Biogen Inc. ($BIIB) Stock Forecast: Down 8.2% Today

What is Biogen Inc.?

Biogen Inc. (NASDAQ: BIIB) is a biotechnology company specializing in treatments for neurological and neurodegenerative diseases. Recently, the stock saw a significant drop following regulatory obstacles in getting approval for its Alzheimer's disease drug, lecanemab, in the European Union.

Why is Biogen Inc. going down?

BIIB stock is down 8.2% on Jul 26, 2024 18:27

• The rejection of Biogen and Eisai's Alzheimer's drug, lecanemab, by the European Medicines Agency, citing concerns about its efficacy in early-stage Alzheimer's, led to a notable decrease in Biogen's stock value.
• The negative feedback from the Committee for Medicinal Products for Human Use (CHMP) highlighted the regulatory challenges faced by both companies, impacting investor trust in the drug's potential success.
• This rejection emphasizes the difficulties in creating effective Alzheimer's treatments and the necessity for strong clinical evidence to support approval, resulting in a pessimistic outlook on Biogen's stock.
• As attention shifts to Biogen's upcoming second-quarter earnings call, investors are eager to learn how the company plans to address this setback and navigate the regulatory environment for its Alzheimer's therapy.

BIIB Price Chart

BIIB Technical Analysis

BIIB News

EU regulator rejects Biogen, Eisai’s Alzheimer''s drug

The European Union''s drug regulator laid out why it decided not to approve an Alzheimer''s disease drug made by Eisai Inc. and Cambridge’s Biogen Inc. All eyes now move to Biogen''s second-quarter earnings call next week.

https://www.bizjournals.com/boston/news/2024/07/26/biogen-alz-drug-rejected-eu.html?ana=brss_2078

Lecanemab s Regulatory Review for Early Alzheimer s Disease Receives Negative Opinion in the European Union

In a recent announcement, Eisai Co., Ltd. and Biogen Inc. revealed that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has rejected the Marketing Authorization Approval (MAA) for lecanemab, a humanized anti-soluble aggregated amyloid-beta (A?) monoclonal antibody, as a treatment for early Alzheimer''s disease (AD). This decision comes as an unfortunate setback in the search for effective therapies to address the devastating cognitive decline associated with AD. Biogen Inc., the key player behind lecanemab, has also experienced a decline in its asset returns. Let''s delve into the details. Lecanemab Faces Regulatory Hurdles: The CHMP''s negative opinion on lecanemab''s MAA for treating mild cognitive impairment due to AD and mild AD is a significant setback for both Eisai Co., Ltd. and Biogen Inc. Lecanemab showed promising potential in targeting and reducing aggregated amyloid-beta plaques, a hallmark of AD pathology. However, based on the available clinical data, the CHMP concluded that the currently presented evidence was insufficient to demonstrate the antibody''s effectiveness in treating early stages of the disease.

https://csimarket.com/news/lecanemab-s-regulatory-review-for-early-alzheimer-s-disease-receives-negative-opinion-in-the-european-union2024-07-26112428

Why Is Biogen Stock Trading Lower On Friday? - Eisai Co ( OTC:ESALF ) , Biogen ( NASDAQ:BIIB )

On Friday, the Committee for Medicinal Products for Human Use ( CHMP ) of the European Medicines Agency ( EMA ) adopted a negative opinion on the approval of Eisai Co., Ltd ESALY ESALF and Biogen Inc.'s BIIB lecanemab.

https://www.benzinga.com/general/biotech/24/07/39985709/biogeneisais-alzheimers-drug-leqembi-gets-no-go-from-european-drug-regulators-advisory-panel-cite

European committee says Alzheimer’s treatment Leqembi shouldn’t get marketing approval

Shares of Biogen slid Friday after a European regulatory committee said the Alzheimer’s treatment Leqembi should not receive marketing approval. The European Medicines Agency committee said concerns about the drug’s potential side effects outweigh the impact it has in slowing the fatal, mind-robbing disease. Japanese drugmaker Eisai developed Leqembi and is co-marketing it with Cambridge, Massachusetts-based Biogen Inc. An Eisai executive said in a statement that company officials were “extremely disappointed,” and they will ask for a re-examination of the decision. The European Committee for Medicinal Products for Human Use recommended 14 new medicines for approval at its July meeting. Leqembi was the only one to receive a negative opinion. The treatment already has received approval in the United States, Japan, China, South Korea, Hong Kong and Israel. Leqembi clears a sticky brain plaque linked to the disease. A large study has shown that it slowed memory and thinking decline by several months in those who received the treatment compared to those who got a dummy drug.

https://www.kaaltv.com/news/business-news/european-committee-says-alzheimers-treatment-leqembi-shouldnt-get-marketing-approval/

