Biogen Completes Acquisition of Apellis Pharmaceuticals
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 14 2026
0mins
Source: Newsfilter
Biogen Inc's stock fell 5.19% as it crossed below the 5-day SMA, reflecting a challenging market environment.
The company has successfully completed the acquisition of Apellis Pharmaceuticals, enhancing its market position in nephrology and expected to drive future revenue growth. Apellis' products, EMPAVELI® and SYFOVRE®, generated $689 million in net product revenue in 2025, which is anticipated to positively impact Biogen's non-GAAP diluted EPS. This acquisition allows Biogen to leverage Apellis' established infrastructure to expedite the launch readiness for felzartamab, with the first Phase 3 trial readout expected in the first half of 2027.
This strategic acquisition is expected to enhance Biogen's financial performance and boost investor confidence, despite the current stock decline.
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Analyst Views on BIIB
Wall Street analysts forecast BIIB stock price to fall
26 Analyst Rating
11 Buy
14 Hold
1 Sell
Moderate Buy
Current: 208.460
Low
143.00
Averages
204.45
High
246.00
Current: 208.460
Low
143.00
Averages
204.45
High
246.00
About BIIB
Biogen Inc. is a biotechnology company. The Company is focused on discovering, developing and delivering therapies. It has a portfolio of medicines to treat Multiple Sclerosis (MS), has introduced an approved treatment for Spinal Muscular Atrophy (SMA), co-developed treatments to address a defining pathology of Alzheimer's disease and launched an approved treatment to target a genetic cause of Amyotrophic Lateral Sclerosis (ALS). It markets a drug approved in United States, European Union and certain international markets for the treatment of Friedreich Ataxia (FA) in adults and adolescents aged 16 years and older. It is focused on advancing its pipeline in neurology, specialized immunology and rare diseases. Its marketed products include VUMERITY, TYSABRI, TECFIDERA, AVONEX and PLEGRIDY for the treatment of MS; SPINRAZA for the treatment of SMA; SKYCLARYS for the treatment of FA, and QALSODY for the treatment of ALS. Its commercialized products also include EMPAVELI and SYFOVRE.
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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- Growth Plan Implementation: In 2023, Biogen achieved a 12% increase in sales to $850 million, primarily driven by a focus on growth products like Leqembi for Alzheimer's disease, marking a turnaround after four years of declining earnings.
- Acquisition Strategy: Biogen's acquisition of Apellis Pharmaceuticals in 2023 brought in two commercialized drugs with $689 million in sales, further solidifying its position in the immunology market and laying the groundwork for future growth.
- RayThera Acquisition Potential: Biogen's acquisition of RayThera for up to $1 billion, despite limited product details, suggests a portfolio of multiple anti-inflammatory assets that could target various immune-mediated conditions, indicating significant revenue potential and aligning with the company's strategic goal to expand its immunology business.
See More
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- Investor Focus on Data Release: Investors are awaiting mid-stage data for Biogen's Alzheimer’s drug diranersen, set to be announced mid-July at a London conference, which could impact the company's future stock price trajectory and market confidence.
- Acquisition Enhances Pipeline: Biogen has agreed to acquire RayThera Inc. for up to $1 billion to bolster its immunology pipeline, with the deal expected to close in Q3, further advancing the company's research in small-molecule anti-inflammatory assets.
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See More
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- Biotech Risk and Reward: In the biotech sector, investors face high-risk, high-reward scenarios, exemplified by Sarepta (SRPT) which saw a 20% drop following a failed clinical trial, highlighting the volatility and uncertainty in this industry.
- ETF Investment Strategy: Despite Sarepta's poor performance, the Bio-Tech ETF (XBI) shows a strong upward trend, suggesting investors should buy on pullbacks to capitalize on its potential upside, with a current target price of $150.
- Short-term Opportunity in Biogen: Biogen (BIIB) is making progress in treating autoimmune kidney diseases and Alzheimer's, with its stock recently breaking out of an ascending triangle, targeting $240 in the short term, while support is seen just above $200, offering a favorable risk/reward setup.
- Long-term Trend Analysis: The weekly chart for Biogen indicates a breakout from a downtrend since its 2021 peak and has surpassed the 200-week moving average; if the price breaks above $225, it will confirm longer-term upside targets of $300, indicating strong market potential.
See More
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- Future Outlook: The company also projects a GAAP and non-GAAP impact of $290 million to $320 million for Q3 2026 due to similar charges, translating to a headwind of $1.75 to $1.95 per diluted share, reflecting ongoing financial challenges and market uncertainties.
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- Market Reaction: Despite Biogen's aggressive acquisition strategy, market disappointment over its Alzheimer's drug performance has led to rating downgrades, raising investor concerns about the company's future growth potential, which may adversely affect its stock price.
See More
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