La catena delle opzioni mostra i dati chiave delle opzioni azionarie di Biogen a vari prezzi di esercizio e date di scadenza. I trader utilizzano queste informazioni per analizzare potenziali operazioni e valutare il sentiment del mercato per Biogen..

Biogen (NASDAQ:BIIB) Azioni, Catena delle Opzioni

BIOGEN INC

Biogen

Biogen and Idec merged in 2003, combining forces to market Biogen's multiple sclerosis drug Avonex and Idec's cancer drug Rituxan. Today, Rituxan and next-generation antibody Gazyva (oncology) and Ocrevus (multiple sclerosis) are marketed via a collaboration with Roche. Biogen markets several multiple sclerosis drugs including Plegridy, Tysabri, Tecfidera, and Vumerity. Biogen's newer products include Spinraza (SMA, with partner Ionis), Leqembi (Alzheimers, with partner Eisai), Skyclarys (Friedreich's Ataxia, Reata), Zurzuvae (postpartum depression, Sage), and Qalsody (ALS, Ionis). Biogen has several drug candidates in phase 3 trials in neurology, immunology, and rare diseases.

<ul>
<li>Global Phase 3 PROMINENT study will evaluate the efficacy and safety of felzartamab, as compared to tacrolimus, in adults with primary membranous nephropathy (PMN)</li>
<li>There are currently no therapies specifically approved for PMN, a rare immune-mediated disease affecting the kidneys with an estimated prevalence of ~36k patients in the U.S.</li>
<li>Felzartamab, an investigational anti-CD38 monoclonal antibody, is a potentially differentiated therapeutic candidate with promise for a broad range of immune-mediated diseases &nbsp;</li>
</ul>
CAMBRIDGE, Mass., June 30, 2025 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=xpucNuq5lSnYJgRfRzFrTtFin8SCqxz8Dbc87J1HdvS90khSiKrbBzKE3mm7pEadONRZSUo7cBlQl8mCBmkg_w==">Biogen</a> Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) – announced the initiation of dosing in the global clinical study, PROMINENT. The Phase 3 study will evaluate the efficacy and safety of the investigational drug felzartamab compared to tacrolimus in adults diagnosed with primary membranous nephropathy (PMN). PROMINENT is designed to enroll approximately 180 adults with PMN and expected to readout in 2029. PMN is a severe antibody-mediated disease of the kidney that is a leading cause of nephrotic syndrome and carries a significant risk of kidney failure.
Felzartamab is an anti-CD38 antibody that has been shown in clinical studies to selectively deplete CD38+ cells, including plasma cells, the source of autoantibodies that mistakenly attack the body's own tissues in a range of immune-mediated diseases. Importantly for felzartamab, it is estimated that up to 80% of PMN patients have autoantibodies against PLA2R (aPLA2R) generated by CD38-expressing plasma cells. Currently, there are no approved treatments for PMN and the standard of care includes treatments ranging from immunosuppressants to chemotherapy.

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BIIB

Biogen Initiates Dosing In Global Clinical Study, PROMINENT, For Treatment Of Primary Membranous Nephropathy

