(BIIB) Biogen - Overview
Stock: Multiple Sclerosis, Spinal Muscular Atrophy, Alzheimer’s, Biosimilars, Neurology
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 31.5% |
| Relative Tail Risk | -2.87% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.67 |
| Alpha | 12.98 |
| Character TTM | |
|---|---|
| Beta | 0.612 |
| Beta Downside | 0.421 |
| Drawdowns 3y | |
|---|---|
| Max DD | 64.35% |
| CAGR/Max DD | -0.22 |
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) 7.0
| Net Income: 1.61b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.08 > 0.02 and ΔFCF/TA 1.55 > 1.0 |
| NWC/Revenue: 56.55% < 20% (prev 14.63%; Δ 41.92% < -1%) |
| CFO/TA 0.08 > 3% & CFO 2.45b > Net Income 1.61b |
| Net Debt (2.73b) to EBITDA (3.49b): 0.78 < 3 |
| Current Ratio: 2.72 > 1.5 & < 3 |
| Outstanding Shares: last quarter (147.1m) vs 12m ago 0.82% < -2% |
| Gross Margin: 70.12% > 18% (prev 0.72%; Δ 6940 % > 0.5%) |
| Asset Turnover: 34.72% > 50% (prev 33.93%; Δ 0.79% > 0%) |
| Interest Coverage Ratio: 10.50 > 6 (EBITDA TTM 3.49b / Interest Expense TTM 260.0m) |
Altman Z'' 6.15
| A: 0.19 (Total Current Assets 8.94b - Total Current Liabilities 3.29b) / Total Assets 29.21b |
| B: 0.71 (Retained Earnings 20.60b / Total Assets 29.21b) |
| C: 0.09 (EBIT TTM 2.73b / Avg Total Assets 28.76b) |
| D: 1.85 (Book Value of Equity 20.39b / Total Liabilities 11.00b) |
| Altman-Z'' Score: 6.15 = AAA |
Beneish M -3.14
| DSRI: 0.90 (Receivables 1.85b/1.99b, Revenue 9.99b/9.61b) |
| GMI: 1.02 (GM 70.12% / 71.78%) |
| AQI: 0.91 (AQ_t 0.58 / AQ_t-1 0.63) |
| SGI: 1.04 (Revenue 9.99b / 9.61b) |
| TATA: -0.03 (NI 1.61b - CFO 2.45b) / TA 29.21b) |
| Beneish M-Score: -3.14 (Cap -4..+1) = AA |
What is the price of BIIB shares?
Over the past week, the price has changed by +4.84%, over one month by +1.98%, over three months by +20.24% and over the past year by +23.02%.
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 | 193 | 7.3% |
| Analysts Target Price | 193 | 7.3% |
| ValueRay Target Price | 186.2 | 3.5% |
BIIB Fundamental Data Overview February 01, 2026
P/E Forward = 11.2233
P/S = 2.6217
P/B = 1.4195
P/EG = 5.0995
Revenue TTM = 9.99b USD
EBIT TTM = 2.73b USD
EBITDA TTM = 3.49b USD
Long Term Debt = 6.29b USD (from longTermDebt, last quarter)
Short Term Debt = 1.75b USD (from shortTermDebt, last fiscal year)
Debt = 6.59b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 2.73b USD (from netDebt column, last quarter)
Enterprise Value = 29.02b USD (26.39b + Debt 6.59b - CCE 3.96b)
Interest Coverage Ratio = 10.50 (Ebit TTM 2.73b / Interest Expense TTM 260.0m)
EV/FCF = 12.74x (Enterprise Value 29.02b / FCF TTM 2.28b)
FCF Yield = 7.85% (FCF TTM 2.28b / Enterprise Value 29.02b)
FCF Margin = 22.81% (FCF TTM 2.28b / Revenue TTM 9.99b)
Net Margin = 16.11% (Net Income TTM 1.61b / Revenue TTM 9.99b)
Gross Margin = 70.12% ((Revenue TTM 9.99b - Cost of Revenue TTM 2.98b) / Revenue TTM)
Gross Margin QoQ = 64.29% (prev 64.23%)
Tobins Q-Ratio = 0.99 (Enterprise Value 29.02b / Total Assets 29.21b)
Interest Expense / Debt = 1.02% (Interest Expense 67.4m / Debt 6.59b)
Taxrate = 16.29% (90.8m / 557.3m)
NOPAT = 2.29b (EBIT 2.73b * (1 - 16.29%))
Current Ratio = 2.72 (Total Current Assets 8.94b / Total Current Liabilities 3.29b)
Debt / Equity = 0.36 (Debt 6.59b / totalStockholderEquity, last quarter 18.21b)
Debt / EBITDA = 0.78 (Net Debt 2.73b / EBITDA 3.49b)
Debt / FCF = 1.20 (Net Debt 2.73b / FCF TTM 2.28b)
Total Stockholder Equity = 17.38b (last 4 quarters mean from totalStockholderEquity)
RoA = 5.59% (Net Income 1.61b / Total Assets 29.21b)
RoE = 9.25% (Net Income TTM 1.61b / Total Stockholder Equity 17.38b)
RoCE = 11.53% (EBIT 2.73b / Capital Employed (Equity 17.38b + L.T.Debt 6.29b))
RoIC = 9.65% (NOPAT 2.29b / Invested Capital 23.67b)
WACC = 6.71% (E(26.39b)/V(32.98b) * Re(8.17%) + D(6.59b)/V(32.98b) * Rd(1.02%) * (1-Tc(0.16)))
Discount Rate = 8.17% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.48%
[DCF Debug] Terminal Value 84.59% ; FCFF base≈2.07b ; Y1≈2.39b ; Y5≈3.34b
Fair Price DCF = 507.4 (EV 77.16b - Net Debt 2.73b = Equity 74.43b / Shares 146.7m; r=6.71% [WACC]; 5y FCF grow 17.62% → 2.90% )
EPS Correlation: -42.59 | EPS CAGR: -48.19% | SUE: -2.92 | # QB: 0
Revenue Correlation: -41.22 | Revenue CAGR: -2.83% | SUE: 0.86 | # QB: 3
EPS next Quarter (2026-03-31): EPS=3.47 | Chg30d=-0.065 | Revisions Net=+0 | Analysts=16
EPS next Year (2026-12-31): EPS=15.04 | Chg30d=-0.182 | Revisions Net=-4 | Growth EPS=+0.1% | Growth Revenue=-5.1%