JPMorgan upgraded Biogen to overweight from neutral and raised its price target to $300 from $210, implying 33% upside. Analyst Chris Schott is betting on several major clinical catalysts expected in 2027, including felzartamab, an experimental treatment for rare kidney diseases representing an opportunity exceeding $2 billion, as well as litifilimab in cutaneous lupus erythematosus, an indication with no approved treatment currently on the market. Phase 3 data for litifilimab is expected in Q4 2026 and for felzartamab in H1 2027. Of the 38 analysts covering the stock, 26 recommend a buy or strong buy, and the shares have already risen approximately 28% year to date.
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