Biogen will get a boost as it releases more data on a spate of investigational drugs in its pipeline, according to JPMorgan. The investment bank upgraded the biotechnology stock to overweight from neutral. It also hiked its price target on shares to $300 from $210, implying 33% upside from Friday’s close. “We are upgrading BIIB to OW from N ahead of an increasingly compelling catalyst path and an improved long-term growth outlook for the company,” analyst Chris Schott said Monday in a note to clients. “We are now approaching several meaningful clinical readouts/competitor readthroughs in 2027 including: 1) felzartamab … representing a > $2bn (and potentially much larger) opportunity, 2) readthroughs from LLY’s TRAILBLAZER-ALZ-3 to Leqembi … and 3) litifilimab in [cutaneous lupus erythematosus (CLE)],” he said. BIIB YTD mountain BIIB in 2026 The analyst noted that Biogen’s ongoing testing of litifilimab is promising because there are no approved therapies for CLE on the market at this time. Data from two phase three trials evaluating the efficacy of litifilimab will be published in the fourth quarter of 2026. The release of clinical trial data for felzartamab, an investigational treatment for rare kidney diseases, could also lift shares of Biogen considerably, per JPMorgan. “Felzartamab (CD38) represents the most significant opportunity in BIIB’s pipeline and we see upside to Street estimates based on its initial indication,” Schott wrote. Phase 3 data for the treatment should come out in the first half of 2027. The analyst added that felzartamab should secure a lot of sales quickly, if approved, given its “relatively straightforward patient identification process (given the degree of monitoring typical for transplant patients), and [the] experienced nephrology sales force BIIB now has following the Apellis acquisition.” JPMorgan’s call falls in line with consensus on Wall Street. Of the 38 analysts covering Biogen, 26 have a buy or strong buy rating on the stock, LSEG data shows. Shares have jumped roughly 28% year to date.
Biogen is set for big gains on slate of trial data releases, JPMorgan says
By admin
0
13
Previous article
RELATED ARTICLES
