Biogen rises as Alzheimer’s therapy drives Q2 beat
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 31 2025
0mins
Should l Buy BIIB?
Source: SeekingAlpha
Biogen's Financial Performance: Biogen's stock rose ~8% after reporting Q2 2025 revenues of $2.6 billion, driven by strong sales of its Alzheimer's therapy Leqembi, which saw a fourfold increase in collaboration revenue and a 20% growth in U.S. sales from the previous quarter.
Updated Outlook: The company raised its full-year guidance, now expecting adjusted earnings per share between $15.50 and $16.00, indicating a more optimistic outlook compared to previous estimates, despite a projected decline in overall topline revenue.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy BIIB?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on BIIB
Wall Street analysts forecast BIIB stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for BIIB is 186.19 USD with a low forecast of 135.00 USD and a high forecast of 250.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
25 Analyst Rating
11 Buy
13 Hold
1 Sell
Moderate Buy
Current: 201.180
Low
135.00
Averages
186.19
High
250.00
Current: 201.180
Low
135.00
Averages
186.19
High
250.00
About BIIB
Biogen Inc. is a global biopharmaceutical company. The Company is focused on discovering, developing, and delivering advanced therapies for people living with serious and complex diseases worldwide. It operates a portfolio of medicines to treat multiple sclerosis (MS), spinal muscular atrophy (SMA), Alzheimer's disease, and amyotrophic lateral sclerosis (ALS). It is focused on advancing its pipeline in neurology, specialized immunology, and rare diseases. Its marketed products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS; SPINRAZA for the treatment of SMA; SKYCLARYS for the treatment of Friedreich's Ataxia; QALSODY for the treatment of ALS, and FUMADERM for the treatment of severe plaque psoriasis. It also collaborations with Eisai on the commercialization of LEQEMBI for the treatment of Alzheimer's disease and Sage on the commercialization of ZURZUVAE for the treatment of Postpartum Depression (PPD).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Biogen Reports Strong Q4 Earnings, Beats Expectations
- Earnings Beat: Biogen reported an adjusted EPS of $1.99 for Q4, surpassing the consensus estimate of $1.59, indicating strong execution and financial discipline.
- Revenue Performance: The company generated revenues of $2.28 billion, exceeding expectations of $2.20 billion, despite a 7% year-over-year decline, reflecting its competitive position in the Alzheimer's drug market.
- Future Outlook: Biogen anticipates fiscal 2026 earnings between $15.25 and $16.25 per share, above the consensus of $14.92, demonstrating confidence in future performance amid expected revenue declines.
- Analyst Rating Changes: Following the earnings announcement, several analysts adjusted their price targets for Biogen, with Piper Sandler raising its target from $157 to $177 and HC Wainwright & Co. increasing its target from $194 to $228, reflecting optimism about the company's future prospects.
See More
Biogen Reports Q4 and Full Year 2025 Earnings Exceeding Expectations
- Strong Financial Performance: Biogen's quarterly and full-year earnings for 2025 exceeded market expectations, indicating robust growth potential in the biopharmaceutical sector.
- Positive Market Reaction: The exceeding financial results are likely to drive Biogen's stock price upward, enhancing investor confidence and attracting more capital inflows.
- Clear Strategic Direction: The company highlighted future R&D investment plans in its earnings report, aiming to solidify its market position through innovative drug development and drive long-term growth.
- Enhanced Competitive Advantage: The better-than-expected performance not only reflects Biogen's operational efficiency but may also allow it to capture a larger market share in the highly competitive biopharmaceutical landscape.
See More
Biogen Reports Better-Than-Expected Q4 Results
- Strong Q4 Performance: Biogen's reported Q4 2025 revenues and earnings exceeded expectations, although the management's effective cost realignment highlights that revenue growth remains a critical missing piece in the turnaround narrative.
- Analyst Rating Adjustments: Wedbush's Laura Chico maintained a Neutral rating while raising the price target from $178 to $187, whereas HC Wainwright's Andrew Fein reiterated a Buy rating and increased the target from $194 to $228.
- New Product Sales: In 2025, Biogen's newer products (Leqembi, Skyclarys, Zurzuvae, Qalsody) generated approximately $980 million in sales, but total sales are expected to decline by about $500 million in 2026 due to competitive and generic threats to the MS franchise.
