Biogen Inc reaches 20-day high amid LEQEMBI application news
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 09 2024
0mins
Should l Buy BIIB?
Source: Benzinga
Biogen Inc's stock rose by 4.33%, reaching a 20-day high, as the broader market showed positive momentum with the Nasdaq-100 up 0.54% and the S&P 500 up 0.31%.
The increase in Biogen's stock price is attributed to the joint announcement with Eisai regarding the acceptance of the Biologics License Application for the subcutaneous formulation of LEQEMBI (lecanemab) by China's National Medical Products Administration. This development is expected to enhance medication accessibility for patients and indicates substantial market potential in China, where the number of patients with mild cognitive impairment or mild dementia is projected to rise significantly.
This news not only highlights Biogen's strategic collaboration with Eisai but also positions the company favorably in the Alzheimer's treatment market, potentially driving future sales growth and improving investor sentiment.
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Analyst Views on BIIB
Wall Street analysts forecast BIIB stock price to rise
26 Analyst Rating
11 Buy
14 Hold
1 Sell
Moderate Buy
Current: 177.350
Low
143.00
Averages
204.45
High
246.00
Current: 177.350
Low
143.00
Averages
204.45
High
246.00
About BIIB
Biogen Inc. is a global biopharmaceutical company. The Company is focused on discovering, developing, and delivering advanced therapies for people living with serious and complex diseases worldwide. It operates a portfolio of medicines to treat multiple sclerosis (MS), spinal muscular atrophy (SMA), Alzheimer's disease, and amyotrophic lateral sclerosis (ALS). It is focused on advancing its pipeline in neurology, specialized immunology, and rare diseases. Its marketed products include TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for the treatment of MS; SPINRAZA for the treatment of SMA; SKYCLARYS for the treatment of Friedreich's Ataxia; QALSODY for the treatment of ALS, and FUMADERM for the treatment of severe plaque psoriasis. It also collaborations with Eisai on the commercialization of LEQEMBI for the treatment of Alzheimer's disease and Sage on the commercialization of ZURZUVAE for the treatment of Postpartum Depression (PPD).
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Financial Terms: Under the agreement, TJ Biopharma will receive a $100 million upfront payment and is eligible for up to $750 million in potential commercial and sales milestone payments, totaling a potential consideration of $850 million, which will significantly support TJ Biopharma's R&D efforts.
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- Upfront Payment Structure: Under the agreement, Biogen will pay $100 million upfront to Hangzhou-based TJ Bio, which it plans to record as an in-process R&D expense in Q2 2026, reflecting the company's commitment to new drug development.
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- Acquisition Agreement: Biogen has entered into a definitive agreement to acquire TJ Bio's exclusive rights to felzartamab in the Greater China Region, marking a strategic expansion in the field of immune-mediated diseases.
- Significant Payment Commitment: Biogen will make a $100 million upfront payment and is eligible for up to $750 million in potential commercial and sales milestone payments, totaling a potential consideration of up to $850 million, indicating strong recognition of the drug's market potential.
- Global Clinical Research: Felzartamab is currently undergoing global Phase 3 clinical studies, with Biogen assuming full responsibility for milestone payments and royalty obligations, further solidifying its leadership position in the biopharmaceutical sector.
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See More
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- Global Exclusive Rights: Biogen has acquired exclusive worldwide development and commercialization rights to felzartamab by purchasing TJ Biopharma's rights in Greater China, a strategic move that enhances its market position in immune-mediated diseases.
- Financial Terms: Under the agreement, TJ Biopharma will receive a $100 million upfront payment and is eligible for up to $750 million in potential commercial and sales milestone payments, totaling a potential consideration of $850 million, which will significantly support TJ Biopharma's R&D efforts.
- Deepening Clinical Collaboration: This transaction builds on the successful collaboration between TJ Biopharma and Biogen, with both companies achieving positive progress in Phase 3 trials for IgAN and PMN since April 2025, demonstrating the broad applicability of felzartamab in the Chinese market.
- Significant Market Potential: China is believed to have the largest patient population for IgAN and PMN, and Biogen's acquisition will help accelerate the advancement of innovative treatment options to meet the growing market demand, further solidifying its leadership position in the global biopharmaceutical industry.
See More
Stock Performance Analysis of Multiple Companies
- AES Corporation Stock Rating: Analysts describe AES Corporation's stock as incredibly attractive, stating it is 'ridiculously cheap' and recommending investors consider buying, which could lead to significant returns in the future.