<ul>
<li>New analyses from DEVOTE Part C further characterize the improvements in motor function in participants with SMA who transitioned to the investigational higher dose regimen of nusinersen from 12 mg SPINRAZA&#xAE; (nusinersen)</li>
<li>Final results from the landmark NURTURE study highlight the profound impact of early treatment with 12 mg SPINRAZA in clinically presymptomatic SMA with 92% of children achieving the ability to walk independently</li>
</ul>
CAMBRIDGE, Mass., June 27, 2025 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=MUE2FgNF2AzQ6DuKYNw42_zpMpOWDJgWhkY0pU2uOEbkJlEOIv9o8y8rjgZ5_lnKewa5Geetdx0Wuen6daoeJg==">Biogen Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) today announced new data that reinforce the clinical impact of nusinersen across a broad spectrum of individuals affected by spinal muscular atrophy (SMA). These latest findings from Part C of the DEVOTE trial evaluating a higher dose regimen of nusinersen and the NURTURE trial which evaluated the approved 12 mg regimen (SPINRAZA&#xAE;) in clinically presymptomatic SMA were presented at the SMA Research &amp; Clinical Care Meeting hosted by Cure SMA in Anaheim, Calif. Biogen's applications for the higher dose regimen of nusinersen are currently under review in the U.S., Europe, Japan and other global markets. The higher dose regimen of nusinersen comprises a more rapid loading regimen – two 50 mg doses 14 days apart – and a higher maintenance regimen – 28 mg every four months.
Improvements Observed With Higher Dose Regimen of Nusinersen in Previously Treated Patient Population Detailed results from Part C of the DEVOTE study highlight the potential clinical benefits of an investigational higher dose of nusinersen in a broad range of individuals (n=38) who had been previously treated with nusinersen at the approved 12 mg dose for approximately four years (median: 3.9 years). Participants were 4 to 65 years of age and half (n=19) were ambulatory. Participants in Part C received one loading dose (50 mg) and two maintenance doses (28 mg each) of open-label higher dose nusinersen during the study period.
Most participants experienced improvements on the Hammersmith Functional Motor Scale – Expanded (HFMSE), Revised Upper Limb Module (RULM), and/or Clinical Global Impression of Change (CGI-C; assessed by investigator or caregiver) after transitioning to the higher dose regimen. These improvements were observed across phenotypes, functional status and age. For example, non-ambulatory participants improved by +2.5 (95% CI: 0.49, 4.56) on average on the HFMSE, and ambulatory participants improved by +1.1 (95% CI: -0.68, 2.89).
"These emerging data indicate that additional gains in function might be possible even in those with established disease who have been on therapy for years," said Richard Finkel, M.D., director, Center for Experimental Neurotherapeutics (CENT) at&nbsp;St. Jude&nbsp;Children's Research Hospital. "This effort to optimize the dosing of SPINRAZA is very exciting for the field and could fundamentally change how we treat our patients."
The safety profile of the higher dose regimen of nusinersen is broadly consistent with the known safety profile of 12 mg SPINRAZA. In the DEVOTE study overall, reported adverse events (AEs) included pneumonia, respiratory failure, pyrexia, COVID, upper respiratory tract infection, procedural pain and procedural headache. In Part C (n=40), AEs were reported in 37/40 participants, the majority of which were mild or moderate in severity. Serious AEs were reported by six participants (15%), none of which were considered by the investigator to be related to study treatment or administration.
Final NURTURE Data Redefine Expectations for Early Treatment Final data from the eight-year, open-label NURTURE study highlight the impact of early intervention with 12 mg SPINRAZA in clinically presymptomatic infants with SMA.
At the study conclusion, all children who participated in NURTURE (n=25) were alive and experienced continued clinical benefits over the course of the study. No participants required permanent ventilation, and the majority (20 of 25 participants) went without any ventilatory support throughout the study. Ninety-two percent of participants achieved the ability to walk independently, many within normal developmental timeframes. Participants with elevated levels of neurofilament light chain (NfL) at baseline experienced rapid and sustained reductions in NfL after initiation of nusinersen, reinforcing the potential utility of NfL as an objective biomarker of disease activity and treatment response in SMA.
Nusinersen was generally well tolerated with no new safety concerns identified with eight years of follow-up. All participants had at least one AE, the majority of which were mild to moderate in severity; no AEs led to treatment discontinuation or study withdrawal.

Biogen Says New Analyses From DEVOTE Part C Further Characterize Improvements In Motor Function In Participants With SMA Who Transitioned To Investigational Higher Dose Regimen Of Nusinersen From 12 Mg SPINRAZA

RBC Capital analyst Brian Abrahams reiterates Biogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) with a Outperform and maintains $213 price target.

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RBC Capital Reiterates Outperform on Biogen, Maintains $213 Price Target

HC Wainwright &amp; Co. analyst Andrew Fein reiterates Biogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) with a Buy and maintains $187 price target.

