JPMorgan upgrades Biogen on upcoming pipeline milestones
On October 12, 2026, JPMorgan raised Biogen to Overweight from Neutral and increased its December 2027 price target to $300 from $210. Analyst Chris Schott cited upcoming clinical readouts for felzartamab and litifilimab, along with continued potential for Leqembi. The report presents Biogen's late-stage pipeline as a source of longer-term growth beyond its Alzheimer's franchise.
Why it matters
The upgrade gives Biogen a more favorable analyst view and raises JPMorgan's valuation benchmark for the shares. JPMorgan expects the pipeline to support earnings growth from mid single digits to low double digits or higher by 2030, subject to successful clinical and regulatory outcomes.
Key facts
- 1JPMorgan upgraded Biogen from Neutral to Overweight on October 12, 2026. finance.biggo.com
- 2JPMorgan raised its December 2027 price target to $300 from $210, representing roughly 33% upside from Friday's close. finance.biggo.com
- 3JPMorgan expects Phase 3 data for felzartamab in antibody-mediated rejection and cutaneous-lupus results for litifilimab in the first half of 2027. finance.biggo.com
- 4JPMorgan expects Biogen's earnings growth to increase from mid single digits to low double digits or higher by 2030. finance.biggo.com
Summary written by AlphAI AI Desk from 11 of 11 sources. Not investment advice. Figures are as stated by the linked sources.