10 Cheap Pharmaceutical Stocks to Buy According to Analysts

2. Biogen Inc. (NASDAQ:BIIB)

Price Target Upside: 60.66% 

Biogen Inc. (NASDAQ:BIIB) is a leading biotechnology company focused on developing and commercializing therapies for neurological and neurodegenerative diseases, including multiple sclerosis, Alzheimer’s disease, and spinal muscular atrophy.

Biogen Inc. (NASDAQ:BIIB)’s Q4 2024 earnings call on February 12, 2025, highlighted key financial trends. While total revenue declined by $160 million, the core pharmaceutical business grew for the first time in four years, driven by four new product launches: Leqembi (Alzheimer’s), Skyclarys (Friedreich’s ataxia), Zurzuvae (postpartum depression), and Qalsody (ALS). These products offset declining MS revenue, with Leqembi seeing strong growth in Asia, Skyclarys doubling patient numbers, and Zurzuvae exceeding expectations. Biogen Inc. (NASDAQ:BIIB) also streamlined operations to cut costs while reinvesting in growth, leveraging strong cash flow for future opportunities.

As of Q3 2024, 49 hedge funds held shares in Biogen Inc. (NASDAQ:BIIB), as tracked by the Insider Monkey database. The largest stakeholder was Vanguard Group Inc with stakes worth $2.5 billion.