HC Wainwright & Co. Reiterates Buy on Biogen, Maintains $187 Price Target

Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) on Wednesday announced<a href="https://www.globenewswire.com/news-release/2025/06/25/3104985/0/en/Biogen-to-Advance-Investigational-Spinal-Muscular-Atrophy-Asset-to-Registrational-Studies-Based-on-Positive-Interim-Phase-1-Results.html"> in</a> a press release the topline results from the Phase 1 study of salanersen (BIIB115/ION306), an antisense oligonucleotide (ASO) being developed for <a href="https://www.benzinga.com/general/biotech" target="_blank" rel="noreferrer noopener">spinal muscular atrophy (SMA)</a>.
Biogen licensed the global development, manufacturing and commercialization rights for salanersen from Ionis Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IONS#NASDAQ">IONS</a>). Salanersen was discovered by Ionis.
Leveraging the same mechanism of action as Spinraza (nusinersen) but designed to achieve greater potency, salanersen can achieve high efficacy and enable once-a-year dose.
Also Read: <a target="_blank" href="https://www.benzinga.com/m-a/25/06/45949485/supernus-pharma-acquires-maker-of-postpartum-depression-drug-zurzuvae-in-795-million-deal" rel="noreferrer noopener">Supernus Pharma Acquires Maker Of Postpartum Depression Drug Zurzuvae In $795 Million Deal</a>
An interim analysis of the phase one study in participants with SMA who were previously treated with Novartis AG&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) gene therapy, Zolgensma (onasemnogene abeparvovec), was conducted to inform the decision on whether to move salanersen forward <a href="https://www.benzinga.com/pressreleases/25/06/g46091748/biogen-to-advance-investigational-spinal-muscular-atrophy-asset-to-registrational-studies-based-on" target="_blank" rel="noreferrer noopener">into registrational studies</a>.
Both dose levels tested, 40 mg and 80 mg, given once a year, were generally well-tolerated and led to substantial slowing of neurodegeneration, as shown by reductions in neurofilament.
Exploratory clinical outcome data show clinically meaningful improvements in function and attainment of new World Health Organization (WHO) milestones over one year.
Interim results are from part B (n=24) in individuals who received either 40 mg or 80 mg salanersen once a year.
In participants with elevated baseline concentrations of neurofilament light chain (NfL), indicating ongoing neurodegeneration, initiation of salanersen led to mean reductions in NfL of 70% at six months, which were sustained through the one-year dosing interval.
Exploratory clinical outcome data were evaluated for the subgroup of participants with at least one year of follow-up during the interim analysis (n=8 participants aged 2-12 who received 40 mg of salanersen). Half (four out of eight) of these participants achieved new WHO motor milestones they could not previously achieve on their own or required assistance, such as walking, crawling, standing or sitting.
Furthermore, these participants experienced clinically meaningful improvements in motor function from baseline to one year, including a 3.3-point (SD 4.46) mean improvement from baseline on the Hammersmith Functional Motor Scale – Expanded (HFMSE) and a 5.3 point (SD 4.75) improvement on the Revised Upper Limb Module (RULM).
Biogen is currently engaging with global health authorities regarding the design of the phase 3 studies.
Earlier in June, Biogen initiated dosing in the BRAVE phase 3 study to evaluate the efficacy and safety of omaveloxolone in children with Friedreich ataxia (FA) between <a href="https://www.benzinga.com/pressreleases/25/06/g45992415/biogen-initiates-phase-3-pediatric-study-of-omaveloxolone-for-the-treatment-of-friedreich-ataxia" target="_blank" rel="noreferrer noopener">the ages of 2 to &lt;16</a>.
Both non-ambulatory and ambulatory participants may qualify for the study.
Currently, omaveloxolone is commercialized under the brand name Skyclarys in over 40 countries, including the U.S. and the European Union, and is the only approved product for FA in adults and adolescents aged 16 years and older.
BIIB Price Action: Biogen stock is up 0.58% at $127.04 at publication on Wednesday.
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Biogen-Ionis Partnered Drug Shows Benefit In Children With Spinal Muscular Atrophy Previously Treated With Novartis' Zolgensma

