Biogen (BIIB)
Develops neurological medicines spanning MS, rare disease, Alzheimer’s, and complement-mediated conditions.
Something off on this page? Send us feedback.
Develops and commercializes neurological and rare-disease medicines, anchored by multiple-sclerosis therapies and SPINRAZA. Collaboration-led Alzheimer’s products and the Apellis acquisition broaden the single-segment business into complement-mediated disease.
Develops and commercializes medicines for neurological and rare diseases worldwide. Its portfolio includes the MS therapies VUMERITY, TYSABRI, TECFIDERA, AVONEX, and PLEGRIDY, plus SPINRAZA, SKYCLARYS, and QALSODY across rare neurological conditions. This combines established MS therapies with newer rare-disease medicines and collaboration-led products.
Commercializes LEQEMBI with Eisai and ZURZUVAE with Supernus, and added EMPAVELI and SYFOVRE through the Apellis acquisition, extending the business into nephrology and complement-mediated disease.
The single-segment business depends on product approvals and labels, reimbursement, manufacturing and third-party execution, and collaboration economics, including milestone payments and royalties.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 10, 2026 | Stifel Nicolaus | Target | Target: $275 | Target: $242 |
| Sep 10, 2026 | HSBC | Reiterate | Rating: —Target: $157 | Target: $175 |
| Sep 3, 2026 | Piper Sandler | Reiterate | Rating: —Target: $225 | Target: $245 |
| Aug 25, 2026 | RBC Capital | Reiterate | Rating: —Target: $240 | Target: $260 |
| Aug 18, 2026 | Wolfe Research | Initiate | Rating: — |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.29B · Total debt $8.36B · Total assets $32.09B · Shareholders' equity $18.85B
- Revenue
- $2.74B
- Operating income
- $318.1M
- Net income
- $97.5M
No dividends on record.
| Institutions | 97.04% | 143.38M shares | |
|---|---|---|---|
| 1,099 holders · as of Jun 30, 2026 | |||
| Insiders | 0.22% | 321.3K shares | |
| 21 holders · as of Aug 5, 2026 | |||
| Other | 2.74% | 4.06M shares | |
| remainder | |||
147.75M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
FMR LLCInstitution | 12.33% | 18.22M | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 10.82% | 15.99M | as of Jun 30, 2026 |
Primecap Management Co/CA/Institution | 10.26% | 15.15M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.53% | 9.65M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.97% | 7.34M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 4, 2026 | Lloyd Minor | director | −593 | $200.96 |
| Aug 3, 2026 | Lloyd Minor | director | −593 | $203.34 |
| Feb 12, 2026 | Nicole Murphy | officer: Head of Pharm Ops and Tech | +3 | $195.04 |
| Feb 9, 2026 | Priya Singhal | officer: Head of Development | −2,660 | $199.83 |
| Feb 2, 2026 | Priya Singhal | officer: Head of Development | −748 | $179.30 |
- Novartis (ADR)
MS and SMA alternatives led by Kesimpta and Zolgensma
- Eli Lilly
Early Alzheimer's disease alternative with Kisunla
- TG Therapeutics
Relapsing MS treatment alternative with BRIUMVI
- Bristol-Myers Squibb
Relapsing MS oral therapy alternative with Zeposia
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Biogen | $221.13 | +0.94% | $32.37B | 38.8 | 16.7 | 3.3 | +3.4% |
| Novartis (ADR) | $141.14 | +0.11% | $267.96B | 21.3 | 15.0 | 4.8 | +0.9% |
| Eli Lilly | $1,146.19 | −1.60% | $1.10T | 39.1 | 28.0 | 13.8 | +47.7% |
| TG Therapeutics | $57.38 | +0.38% | $8.75B | 20.9 | 30.2 | 10.9 | +70.3% |
| Bristol-Myers Squibb | $62.54 | −0.13% | $127.91B | 13.8 | 9.8 | 2.6 | +5.7% |
| Median | 21.1 | 21.5 | 7.9 | +26.7% |