European drug regulator rejects Alzheimer's treatment Leqembi from Biogen, Eisai

The committee said Leqembi's effect on delaying cognitive decline does not outweigh "the risk of serious side effects associated with the medicine." ...

https://www.cnbc.com/2024/07/26/biogen-eisai-alzheimers-drug-leqembi-rejected-by-european-regulator.html

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Biogen Inc. Price History

13.01.2024 - BIIB Stock was down 7.5%

• Biogen's Q4 2023 earnings call transcript and sales report revealed a decline in sales and adjusted EPS, falling short of expectations. This negative financial performance likely contributed to the downward movement in the stock.
• The increase in PRIMECAP Management's investment in Biogen initially generated some positive sentiment, but it appears to have been overshadowed by the negative impact of the earnings report.
• The stock's decline was further emphasized in several articles, with headlines highlighting the disappointment in Biogen's earnings and subsequent drop in stock price.
• The bearish movement in Biogen's stock was driven by the overall market sentiment towards biotech stocks and the company's specific financial performance.

14.01.2024 - BIIB Stock was down 7.3%

• In Q4, Biogen's sales and adjusted EPS fell short of expectations, disappointing investors.
• The decline in multiple sclerosis revenue also contributed to the bearish movement.
• A downgrade in rating and the failure to meet consensus on sales and EPS may have eroded investor confidence.
• The announcement of PRIMECAP Management increasing its stake in Biogen could offer some support, but it was insufficient to counter the overall bearish sentiment.

14.01.2024 - BIIB Stock was down 7.3%

• Several factors contribute to today's bearish movement in BIIB:
• 1. Disappointing Q4 earnings: Biogen's Q4 earnings fell below expectations, indicating strategic challenges. This has potentially decreased investor confidence, leading to selling pressure.
• 2. Rating downgrade: A downgrade to Biogen's rating has further weakened investor sentiment and contributed to the bearish movement.
• 3. Lack of positive news: While there have been mentions of Biogen's growth projections and cost-cutting measures, the absence of significant positive news or developments may have influenced the bearish market movement.
• 4. Overall market volatility: The biotechnology sector has experienced significant volatility, which could have impacted Biogen's stock price and intensified the bearish movement.
• In conclusion, the bearish movement in BIIB today can be attributed to disappointing earnings, a rating downgrade, lack of positive news, and the overall market volatility in the biotechnology sector.

29.01.2024 - BIIB Stock was down 1.7%

• BIIB stock experienced a decline greater than the overall market, finishing at $221.74, reflecting a -0.98% drop from the previous day's closing price.
• The Multiple Sclerosis market is witnessing advancements in innovative treatments, potentially affecting BIIB's competitive edge in this sector.
• Ginkgo Bioworks' acquisition of Patch Biosciences to bolster genetic medicine capabilities might have diverted attention from BIIB among investors.
• Ongoing legal investigations by Bragar Eagel & Squire, P.C. against Biogen Inc. could have contributed to the pessimistic sentiment surrounding the stock.

15.04.2024 - BIIB Stock was up 5.2%

• BIIB stock surged today due to the FDA granting fast-track designation for its Alzheimer's treatment developed in collaboration with Eisai.
• Eisai initiated the rolling submission of a Biologics License Application (BLA) for the Alzheimer's therapy to the FDA, contributing to the positive market sentiment towards BIIB.
• The advancements in BIIB's Alzheimer's treatment pipeline have increased investor confidence in the company's revenue prospects and competitive stance, resulting in a notable uptick in the stock's performance today.

25.03.2024 - BIIB Stock was down 1.9%

• Biogen posted better-than-expected earnings in the first quarter, surpassing consensus on adjusted EPS but falling short on sales, especially in the multiple sclerosis segment.
• Despite the optimistic earnings results, slow uptake of Biogen's Alzheimer's drug, Leqembi, stemming from doubts among medical professionals, has sparked concerns about future revenue growth.
• Analysts have adjusted their projections for Biogen, upholding their outperform rating on the stock despite the recent revenue dip, reflecting a mixed sentiment within the market.
• The notable downward movement in Biogen's stock today may be attributed to investors paying more attention to the decline in revenue and the challenges in adopting its key drugs rather than the positive earnings surprise.

31.04.2024 - BIIB Stock was up 5.3%

• BIIB stock rose following marketing authorization from the European Commission for Qalsody, a treatment for a rare genetic form of Amyotrophic Lateral Sclerosis (ALS).
• The approval of Qalsody contributed to increased investor confidence in Biogen's product pipeline and potential revenue growth.
• Despite a legal challenge in the form of a securities class action lawsuit, market sentiment was largely driven by the positive EU approval, leading to a bullish trend in BIIB stock.
• This approval highlights Biogen's dedication to addressing medical needs and expanding its range of therapies with innovative solutions.