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul class="wp-block-list">
<li>Morgan Stanley raised TD SYNNEX Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>) price target from $145 to $155. Morgan Stanley analyst Erik Woodring maintained an Overweight rating. TD SYNNEX shares closed at $136.88 on Tuesday. <a href="https://www.benzinga.com/quote/SNX/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Citigroup cut the price target for FedEx Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FDX#NYSE">FDX</a>) from $267 to $259. Citigroup analyst Ariel Rosa maintained a Buy rating. FedEx shares closed at $229.51 on Tuesday. See how other analysts <a href="https://www.benzinga.com/quote/FDX/analyst-ratings">view this stock</a>.</li>
<li>Loop Capital raised NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) price target from $175 to $250. Loop Capital analyst Ananda Barush maintained a Buy rating. Nvidia shares closed at $147.90 on Tuesday. <a href="https://www.benzinga.com/quote/NVDA/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JP Morgan boosted the price target for Guidewire Software, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GWRE#NYSE">GWRE</a>) from $271 to $288. JP Morgan analyst Alexei Gogolev maintained an Overweight rating. Guidewire Software shares closed at $237.45 on Tuesday. <a href="https://www.benzinga.com/quote/GWRE/analyst-ratings">See how other analysts view this stock.</a></li>
<li>TD Cowen raised the price target for General Dynamics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GD#NYSE">GD</a>) from $290 to $300. TD Cowen analyst Gautam Khanna maintained a Buy rating. General Dynamics shares closed at $281.05 on Tuesday. <a href="https://www.benzinga.com/quote/GD/analyst-ratings">See how other analysts view this stock.</a></li>
<li>DA Davidson cut Duolingo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DUOL#NASDAQ">DUOL</a>) price target from $600 to $500. DA Davidson analyst Wyatt Swanson maintained a Buy rating. Duolingo shares settled at $422.79 on Tuesday. <a href="https://www.benzinga.com/quote/duol/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel raised Carnival Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCL#NYSE">CCL</a>) price target from $33 to $34. Stifel analyst Steven Wieczynski maintained a Buy rating. Carnival shares closed at $25.70 on Tuesday. <a href="https://www.benzinga.com/quote/ccl/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Wedbush increased Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) price target from $515 to $600. Wedbush analyst Daniel Ives maintained an Outperform rating. Microsoft shares closed at $490.11 on Tuesday.  <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>UBS cut the price target for Constellation Brands, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>) from $205 to $195. UBS analyst Peter Grom maintained a Buy rating. Constellation shares settled at $164.49 on Tuesday. <a href="https://www.benzinga.com/quote/STZ/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>RBC Capital increased Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) price target from $205 to $213. RBC Capital analyst Brian Abrahams maintained an Outperform rating. Biogen shares closed at $126.31 on Tuesday. <a href="https://www.benzinga.com/quote/BIIB/analyst-ratings">See how other analysts view this stock</a>.</li>
</ul>
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Nvidia To Rally Around 69%? Here Are 10 Top Analyst Forecasts For Wednesday

RBC Capital analyst Brian Abrahams maintains Biogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) with a Outperform and raises the price target from $205 to $213.

RBC Capital Maintains Outperform on Biogen, Raises Price Target to $213

<ul>
<li>Salanersen (BIIB115/ION306) is a novel antisense oligonucleotide (ASO) with the potential to achieve high efficacy and once yearly dosing in spinal muscular atrophy (SMA)</li>
<li>Interim Phase 1 data show children with SMA previously treated with gene therapy experienced a substantial slowing of neurodegeneration and clinically meaningful improvements in motor function following initiation of salanersen</li>
<li>Based on these encouraging Phase 1 data, Biogen is engaging with regulators to advance salanersen to registrational stage studies, building on extensive experience in SMA &nbsp;</li>
</ul>
CAMBRIDGE, Mass., June 25, 2025 (GLOBE NEWSWIRE) -- <a href="https://www.globenewswire.com/Tracker?data=mqiGWYMuKfEonBYy6qMH-_1QrPITPn3OfJOt0ipADJSKUxY8-i9HvsJlmdCbsNsl39Ta1psj5YPS_0RxQ_acvg==">Biogen</a> Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) announced topline results from the Phase 1 study of salanersen (BIIB115/ION306), an antisense oligonucleotide (ASO) being developed for the treatment&nbsp;of spinal muscular atrophy (SMA). Leveraging the same mechanism of action as SPINRAZA (nusinersen) but designed to achieve greater potency, salanersen has the potential to achieve high efficacy and enable once yearly dosing. An interim analysis of the Phase 1 study in participants with SMA who were previously treated with gene therapy was conducted to inform the decision on whether to move salanersen forward into registrational studies. Both dose levels tested, 40 mg and 80 mg, given once a year, were generally well-tolerated and led to substantial slowing of neurodegeneration, as shown by reductions in neurofilament. Exploratory clinical outcome data shows clinically meaningful improvements in function and attainment of new World Health Organization (WHO) milestones over 1 year. These data will be presented today at the SMA Research &amp; Clinical Care Meeting hosted by Cure SMA in Anaheim, Calif.