- Clinical Catalyst Outlook: Analysts noted that Biogen will have a stronger catalyst lineup in 2026, including Phase 2 data for BIIB091 in Q2 and readouts for BIIB122 and BIIB080, particularly highlighting the felzartamab program's 82% resolution rate in Phase 2, which could significantly impact future valuations.
See More
Wall Street Analysts Adjust Ratings
- Analyst Rating Changes: Top Wall Street analysts have adjusted their ratings on several companies, indicating a shift in market sentiment that could influence investor decisions and market trends.
- Upgrades and Downgrades: While specific stock names are not mentioned, such rating changes typically lead to price fluctuations in the affected stocks, prompting investors to closely monitor these adjustments for portfolio optimization.
- Market Reaction Expectations: Analyst rating adjustments may trigger short-term market reactions, especially when investor sentiment is sensitive towards certain stocks, thereby impacting overall market sentiment.
- Information Access Channels: Investors can access a comprehensive view of rating changes through Benzinga's analyst ratings page, enabling them to make more informed investment decisions.
See More
China Grants Priority Review for Biogen and Eisai's Alzheimer's Treatment
- Priority Review Approval: China's drug regulator has granted Priority Review for Biogen and Eisai's Alzheimer's treatment Leqembi, which, if approved, would allow patients to self-administer a 250 mg dose weekly at home, significantly enhancing patient convenience and adherence to treatment.
- Significant Stock Surge: Following the announcement, Biogen's stock jumped 9% to close at $201.18, marking its highest level in over 16 months, reflecting strong market confidence in the company's future growth potential.
- Analysts Raise Targets: After Biogen's Q4 earnings beat expectations, several analysts raised their price targets, with Citi increasing its target to $215, implying a 7% upside, indicating optimism about the company's ability to launch new products successfully.
- Strong Market Sentiment: On Stocktwits, retail sentiment for BIIB is described as 'extremely bullish', with users highlighting the stock's characteristics as a high-quality large-cap biotech, suggesting it has the potential for further price increases in the future.
See More
LEQEMBI® Receives Priority Review in China
- Priority Review Approval: The subcutaneous autoinjector formulation (SC-AI) of LEQEMBI® received Priority Review from China's National Medical Products Administration in January 2026, aimed at accelerating the development and launch of clinically valuable new medicines, which is expected to shorten the assessment period and enhance patient access to treatment.
- Home Administration Convenience: If approved, the 500 mg SC-AI will allow patients to self-administer a weekly injection at home, replacing the current biweekly intravenous administration in hospitals, significantly improving patient convenience and alleviating healthcare resource burdens associated with IV dosing.
- Significant Market Potential: Eisai estimates that there were 17 million patients with mild cognitive impairment or mild dementia in China in 2024, a number projected to rise with the aging population, and the home administration option of LEQEMBI® will provide more flexible treatment choices for these patients.
- Insurance Coverage Expansion: LEQEMBI® has been included in the
See More
Biogen Reports Strong Q4 Earnings, Beats Expectations
- Earnings Beat: Biogen reported an adjusted EPS of $1.99 for Q4, surpassing the consensus estimate of $1.59, indicating strong execution and financial discipline.
- Revenue Performance: The company generated revenues of $2.28 billion, exceeding expectations of $2.20 billion, despite a 7% year-over-year decline, reflecting its competitive position in the Alzheimer's drug market.
- Future Outlook: Biogen anticipates fiscal 2026 earnings between $15.25 and $16.25 per share, above the consensus of $14.92, demonstrating confidence in future performance amid expected revenue declines.
- Analyst Rating Changes: Following the earnings announcement, several analysts adjusted their price targets for Biogen, with Piper Sandler raising its target from $157 to $177 and HC Wainwright & Co. increasing its target from $194 to $228, reflecting optimism about the company's future prospects.
See More
Biogen Reports Q4 and Full Year 2025 Earnings Exceeding Expectations
- Strong Financial Performance: Biogen's quarterly and full-year earnings for 2025 exceeded market expectations, indicating robust growth potential in the biopharmaceutical sector.
