Is Biogen, Inc. overvalued or undervalued?

As of 17 October 2025, the valuation grade for Biogen, Inc. has moved from very attractive to attractive, indicating a shift in perceived value. The company appears to be overvalued at its current price of $143.00, especially when considering its P/E ratio of 13, which is higher than the peer average of approximately 13.57, and an EV to EBITDA ratio of 9.17 compared to the peer average of 8.89. Additionally, the PEG ratio of 0.61 suggests that the stock may not be as undervalued as it seems relative to its growth prospects.
In terms of peer comparison, Biogen's P/E ratio is slightly below that of its closest competitor, while its EV to EBITDA ratio is higher, indicating a potential premium on valuation. The company's recent performance has been disappointing, with a year-to-date return of -6.49%, significantly lagging behind the S&P 500's 13.30% return, and a staggering -48.93% return over the past five years, compared to the S&P's 91.29%. This underperformance reinforces the notion that Biogen may be overvalued in the current market environment.