Biogen Announces Topline Results From Phase 1 Study Of Salanersen, Antisense Oligonucleotide Being Developed For Treatment Of Spinal Muscular Atrophy

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fionis.com%2F&amp;esheet=54281950&amp;newsitemid=20250625591486&amp;lan=en-US&amp;anchor=Ionis+Pharmaceuticals%2C+Inc.&amp;index=1&amp;md5=170ceac2a025b1dbda3decf050844ab4">Ionis Pharmaceuticals, Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IONS#NASDAQ">IONS</a>) today announced that its partner, Biogen, shared positive topline results from the Phase 1 study of salanersen (ION306/BIIB115), an investigational antisense oligonucleotide (ASO) being developed for the potential treatment of spinal muscular atrophy (SMA). Leveraging the same mechanism of action as SPINRAZA&#xAE; (nusinersen) but designed to achieve greater potency, salanersen has the potential to achieve high efficacy and enable once-yearly dosing. Both dose levels tested, 40 mg and 80 mg, given once a year, were generally well-tolerated and led to substantial slowing of neurodegeneration, as shown by reductions in neurofilament. Exploratory clinical outcome data show clinically meaningful improvements in function and attainment of new World Health Organization (WHO) milestones over one year. These data will be presented today at the SMA Research &amp; Clinical Care Meeting hosted by Cure SMA in Anaheim, Calif.
The Phase 1 single ascending dose study was designed to evaluate the safety, tolerability and pharmacokinetics of salanersen. The trial consisted of two parts: Part A, a randomized and placebo-controlled segment in healthy adult male volunteers and Part B, an open-label segment in pediatric participants with SMA who previously received ZOLGENSMA&#xAE; (onasemnogene abeparvovec) and had investigator-reported suboptimal clinical status. Interim results are from Part B (n=24) in individuals who received either 40 mg or 80 mg salanersen once a year. In participants with elevated baseline concentrations of neurofilament light chain (NfL), indicating ongoing neurodegeneration, initiation of salanersen led to mean reductions in NfL of 70% at 6-months which were sustained through the one-year dosing interval.

Ionis and Biogen Report Early Success With Once-Yearly SMA Treatment Showing Strong Safety and Efficacy Signals

Biogen Launches Global Phase 3 BRAVE Study Of SKYCLARYS For Pediatric Friedreich Ataxia Patients Aged 2 To Under 16

Biogen's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NYSE">BIIB</a>) short percent of float has risen 13.95% since its last report. The company recently reported that it has 3.80 million shares sold short, which is 3.35% of all regular shares that are available for trading. Based on its trading volume, it would take traders 2.13 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">List of the most shorted stocks</a>
<h3>Biogen Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1750190437_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Biogen has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Biogen's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>, Biogen's peer group average for short interest as a percentage of float is 6.94%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze?adType=benzinga-insights&amp;ad=short-interest&amp;campaign=wallstreetadvantage">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

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What Does the Market Think About Biogen?

