BIIB News & Events

Biogen (BIIB) has agreed to acquire Apellis Pharmaceuticals (APLS) for $41 per share, bringing complement inhibitors Syfovre and Empaveli into its portfolio, with Syfovre's $589M in 2025 sales viewed as the primary value driver, Chardan tells investors in a research note. The deal underscores strong pharma interest in the complement pathway, particularly in geographic atrophy, and reads positively to peers such as Annexon (ANNX) and Ocugen (OCGN), potentially catalyzing further partnership or licensing activity in the space, the firm says. Chardan has a Buy rating and $16 price target on shares of Annexon.

Morgan Stanley raised the firm's price target on Apellis (APLS) to $41 from $25 and keeps an Equal Weight rating on the shares after Biogen (BIIB) agreed to acquire Apellis for $41 per share in cash upfront. The upfront payment, which represents an 86% premium to the 90-day volume-weighted average price of Apellis shares, reflects anticipated synergies stemming from the deal, the analyst tells investors in a research note. The firm added that it updated its price target to $41 based on the upfront terms of the deal.