- Positive Market Reaction: The exceeding financial results are likely to drive Biogen's stock price upward, enhancing investor confidence and attracting more capital inflows.
- Clear Strategic Direction: The company highlighted future R&D investment plans in its earnings report, aiming to solidify its market position through innovative drug development and drive long-term growth.
- Enhanced Competitive Advantage: The better-than-expected performance not only reflects Biogen's operational efficiency but may also allow it to capture a larger market share in the highly competitive biopharmaceutical landscape.
See More
Biogen Reports Better-Than-Expected Q4 Results
- Strong Q4 Performance: Biogen's reported Q4 2025 revenues and earnings exceeded expectations, although the management's effective cost realignment highlights that revenue growth remains a critical missing piece in the turnaround narrative.
- Analyst Rating Adjustments: Wedbush's Laura Chico maintained a Neutral rating while raising the price target from $178 to $187, whereas HC Wainwright's Andrew Fein reiterated a Buy rating and increased the target from $194 to $228.
- New Product Sales: In 2025, Biogen's newer products (Leqembi, Skyclarys, Zurzuvae, Qalsody) generated approximately $980 million in sales, but total sales are expected to decline by about $500 million in 2026 due to competitive and generic threats to the MS franchise.
- Clinical Catalyst Outlook: Analysts noted that Biogen will have a stronger catalyst lineup in 2026, including Phase 2 data for BIIB091 in Q2 and readouts for BIIB122 and BIIB080, particularly highlighting the felzartamab program's 82% resolution rate in Phase 2, which could significantly impact future valuations.
See More
Wall Street Analysts Adjust Ratings
- Analyst Rating Changes: Top Wall Street analysts have adjusted their ratings on several companies, indicating a shift in market sentiment that could influence investor decisions and market trends.
- Upgrades and Downgrades: While specific stock names are not mentioned, such rating changes typically lead to price fluctuations in the affected stocks, prompting investors to closely monitor these adjustments for portfolio optimization.
- Market Reaction Expectations: Analyst rating adjustments may trigger short-term market reactions, especially when investor sentiment is sensitive towards certain stocks, thereby impacting overall market sentiment.
- Information Access Channels: Investors can access a comprehensive view of rating changes through Benzinga's analyst ratings page, enabling them to make more informed investment decisions.
See More
China Grants Priority Review for Biogen and Eisai's Alzheimer's Treatment
- Priority Review Approval: China's drug regulator has granted Priority Review for Biogen and Eisai's Alzheimer's treatment Leqembi, which, if approved, would allow patients to self-administer a 250 mg dose weekly at home, significantly enhancing patient convenience and adherence to treatment.
- Significant Stock Surge: Following the announcement, Biogen's stock jumped 9% to close at $201.18, marking its highest level in over 16 months, reflecting strong market confidence in the company's future growth potential.
- Analysts Raise Targets: After Biogen's Q4 earnings beat expectations, several analysts raised their price targets, with Citi increasing its target to $215, implying a 7% upside, indicating optimism about the company's ability to launch new products successfully.
- Strong Market Sentiment: On Stocktwits, retail sentiment for BIIB is described as 'extremely bullish', with users highlighting the stock's characteristics as a high-quality large-cap biotech, suggesting it has the potential for further price increases in the future.
See More
LEQEMBI® Receives Priority Review in China
- Priority Review Approval: The subcutaneous autoinjector formulation (SC-AI) of LEQEMBI® received Priority Review from China's National Medical Products Administration in January 2026, aimed at accelerating the development and launch of clinically valuable new medicines, which is expected to shorten the assessment period and enhance patient access to treatment.
- Home Administration Convenience: If approved, the 500 mg SC-AI will allow patients to self-administer a weekly injection at home, replacing the current biweekly intravenous administration in hospitals, significantly improving patient convenience and alleviating healthcare resource burdens associated with IV dosing.
- Significant Market Potential: Eisai estimates that there were 17 million patients with mild cognitive impairment or mild dementia in China in 2024, a number projected to rise with the aging population, and the home administration option of LEQEMBI® will provide more flexible treatment choices for these patients.
- Insurance Coverage Expansion: LEQEMBI® has been included in the
See More