Supernus Pharmaceuticals, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SUPN#NASDAQ">SUPN</a>) on Monday agreed to acquire Sage Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) for $12.00 per share in cash, or an aggregate of up to <a target="_blank" href="https://www.benzinga.com/pressreleases/25/06/g45945434/supernus-pharmaceuticals-to-acquire-sage-therapeutics-strengthening-its-neuropsychiatry-product-po" rel="noreferrer noopener">approximately $795 million</a>.
The deal consideration includes $8.50 per share in cash (or an aggregate of approximately $561 million) plus one non-tradable contingent value right (CVR) collectively worth up to $3.50 per share in cash (or an aggregate of approximately $234 million).
The CVR is payable upon achieving certain net sales and commercial milestones. The transaction is expected to close in the third quarter of 2025.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/02/43815436/supernus-pharmaceuticals-stock-falls-on-disappointing-data-from-treatment-resistant-depression-trial" rel="noreferrer noopener">Supernus Pharmaceuticals Stock Falls On Disappointing Data From Treatment-Resistant Depression Trial</a>
<h2 class="wp-block-heading">Strategic and Financial Benefits</h2>
The acquisition significantly strengthens Supernus Pharmaceuticals&#8217; psychiatry portfolio by adding Zurzuvae (zuranolone) capsules CIV, a landmark drug that stands as the first and only oral medicine approved by the FDA for treating postpartum depression in adults.
This strategic addition is set to diversify and substantially increase Supernus Pharmaceuticals&#8217; revenue base and cash flow. The financial impact is already evident from the collaboration revenue derived from Zurzuvae&#8217;s net sales, which, representing 50% of the net revenue recorded by Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>), amounted to $36.1 million for the full year 2024 and $13.8 million in the first quarter of 2025 alone.
Supernus believes that with Zurzuvae joining its three other key growth products, Qelbree, ONAPGO, and GOCOVRI, the company is poised for significant future growth.
Beyond the immediate commercial benefits, the deal also augments Supernus Pharmaceuticals&#8217; central nervous system (CNS) discovery platforms and deepens its expertise in the field.
Furthermore, the strong integration potential with Supernus Pharmaceuticals&#8217; existing infrastructure is expected to yield substantial operational efficiencies, with projected annual cost synergies of up to $200 million.
&#8220;This acquisition represents a major step in bolstering our future growth. It augments our growth profile by adding a significant fourth growth product to our portfolio and further diversifies our sources of future growth. Zurzuvae aligns with our focus of acquiring novel value-enhancing and clinically differentiated medicines to treat CNS conditions,&#8221; said Jack Khattar, president and CEO of Supernus Pharmaceuticals.
In a significant development <a href="https://www.benzinga.com//node/42957657">preceding the acquisition</a> by Supernus Pharmaceuticals, Biogen Inc. had made an unsolicited, non-binding proposal to acquire all of the outstanding shares of Sage Therapeutics that it did not already own. The offer was made on January 10, 2025, for a price of $7.22 per share.
In October 2024, Sage Therapeutics announced a strategic reorganization of its business operations to support the ongoing launch of Zurzuvae (zuranolone)&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41376682/sage-therapeutics-announces-strategic-reorganization-to-prioritize-zurzuvae-commercialization-and-" rel="noreferrer noopener">in postpartum depression</a>.
The company said the reorganization was intended to strengthen Sage&#8217;s balance sheet, extend its cash runway, and position the company for long-term growth potential.
The company&#8217;s layoff impacted over 165 employees (approximately 33% of its total workforce and approximately 55% of its R&amp;D workforce), including changes to&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/10/41382549/after-series-of-trial-setbacks-sage-therapeutics-to-lay-off-one-third-workforce" rel="noreferrer noopener">the leadership team</a>.
In September 2024, Biogen terminated its rights under the collaboration and license agreement with Sage, which was specific to the&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/41049022/biogen-terminates-collaboration-with-sage-therapeutics-for-neurological-disorder-candidate" rel="noreferrer noopener">SAGE-324 program</a>.
Price Action: SAGE stock was trading higher by 36.3% to $9.13 at last check Monday.
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</ul>
Photo Courtesy: S Prodution on Shutterstock.com

Movers

SAGE

SUPN

Supernus Pharma Acquires Maker Of Postpartum Depression Drug Zurzuvae In $795 Million Deal

Piper Sandler analyst David Amsellem reiterates Biogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) with a Neutral and maintains $115 price target.