14.01.2024 - BIIB Stock was down 7.3%

• The bearish movement in Biogen's stock today can be attributed to several factors:
• 1. Disappointing Q4 2023 earnings: Biogen reported lower-than-expected sales and adjusted earnings per share for the fourth quarter of 2023. This underperformance in financial results could have contributed to the bearish sentiment among investors.
• 2. Missed consensus estimates: Biogen's Q4 2023 sales and adjusted EPS fell short of market expectations, indicating potential concerns about the company's ability to meet growth targets. This disappointment may have led to a sell-off in the stock.
• 3. Market reaction to earnings call: Despite projecting growth amid new product launches and cost cuts, Biogen's earnings call may not have provided enough reassurance to investors. The market may have reacted negatively to any uncertainties or concerns raised during the call.
• 4. Overall market conditions: The broader market movement and sentiment can also influence Biogen's stock performance. If there were negative trends or concerns in the biotech sector or the overall market, it could have contributed to the bearish movement in Biogen's stock.
• In summary, Biogen's bearish movement today can be attributed to disappointing Q4 2023 earnings, missed consensus estimates, market reaction to the earnings call, and potential influence from broader market conditions.

13.01.2024 - BIIB Stock was down 7.3%

• Today's downturn in BIIB can be attributed to the following factors:
• 1. Underwhelming Q4 2023 earnings: BIIB's fourth-quarter sales and adjusted earnings fell below expectations. This may have eroded investor confidence, resulting in selling pressure on the stock.
• 2. Falling short of consensus estimates: The company's sales and adjusted EPS did not meet analysts' consensus estimates, indicating potential concerns about its financial performance. This could have prompted a negative sentiment among investors, contributing to the bearish movement.
• 3. Decline in multiple sclerosis revenue: BIIB experienced an 8% decrease in multiple sclerosis revenue during Q4 2023. This decline in a significant revenue-generating segment may have raised concerns about the company's ability to sustain growth and profitability.
• 4. Market volatility: The biotech stock market has exhibited volatility, with investors closely monitoring clinical trial outcomes and regulatory approvals. Any adverse news or uncertainty within the broader biotech sector may have influenced the bearish movement in BIIB.
• Overall, factors such as disappointing earnings, missed consensus estimates, declining multiple sclerosis revenue, and market volatility likely account for the bearish movement in BIIB today.

26.06.2024 - BIIB Stock was down 8.2%

• The rejection of Biogen and Eisai's Alzheimer's drug, lecanemab, by the European Medicines Agency, citing concerns about its efficacy in early-stage Alzheimer's, led to a notable decrease in Biogen's stock value.
• The negative feedback from the Committee for Medicinal Products for Human Use (CHMP) highlighted the regulatory challenges faced by both companies, impacting investor trust in the drug's potential success.
• This rejection emphasizes the difficulties in creating effective Alzheimer's treatments and the necessity for strong clinical evidence to support approval, resulting in a pessimistic outlook on Biogen's stock.
• As attention shifts to Biogen's upcoming second-quarter earnings call, investors are eager to learn how the company plans to address this setback and navigate the regulatory environment for its Alzheimer's therapy.

26.06.2024 - BIIB Stock was down 7.3%

• The rejection of Biogen's Alzheimer's treatment, Leqembi, by the European drug regulator, citing concerns about its effectiveness and serious side effects, likely influenced the bearish market activity in BIIB stock.
• The unfavorable updates on the regulatory evaluation of Lecanemab for Early Alzheimer's Disease in the European Union may have exacerbated investor uncertainty and pushed down the stock price.
• The ongoing inquiry by Bragar Eagel & Squire, P.C. into potential claims against Biogen Inc. might have raised doubts about the company's future, affecting investor confidence and contributing to the bearish market trend.

26.06.2024 - BIIB Stock was down 8.1%

• The rejection of the Marketing Authorization Approval (MAA) for lecanemab by the Committee for Medicinal Products for Human Use (CHMP) in the European Union has significantly impacted Biogen Inc.'s stock performance.
• The negative opinion on lecanemab's effectiveness in treating early Alzheimer's disease has raised concerns among investors about the future prospects of the drug and its potential market success.
• The regulatory hurdles faced by Biogen Inc. and its partner have highlighted the uncertainties surrounding the approval and commercialization of innovative therapies in the healthcare sector.
• The market's reaction to the news reflects the sensitivity of biopharmaceutical stocks to regulatory decisions and underscores the importance of robust clinical data in gaining approval for novel treatments.