Biogen Inc (BIIB) Fair Value & Analysis
Healthcare · US · Market cap $30.8B · ISIN US09062X1037
What is Biogen Inc really worth?
Biogen Inc
BIIB · US
A solid business, but trading 18% above our fair value of $189.51.
Strengths
Risks
Fair value as of: Aug 29, 2026
From 26 valuation models · updated 7 days ago
Share price +7.7% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- Solid but not exceptional quality (63/100) and above fair value, neither a clear bargain nor a standout compounder.
- The price sits in the upper half of our model range, so the margin of safety is thin.
- The data supports the verdict: every model runs on fully documented inputs.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 29, 2026.
How to read this chart
60‑month range $113.38 – $414.71 · fair‑value band $135.46 – $240.92 · the $224.51 price screens above the $189.51 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Aug 29, 2026.
Analysis
Biogen Inc (BIIB) currently trades at $224.51, while our model-based Fair Value estimate is $189.51, implying the stock looks roughly 18.5% overvalued today. The Quality Score stands at 63/100 (solid quality), in the Healthcare sector. Bull case: the DCF Models group reads highest at a median of $269.75 per share, and 12 of the 26 models we run sit above the $224.51 price. Bear case: the Asset-Based group reads lowest at $82.85, and 14 of the 26 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Biogen Inc generated revenue of $9.9B at a net margin of 13.8%. Revenue grew 1.9% year over year. It earns a return on equity of 7.7%. Net debt stands at $3.9B. Fundamentals as of Aug 29, 2026
Our scenario range runs from $135.46 (bear case) to $240.92 (bull case); at $224.51, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 85% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at −18% fair-value upside, at −16%, BIIB screens cheaper than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly $6.29 per share, which is 3.3 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 26 models by family
Widest divergence: DCF Models ($269.75) versus Dividend Discount ($0.0800). Highest evidence: Residual Income (76).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 29, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 63 · Market factors (momentum, volatility) 81
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Biogen Inc. discovers, develops, manufactures, and delivers therapies in the United States, Europe, Germany, Asia, and internationally.
Full company description
Biogen Inc. discovers, develops, manufactures, and delivers therapies in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, and TYSABRI for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; SKYCLARYS to treat Friedreich's Ataxia; QALSODY for treating amyotrophic lateral sclerosis; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE. It offers LEQEMBI for the treatment of Alzheimer's disease; ZURZUVAE for the treatment of postpartum depression; RITUXAN to treat non-Hodgkin's lymphoma, chronic lymphocytic leukemia (CLL), rheumatoid arthritis, two forms of ANCA-associated vasculitis, and pemphigus vulgaris; RITUXAN HYCELA for non-Hodgkin's lymphoma and CLL; GAZYVA to treat CLL and follicular lymphoma; OCREVUS for relapsing MS and primary progressive MS; LUNSUMIO to treat relapsed or refractory follicular lymphoma; glofitamab for aRelapsed or refractory diffuse large B-cell lymphoma; and other anti-CD20 therapies. Biogen Inc. has collaboration and license agreements with Merz Therapeutics; Alkermes Pharma Ireland Limited; Denali Therapeutics Inc.; UCB; Eisai Co., Ltd.; Genentech, Inc.; Neurimmune SubOne AG; Ionis Pharmaceuticals, Inc.; Samsung Bioepis; and Sage Therapeutics, Inc., as well as collaborations with Stoke Therapeutics, Inc. for the development and commercialization of zorevunersen, a disease modifying medicine for the treatment of Dravet syndrome; Dayra Therapeutics, Inc. to develop oral macrocyclic peptides; Vanqua Bio, Inc. for developing Vanqua's preclinical oral C5aR1 antagonist compound; City Therapeutics, Inc. to develop select novel RNAi therapies; and ALTEOGEN Inc. to develop subcutaneous (SC) formulations of biologics utilizing ALT-B4. The company was founded in 1978 and is headquartered in Cambridge, Massachusetts.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Biogen Inc reported revenue of $9.8B in FY2025 versus $11.0B in FY2021, a compound −2.8%/yr. Reported net income was $1.3B in FY2025, compounding −4.5%/yr from FY2021.
of which total revenue −0.9 % · buybacks/dilution +5.1 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
BIIB screens 18% overvalued. Compare with Eli Lilly and Company →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Biogen’s (BIIB) Immunology Bet Meets A Pricier Balance Sheet
- Stoke Therapeutics and Biogen Announce Presentations of Clinical Data from Studies of Zorevunersen, an Investigational Medicine for the Trea
Peer Group
Drug Manufacturers - General · 75 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Drug Manufacturers - General median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Drug Manufacturers - General stocks, each showing price versus our Fair Value estimate (as of Aug 29, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Eli Lilly and Company LLY | $1,176 | $389.47 | −67% |
| Johnson & Johnson, JNJ | $265.77 | $169.04 | −36% |
| AbbVie Inc ABBV | $258.15 | $67.72 | −74% |
| Roche Holding RO | CHF 374.60 | CHF 306.54 | −18% |
| Merck & Co MRK | €131.98 | €101.38 | −23% |
| Novartis AG NOVN | CHF 123.74 | CHF 114.90 | −7% |
| Novo Nordisk A/S NOVOB | kr 295.50 | kr 409.46 | +39% |
| Amgen Inc AMGN | $436.99 | $252.02 | −42% |
| Gilead Sciences, Inc GILD | $148.86 | $146.50 | −2% |
| Pfizer Inc PFE | $28.02 | $24.87 | −11% |
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