Biogen (BIIB) Stock Forecast & Price Target

Biogen's stock outlook is bolstered by robust sales growth from its multiple sclerosis drug Vumerity, driven by favorable seasonal channel dynamics, along with strong expansion in international markets, particularly in China and Japan. The successful and accelerated launch of new products like Leqembi, Skyclarys, and Zurzuvae has exceeded consensus expectations, indicating effective commercial execution and a promising pipeline. Additionally, with a focus on cost savings from the "Fit for Growth" initiative and ongoing evaluation of business development opportunities, the company is well-positioned for sustained earnings growth into 2025, which further enhances its positive financial outlook.

Biogen's management has indicated a projected mid-single digit decline in total revenue for 2025, primarily due to the anticipated market entry of Sandoz’s biosimilar of Tysabri in the U.S. and increased generic competition impacting Tecfidera sales. The company’s non-GAAP EPS for FY2025 is expected to fall between $15.25 and $16.25, reflecting foreign exchange headwinds and an overall decline in core pharmaceutical revenue as multiple sclerosis products are negatively affected. Although new product launches, including Leqembi and others, are set to contribute to revenue, they are not expected to sufficiently counterbalance the losses from the declining MS business.