Piper Sandler Reiterates Neutral on Biogen, Maintains $115 Price Target

UCB&nbsp;SA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/UCBJY#OTC">UCBJY</a>) (OTC:<a class="ticker" href="https://www.benzinga.com/stock/UCBJF#OTC">UCBJF</a>) (Euronext Brussels: UCB) and&nbsp;Biogen Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) on Thursday presented additional detailed results from the Phase 3 PHOENYCS GO study evaluating <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">dapirolizumab pegol (DZP)</a>.
The companies released topline <a target="_blank" href="https://www.benzinga.com/general/biotech/24/09/41000544/biogenucb-partnered-autoimmune-disease-candidate-hits-primary-goal-in-late-stage-study-sets-stage" rel="noreferrer noopener">results in September 2024</a>.
UCB and Biogen unveiled detailed results from their Phase 3 PHOENYCS GO trial this week at EULAR 2025, showing that their investigational lupus drug dapirolizumab pegol (DZP) significantly improved disease activity and fatigue in patients with systemic lupus erythematosus (SLE). 
The data bolster Biogen's presence in immunology as the company also sharpens its focus on neuroscience, announcing a $46 million collaboration with City Therapeutics to develop RNAi therapies targeting central nervous system disorders. 
Together, the trial results and new partnership underscore Biogen's dual strategy: strengthening late-stage autoimmune assets while replenishing its early pipeline with next-gen CNS innovations.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/05/45147899/biogen-beats-q1-earnings-expectations-as-two-newcomer-drug-sales-spike-avoids-tariff-impact" rel="noreferrer noopener">Biogen Beats Q1 Earnings Expectations As Two Newcomer Drug Sales Spike, Avoids Tariff Impact</a>
These results were presented at EULAR 2025, the European Alliance of Associations for Rheumatology&#8217;s annual meeting.
DZP&#8217;s safety and efficacy in SLE have not been established, and no regulatory authority worldwide has approved its use in SLE.
In an analysis of the impact of DZP on patient-reported fatigue, individuals receiving DZP in addition to standard of care (SOC) treatment demonstrated improvements across two fatigue measurements:
In an additional analysis, improvements were seen on measures of low disease activity, as measured by Low Lupus Disease Activity State (LLDAS) and disease remission.
<ul class="wp-block-list">
<li>At Week 48, the percentage of participants achieving low disease activity in the DZP group was twice that of the SOC-only group (40.9% and 19.6%, respectively).</li>
<li>23.6% of participants receiving DZP plus SOC achieved low disease activity in ≥50% of visits through 48 weeks compared with 15.9% receiving SOC alone.</li>
<li>A higher proportion of those receiving DZP (19.2%) versus SOC alone (8.4%) also achieved disease remission at Week 48.</li>
</ul>
Participants from the PHOENYCS GO study will continue to be followed in a long-term open-label study. A second Phase 3 trial of dapirolizumab pegol, PHOENYCS FLY, is ongoing.
In May, Biogen and City Therapeutics, Inc., a privately held biopharmaceutical company, announced a strategic collaboration to develop <a target="_blank" href="https://www.benzinga.com/pressreleases/25/05/g45614561/biogen-and-city-therapeutics-announce-strategic-research-collaboration-to-develop-select-novel-rna" rel="noreferrer noopener">select novel RNAi therapies</a>.
The collaboration will initially focus on a single target that mediates key central nervous system diseases. Biogen will be responsible for IND-enabling studies and global clinical development along with any regulatory submissions and all activities related to commercialization.
City Therapeutics will receive $46 million in payments, including a $16 million upfront payment and an investment of $30 million in exchange for a City Therapeutics convertible note, representing a minority equity interest in the company if converted.
Biogen will record the upfront payment as an Acquired In-Process Research and Development expense in the second quarter of 2025.
Should the initial program achieve certain development and commercial milestones, City Therapeutics can receive up to approximately $1 billion in potential milestone payments plus tiered royalties in the high single-digit to low double-digit range based on net sales.
Biogen will have the option to select one additional target in the collaboration, subject to an additional payment and availability of the target.
Price Action: BIIB stock is up 0.74% at $134.05 at the last check on Thursday.
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</ul>
Image: Shutterstock

UCBJF

UCBJY

Biogen, UCB Take A Leap In Lupus With Promising Phase 3 Results

Wedbush analyst Laura Chico reiterates Biogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) with a Neutral and maintains $121 price target.

