Biogen (BIIB) Valuation in Focus Following Q3 2025 Results and Key Medical Conference Updates

Biogen (BIIB) has recently captured attention thanks to its third quarter 2025 earnings announcement and a series of high-profile medical conference presentations. Investors are tuning in because these events offer fresh updates on Biogen’s business and research pipeline.

See our latest analysis for Biogen.

Biogen’s recent earnings update and a busy calendar of medical conferences have coincided with renewed market attention, driving a 16.5% gain in the share price over the past 90 days. Still, over the past year, total shareholder return is modestly negative. Longer-term returns remain well below pre-pandemic highs. This suggests that while momentum is building in the short term, the bigger turnaround story is still playing out.

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With Biogen’s shares rallying but still far from previous highs, the key question is whether the market is undervaluing the company’s progress or already accounts for any future breakthroughs and leaves limited upside for new buyers.

Most Popular Narrative: 8.6% Undervalued

Compared to Biogen’s last close at $161.48, the latest narrative sees fair value at $176.72. This suggests the stock still has meaningful room to run if current trends continue. This view comes as analysts recalibrate future earnings power and risk in response to policy developments and Biogen’s shifting product landscape.

"Bullish analysts highlight Biogen's favorable risk/reward profile at current valuations. They note that the stock is trading close to its 'no-pipeline' value, which could lead to upside if key developments materialize."

Read the complete narrative.

Want to know what underpins this opportunity? The narrative leans on pivotal new therapies, a reshaped margin profile, and a bolder earnings trajectory than many expect. Curious which surprising projections are baked into the fair value? The details may just defy consensus. Find out what makes this calculation tick.

Result: Fair Value of $176.72 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, persistent competition in Biogen’s core neurology markets and dependency on a handful of new launches could quickly challenge this bullish outlook.

Find out about the key risks to this Biogen narrative.

Build Your Own Biogen Narrative

If you’re interested in drawing your own conclusions or want to dig deeper into the numbers, you can craft a personal narrative in just a few minutes. Do it your way

A great starting point for your Biogen research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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