JPMorgan upgraded Biogen (BIIB) to Overweight from Neutral and raised its price target to $300 from $210, citing a more compelling pipeline catalyst outlook ahead of several 2027 clinical readouts. Shares were up 3.2% premarket at $232.95, on track for their highest level since July 2024. JPMorgan highlighted felzartamab, a potential opportunity worth more than $2 billion, and litifilimab for cutaneous lupus; Leqembi's global in-market sales reached $184 million in Q2 2026, up 15% year over year. Last week, UBS raised its target to $270 while RBC lowered its target to $256. Biogen reports Q3 2026 results on October 28, with analysts expecting EPS of $2.66 and revenue of about $2.65 billion, and shares are up more than 27% year to date.
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Original headline: BIIB Stock: JPMorgan Sees ‘Increasingly Compelling Catalyst Path’ For Biogen, Raises Price Target To $300
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