Biogen (BIIB)

• Market cap: $20.3B
• 1 day: -1.40%
• 5 days: -2.19%
• 1 month: -1.52%
• 3 months: -7.87%
• 6 months: -28.62%
• Year to date: -7.75%
• 1 year: -35.83%
• 5 years: -56.23%
• 10 years: -67.94%
• Sector: Healthcare
• Industry: Biological Products, Except Diagnostic Substances

About: Biogen and Idec merged in 2003, combining forces to market Biogen's multiple sclerosis drug Avonex and Idec's cancer drug Rituxan. Today, Rituxan and next-generation antibody Gazyva (oncology) and Ocrevus (multiple sclerosis) are marketed via a collaboration with Roche. Biogen markets several multiple sclerosis drugs including Plegridy, Tysabri, Tecfidera, and Vumerity. Biogen's newer products include Spinraza (SMA, with partner Ionis), Leqembi (Alzheimers, with partner Eisai), Skyclarys (Friedreich's Ataxia, Reata), Zurzuvae (postpartum depression, Sage), and Qalsody (ALS, Ionis). Biogen has several drug candidates in phase 3 trials in neurology, immunology, and rare diseases.

Employees: 7,605

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

0.53% less ownership

Funds ownership: 90.7% [Q3] → 90.17% (-0.53%) [Q4]

7% less repeat investments, than reductions

Existing positions increased: 291 | Existing positions reduced: 313

5% less funds holding

Funds holding: 897 [Q3] → 848 (-49) [Q4]

13% less call options, than puts

Call options by funds: $308M | Put options by funds: $356M

20% less first-time investments, than exits

New positions opened: 125 | Existing positions closed: 157

21% less capital invested

Capital invested by funds: $25.5B [Q3] → $20.1B (-$5.37B) [Q4]

50% less funds holding in top 10

Funds holding in top 10: 8 [Q3] → 4 (-4) [Q4]

Research analyst outlook

11 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $135 2% downside
• Avg. target: $193 40% upside
• High target: $265 92% upside

11 analyst ratings

• positive: 6 55%
• neutral: 5 45%
• negative: 0 0%

Piper Sandler Christopher Raymond 33% 1-year accuracy 10 / 30 met price target	2% downside $135	Neutral Reiterated	18 Feb 2025
Scotiabank George Farmer 27% 1-year accuracy 6 / 22 met price target	62% upside $224	Sector Outperform Maintained	13 Feb 2025
BMO Capital Evan Seigerman 71% 1-year accuracy 10 / 14 met price target	0% upside $139	Market Perform Maintained	13 Feb 2025
Morgan Stanley Matthew Harrison 46% 1-year accuracy 11 / 24 met price target	13% upside $157	Equal-Weight Maintained	13 Feb 2025
Goldman Sachs Salveen Richter 29% 1-year accuracy 5 / 17 met price target	77% upside $245	Buy Maintained	13 Feb 2025