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BIIB

Biogen Inc

NASDAQ: BIIB · HEALTHCARE · DRUG MANUFACTURERS - GENERAL

$194.38
+6.00% today

Updated 2026-04-29

Market cap
$28.53B
P/E ratio
20.92
P/S ratio
2.88x
EPS (TTM)
$9.29
Dividend yield
—
52W range
$115 – $202
Volume
1.1M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

Biogen Inc (BIIB) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$194.38
Consensus
$197.46
+1.58%
2030 Target
$1,134.98
+483.90%
DCF
$355.76
+46.26% MoS
28 analysts:
12 Buy15 Hold1 Sell

Management guidance

CEO Chris Viehbacher stated the $5.6B Apellis acquisition will contribute over $1.5 billion to Biogen's annual revenue by 2030, with the deal structured to be accretive to non-GAAP diluted EPS starting in 2027. The company expects positive cash flow contribution and debt leverage optimization by end of 2027, indicating confidence in near-term growth trajectory.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$1,879.80
$13.8B Rev × 20x P/S
Base case (2030)
$1,134.98
$13.8B Rev × 12x P/S
Bear case (2030)
$744.83
$13.8B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$9.8B$9.7B$9.8B$9.6B$10.2B$11.1B$12.3B$13.8B
Revenue growth—-1.6%1.4%-2.7%5.9%8.8%10.4%12.7%
EPS$15.08$16.47$15.29$16.08$17.50$19.25$21.50$24.00
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$780.30$833.50$904.43$993.10$1,134.98

Catalysts & risks

Growth catalysts
+ Apellis acquisition closing (2026-2027) adding SYFOVRE and EMPAVELI revenue streams worth $1.5B+ by 2030
+ FDA approval of high-dose SPINRAZA for spinal muscular atrophy expanding addressable market
+ Phase 3 readouts for felzartamab in kidney disease (felzartamab Phase 3 for nephrology expected 2026-2027)
+ Litifilimab Phase 2 positive data in cutaneous lupus erythematosus advancing rare disease portfolio
+ LEQEMBI (lecanemab) continued adoption in Alzheimer's disease with long-term treatment persistence data
Key risks
- SYFOVRE geographic atrophy drug facing revenue decline and postmarketing safety signals (intraocular inflammation, retinal vasculitis)
- Apellis acquisition met with market skepticism; 140% premium paid raises integration and ROI concerns
- Historical 5-year revenue CAGR of -6.1% reflects structural challenges in core MS portfolio maturation and patent cliff risks
- Potential 100% U.S. tariffs on branded drugs if pricing negotiations fail could impact profitability
- Multiple upcoming Phase 3 readouts carry clinical trial failure risk; pipeline concentration in rare diseases (lupus, SMA, nephrology)

Methodology

Biogen Inc's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 28 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.