worth exploring.
Piotroski VR‑10 (Strict, 0-10) 6.0
| Net Income: 1.29b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA -1.70 > 1.0 |
| NWC/Revenue: 57.33% < 20% (prev 19.93%; Δ 37.41% < -1%) |
| CFO/TA 0.07 > 3% & CFO 2.20b > Net Income 1.29b |
| Net Debt (3.57b) to EBITDA (3.10b): 1.15 < 3 |
| Current Ratio: 2.68 > 1.5 & < 3 |
| Outstanding Shares: last quarter (146.7m) vs 12m ago 0.41% < -2% |
| Gross Margin: 70.47% > 18% (prev 0.72%; Δ 6975 % > 0.5%) |
| Asset Turnover: 34.13% > 50% (prev 34.50%; Δ -0.37% > 0%) |
| Interest Coverage Ratio: 8.80 > 6 (EBITDA TTM 3.10b / Interest Expense TTM 246.0m) |
Altman Z'' 5.95
| A: 0.19 (Total Current Assets 8.97b - Total Current Liabilities 3.35b) / Total Assets 29.44b |
| B: 0.70 (Retained Earnings 20.55b / Total Assets 29.44b) |
| C: 0.08 (EBIT TTM 2.17b / Avg Total Assets 28.74b) |
| D: 1.82 (Book Value of Equity 20.37b / Total Liabilities 11.18b) |
| Altman-Z'' Score: 5.95 = AAA |
Beneish M -3.29
| DSRI: 0.71 (Receivables 1.34b/1.87b, Revenue 9.81b/9.68b) |
| GMI: 1.03 (GM 70.47% / 72.34%) |
| AQI: 0.96 (AQ_t 0.58 / AQ_t-1 0.61) |
| SGI: 1.01 (Revenue 9.81b / 9.68b) |
| TATA: -0.03 (NI 1.29b - CFO 2.20b) / TA 29.44b) |
| Beneish M-Score: -3.29 (Cap -4..+1) = AA |
What is the price of BIIB shares?
Over the past week, the price has changed by +8.22%, over one month by +3.30%, over three months by +24.03% and over the past year by +35.97%.
Is BIIB a buy, sell or hold?
- StrongBuy: 13
- Buy: 4
- Hold: 20
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the BIIB price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 200 | 3.2% |
| Analysts Target Price | 200 | 3.2% |
| ValueRay Target Price | 189.6 | -2.2% |
BIIB Fundamental Data Overview February 09, 2026
P/E Forward = 12.9366
P/S = 2.984
P/B = 1.6172
P/EG = 5.8826
Revenue TTM = 9.81b USD
EBIT TTM = 2.17b USD
EBITDA TTM = 3.10b USD
Long Term Debt = 6.29b USD (from longTermDebt, two quarters ago)
Short Term Debt = unknown (none)
Debt = 6.58b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 3.57b USD (from netDebt column, last quarter)
Enterprise Value = 32.28b USD (29.51b + Debt 6.58b - CCE 3.82b)
Interest Coverage Ratio = 8.80 (Ebit TTM 2.17b / Interest Expense TTM 246.0m)
EV/FCF = 15.09x (Enterprise Value 32.28b / FCF TTM 2.14b)
FCF Yield = 6.63% (FCF TTM 2.14b / Enterprise Value 32.28b)
FCF Margin = 21.80% (FCF TTM 2.14b / Revenue TTM 9.81b)
Net Margin = 13.18% (Net Income TTM 1.29b / Revenue TTM 9.81b)
Gross Margin = 70.47% ((Revenue TTM 9.81b - Cost of Revenue TTM 2.90b) / Revenue TTM)
Gross Margin QoQ = 78.23% (prev 64.29%)
Tobins Q-Ratio = 1.10 (Enterprise Value 32.28b / Total Assets 29.44b)
Interest Expense / Debt = 0.70% (Interest Expense 46.0m / Debt 6.58b)
Taxrate = 7.71% (108.1m / 1.40b)
NOPAT = 2.00b (EBIT 2.17b * (1 - 7.71%))
Current Ratio = 2.68 (Total Current Assets 8.97b / Total Current Liabilities 3.35b)
Debt / Equity = 0.36 (Debt 6.58b / totalStockholderEquity, last quarter 18.26b)
Debt / EBITDA = 1.15 (Net Debt 3.57b / EBITDA 3.10b)
Debt / FCF = 1.67 (Net Debt 3.57b / FCF TTM 2.14b)
Total Stockholder Equity = 17.77b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.50% (Net Income 1.29b / Total Assets 29.44b)
RoE = 7.28% (Net Income TTM 1.29b / Total Stockholder Equity 17.77b)
RoCE = 9.00% (EBIT 2.17b / Capital Employed (Equity 17.77b + L.T.Debt 6.29b))
RoIC = 8.36% (NOPAT 2.00b / Invested Capital 23.90b)
WACC = 6.86% (E(29.51b)/V(36.09b) * Re(8.24%) + D(6.58b)/V(36.09b) * Rd(0.70%) * (1-Tc(0.08)))
Discount Rate = 8.24% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.34%
[DCF Debug] Terminal Value 84.05% ; FCFF base≈2.29b ; Y1≈2.63b ; Y5≈3.69b
Fair Price DCF = 534.4 (EV 81.97b - Net Debt 3.57b = Equity 78.40b / Shares 146.7m; r=6.86% [WACC]; 5y FCF grow 17.62% → 2.90% )
EPS Correlation: -40.56 | EPS CAGR: -18.97% | SUE: 0.38 | # QB: 0
Revenue Correlation: -39.75 | Revenue CAGR: -2.76% | SUE: -0.11 | # QB: 0
EPS next Quarter (2026-03-31): EPS=3.32 | Chg30d=-0.221 | Revisions Net=-1 | Analysts=19
EPS current Year (2026-12-31): EPS=15.25 | Chg30d=+0.081 | Revisions Net=-6 | Growth EPS=-0.2% | Growth Revenue=-5.3%
EPS next Year (2027-12-31): EPS=16.00 | Chg30d=+0.042 | Revisions Net=-5 | Growth EPS=+4.9% | Growth Revenue=-0.5%