Wedbush Reiterates Neutral on Biogen, Maintains $121 Price Target

Analysts' ratings for Biogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) over the last quarter vary from bullish to bearish, as provided by 11 analysts.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">4</td>
<td align="right">4</td>
<td align="right">3</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">4</td>
<td align="right">4</td>
<td align="right">2</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $190.82, a high estimate of $255.00, and a low estimate of $115.00. This current average has decreased by 10.94% from the previous average price target of $214.27. 
<img src="https://www.benzinga.com/files/images/story/2025/1749729668_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
The perception of Biogen by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Salim Syed</td>
<td>Mizuho</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$169.00</td>
<td>$207.00</td>
</tr>
<tr>
<td>Chris Schott</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$175.00</td>
<td>$185.00</td>
</tr>
<tr>
<td>Brian Abrahams</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$205.00</td>
<td>$217.00</td>
</tr>
<tr>
<td>Sumant Kulkarni</td>
<td>Canaccord Genuity</td>
<td>Lowers</td>
<td>Buy</td>
<td>$220.00</td>
<td>$265.00</td>
</tr>
<tr>
<td>Andrew Fein</td>
<td>HC Wainwright &amp; Co.</td>
<td>Lowers</td>
<td>Buy</td>
<td>$187.00</td>
<td>$241.00</td>
</tr>
<tr>
<td>Brian Skorney</td>
<td>Baird</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$255.00</td>
<td>$300.00</td>
</tr>
<tr>
<td>Srikripa Devarakonda</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Buy</td>
<td>$199.00</td>
<td>$210.00</td>
</tr>
<tr>
<td>Christopher Raymond</td>
<td>Piper Sandler</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$115.00</td>
<td>$135.00</td>
</tr>
<tr>
<td>Salveen Richter</td>
<td>Goldman Sachs</td>
<td>Lowers</td>
<td>Buy</td>
<td>$197.00</td>
<td>$219.00</td>
</tr>
<tr>
<td>Brian Abrahams</td>
<td>RBC Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$225.00</td>
<td>$221.00</td>
</tr>
<tr>
<td>Matthew Harrison</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$152.00</td>
<td>$157.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to Biogen. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts unravel qualitative evaluations for stocks, ranging from 'Outperform' to 'Underperform'. These ratings offer insights into expectations for the relative performance of Biogen compared to the broader market.</li>
<li>Price Targets: Analysts provide insights into price targets, offering estimates for the future value of Biogen's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Biogen's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/BIIB/analyst-ratings?adType=benzinga-insights&amp;ad=analyst-ratings&amp;campaign=wallstreetadvantage">Stay up to date on Biogen analyst ratings.</a>
<h2>About Biogen</h2>
Biogen and Idec merged in 2003, combining forces to market Biogen's multiple sclerosis drug Avonex and Idec's cancer drug Rituxan. Today, Rituxan and next-generation antibody Gazyva (oncology) and Ocrevus (multiple sclerosis) are marketed via a collaboration with Roche. Biogen markets several multiple sclerosis drugs including Plegridy, Tysabri, Tecfidera, and Vumerity. Biogen's newer products include Spinraza (SMA, with partner Ionis), Leqembi (Alzheimers, with partner Eisai), Skyclarys (Friedreich's Ataxia, Reata), Zurzuvae (postpartum depression, Sage), and Qalsody (ALS, Ionis). Biogen has several drug candidates in phase 3 trials in neurology, immunology, and rare diseases.
<h3>Key Indicators: Biogen's Financial Health</h3>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
Revenue Growth: Biogen's revenue growth over a period of 3M has been noteworthy. As of 31 March, 2025, the company achieved a revenue growth rate of approximately 6.13%. This indicates a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Health Care sector.
Net Margin: Biogen's net margin is impressive, surpassing industry averages. With a net margin of 9.89%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Biogen's ROE stands out, surpassing industry averages. With an impressive ROE of 1.43%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): Biogen's ROA stands out, surpassing industry averages. With an impressive ROA of 0.86%, the company demonstrates effective utilization of assets and strong financial performance.
Debt Management: Biogen's debt-to-equity ratio is below the industry average at 0.39, reflecting a lower dependency on debt financing and a more conservative financial approach.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://www.benzinga.com/pro/">Benzinga Pro</a>.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Demystifying Biogen: Insights From 11 Analyst Reviews

Needham analyst Ami Fadia reiterates Biogen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) from Hold to Hold.

Needham Reiterates Hold on Biogento Hold

<ul>
<li>Dapirolizumab pegol (DZP) showed efficacy across multiple clinical endpoints in the PHOENYCS GO study, including fatigue and measures of disease activity</li>
<li>DZP showed consistent improvements in fatigue, a common and debilitating symptom of systemic lupus erythematosus (SLE)</li>
<li>At Week 48, more individuals receiving DZP experienced no or low disease activity compared to standard of care with differences observed as early as Week 12</li>
</ul>

UCB And Biogen Present Broad Clinical Efficacy Of Dapirolizumab Pego In Moderate-To-Severe Systemic Lupus Erythematosus At EULAR

Biogen To Host Investor Seminar At 10:00 a.m. ET Focused On Potential Of Felzartamab In Immune-Mediated Diseases

Biogen And City Therapeutics Reveal Strategic Research Collaboration To Develop Select Novel RNAi-based Therapies

Press Releases

Biogen's Investigational Tau-Targeting Therapy BIIB080 Receives FDA Fast Track Designation for the Treatment of Alzheimer's Disease

Leqembi®∇ (lecanemab) is the First Medicine that Slows Progression of Early Alzheimer's Disease to be Authorized in the European Union

Jeito Capital Strengthens Leadership for Next Chapter of Growth: Mehdi Ainouche Promoted to Partner, Julien Elric to Senior Principal

Biogen and City Therapeutics Announce Strategic Research Collaboration to Develop Select Novel RNAi-based Therapies

Management

Entrada Therapeutics Appoints Maha Radhakrishnan, M.D., to its Board of Directors

Dapirolizumab Pegol Phase 3 Data in SLE Presented at the Annual European Congress of Rheumatology (EULAR) Show Improvement in Fatigue and Reduction in Disease Activity

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