Biogen/$BIIB
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Capital at risk
About Biogen
Biogen is an established biopharmaceutical company focused on treatments for neurodegenerative and rare diseases. Its declining multiple sclerosis franchise is its largest revenue generator and contributed 40% of total revenue in 2025. Biogen also generates significant revenue from its CD20 collaboration agreements with Roche (19% of total in 2025), which includes oncology drugs Rituxan and Gazyva and multiple sclerosis drug Ocrevus. Biogen's newer franchises include Spinraza (spinal muscular atrophy, with partner Ionis), Leqembi (Alzheimer's disease, collabroation revenue from its partner Eisai), Skyclarys (Friedreich's ataxia, Reata), Zurzuvae (postpartum depression, Sage), and Qalsody (amyotrophic lateral sclerosis, Ionis).
- Ticker
- $BIIB
- Sector
- Health
- Primary listing
- NASDAQ
- Employees
- 7,500
- Headquarters
- Cambridge, United States
- Website
- www.biogen.com
Biogen Metrics
BasicAdvanced
$34B
40.37
$5.64
0.17
-
Price and volume
Market cap
$34B
Beta
0.17
52-week high
$229.19
52-week low
$135.39
Average daily volume
843K
Financial strength
Current ratio
1.865
Quick ratio
0.94
Long term debt to equity
0.401
Total debt to equity
0.443
Interest coverage (TTM)
8.84%
Profitability
EBITDA (TTM)
3,359.2
Gross margin (TTM)
78.32%
Net profit margin (TTM)
8.32%
Operating margin (TTM)
25.09%
Effective tax rate (TTM)
17.48%
Revenue per employee (TTM)
$1,340,000
Management effectiveness
Return on assets (TTM)
5.21%
Return on equity (TTM)
4.58%
Valuation
Price to earnings (TTM)
40.366
Price to revenue (TTM)
3.338
Price to book
1.78
Price to tangible book (TTM)
-20.26
Price to free cash flow (TTM)
13.441
Free cash flow yield (TTM)
7.44%
Free cash flow per share (TTM)
16.933
Growth
Revenue change (TTM)
0.31%
Earnings per share change (TTM)
-46.06%
3-year revenue growth (CAGR)
0.19%
10-year revenue growth (CAGR)
-1.13%
3-year earnings per share growth (CAGR)
-32.52%
10-year earnings per share growth (CAGR)
-10.51%
What the Analysts think about Biogen
Analyst ratings (Buy, Hold, Sell) for Biogen stock.
Analyst projections of the future price of Biogen stock.
Bulls say / Bears say
Biogen’s growth portfolio is beginning to offset legacy-MS pressure: Q2 revenue increased 3% year over year to $2.736 billion, while growth-portfolio revenue reached $1.06 billion, up 24%. Management also raised its underlying 2026 EPS outlook by $0.60 and expects full-year revenue to grow at a mid-single-digit rate. (SEC)
LEQEMBI offers a potentially meaningful growth catalyst: Q2 global in-market sales rose 15% year over year to $184 million, FDA approved the IQLIK autoinjector for treatment initiation in July, and the product became available in the U.S. in August. (Biogen)
The completed Apellis acquisition broadens Biogen’s commercial base through SYFOVRE and EMPAVELI; Q2 revenue for the products was strong, with EMPAVELI up 123% year over year, and Biogen expects the deal to be EPS-accretive in 2027 with at least $250 million of run-rate synergies exiting 2027. (SEC)
Biogen cut reported 2026 non-GAAP EPS guidance to $12.00–$13.00 from $14.25–$15.25 in July, reflecting roughly $3 per share of acquired IPR&D and milestone charges plus $0.85 of Apellis-related dilution. (SEC)
The Apellis transaction materially increased financial leverage: as of June 30, 2026, Biogen had approximately $6.8 billion of net debt, while Q2 non-GAAP EPS fell 34% year over year and net interest expense rose because of acquisition financing. (SEC)
Pipeline execution remains a risk after the Phase 2b LUMA study of BIIB122 failed to meet its primary and secondary endpoints, prompting Biogen and Denali to discontinue development in idiopathic Parkinson’s disease. (Biogen)
Data summarised monthly by Lightyear AI. Last updated on 10 Sept 2026.
Biogen Financial Performance
Revenues and expenses
Biogen Earnings Performance
Company profitability
Upcoming events
No upcoming events
Biogen News
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Funds containing Biogen
AllUSDGBPEUR
Fund name | Fund size | $BIIB weighting |
|---|---|---|
iShares Nasdaq US Biotechnology$BTEC | $1.2B | 2.20% |
iShares Nasdaq US Biotechnology£BTEK | £865M | 2.20% |
iShares Healthcare Innovation$HEAL | $1.4B | 1.38% |
iShares Healthcare Innovation€2B78 | €1.2B | 1.38% |
iShares Healthcare Innovation£DRDR | £1B | 1.38% |
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