- InterDigital Market Outlook: While InterDigital is viewed primarily as a telecom stock rather than an AI play, analysts express optimism about its performance, suggesting that the recent price drop presents a good opportunity for investors, potentially drawing renewed interest.
- Infleqtion Investment Strategy: Infleqtion's stock has experienced a parabolic rise, with analysts advising investors to take profits at high levels and buy back at lower prices to achieve better investment returns.
- Biogen Upgrade Analysis: Biogen recently received an upgrade from Wells Fargo, with analysts highlighting its potential across multiple revenue streams, including Alzheimer's, suggesting that its future performance merits reevaluation and indicating strong growth prospects.
See More
Midday Market Moves: Notable Stock Fluctuations
- Stanley Black & Decker Surge: Stanley Black & Decker's stock rose over 4% after the company stated that recent changes to Section 232 tariffs would not materially impact its full-year forecast, indicating strong confidence in its financial outlook.
- Fermi Stock Plunge: Shares of energy infrastructure developer Fermi fell more than 22% following the resignation of CFO Miles Everson and the recent departure of CEO Toby Neugebauer, raising concerns about the company's leadership stability and future direction.
- Biogen's Strategic Move: Biogen's stock increased nearly 3% after agreeing to pay $850 million for exclusive rights to sell felzartamab in China, which underscores its strategic expansion in the immune-related disease treatment market.
- Fertilizer Stocks Fluctuate: Fertilizer stocks experienced volatility as CF Industries rose nearly 2% due to ongoing shipping disruptions in the Strait of Hormuz, while Dow and LyondellBasell Industries also saw gains of about 4% and 2%, respectively, reflecting market reactions to supply chain challenges.
See More
Biogen Acquires Exclusive Rights for Felzartamab in Greater China
- Significant Deal Value: Biogen has reached a deal worth up to $850 million with TJ Bio to acquire exclusive rights for felzartamab in Greater China, demonstrating the company's strong investment intent in the biopharmaceutical sector.
- Upfront Payment Structure: Under the agreement, Biogen will pay $100 million upfront to Hangzhou-based TJ Bio, which it plans to record as an in-process R&D expense in Q2 2026, reflecting the company's commitment to new drug development.
- Potential for Substantial Earnings: In addition to the upfront payment, TJ Bio is entitled to receive up to $750 million in additional payments based on commercial and sales milestones, which not only enhances Biogen's market competitiveness but also lays the groundwork for future revenue growth.
- Global Clinical Trial Progress: Biogen has initiated global Phase 3 trials for felzartamab targeting immune-related conditions, including IgA nephropathy, further solidifying its position in the global biopharmaceutical market.
See More
Biogen Boosted by Focus on Kidney Transplant Drugs, Rating Upgraded
- Rating Upgrade: Wells Fargo upgraded Biogen's stock rating from equal weight to overweight and raised its price target from $200 to $250, indicating a potential upside of approximately 41% from Friday's close, reflecting a positive outlook on the company's growth prospects.
- New Revenue Streams: Analyst Mohit Bansal highlighted that Biogen's late-stage pipeline now includes therapies for lupus and antibody-mediated rejection (AMR) treatments for kidney transplant patients, which will reduce reliance on neurology treatments, with an estimated adjusted sales of around $2.5 billion by 2035.
- Competitive Response: In light of rising competition in the multiple sclerosis (MS) drug market, Biogen's strategic pivot towards immunology and kidney treatments is expected to create new growth avenues, with promising clinical trial data supporting the differentiation of these new drugs.
- Future Catalysts: Analysts are optimistic about important immunology and kidney catalysts in the next 12-18 months, believing that investigational drugs like litifilimab, felzartamab, and dapirolizumab present large and currently underappreciated opportunities for the company.
See More
Biogen Acquires Exclusive Rights to Felzartamab in Greater China
- Acquisition Agreement: Biogen has entered into a definitive agreement to acquire TJ Bio's exclusive rights to felzartamab in the Greater China Region, marking a strategic expansion in the field of immune-mediated diseases.
- Significant Payment Commitment: Biogen will make a $100 million upfront payment and is eligible for up to $750 million in potential commercial and sales milestone payments, totaling a potential consideration of up to $850 million, indicating strong recognition of the drug's market potential.
- Global Clinical Research: Felzartamab is currently undergoing global Phase 3 clinical studies, with Biogen assuming full responsibility for milestone payments and royalty obligations, further solidifying its leadership position in the biopharmaceutical sector.
- Market Reaction: Despite the acquisition agreement, Biogen's shares fell 1.21% in pre-market trading on NasdaqGS to $175.20, reflecting a cautious market sentiment regarding the deal.
See More
