Home / Business and Economy / JPMorgan Bets Big on Biogen's 2027 Pipeline Potential
JPMorgan Bets Big on Biogen's 2027 Pipeline Potential
12 Oct
Summary
- JPMorgan upgraded Biogen to Overweight with a $300 target.
- Key data readouts expected in 2027 for transplant, lupus drugs.
- Analyst sees strong growth potential beyond Alzheimer's treatments.
JPMorgan has elevated its rating for Biogen to Overweight from Neutral, citing a strengthened clinical catalyst pipeline and an improved long-term growth trajectory extending into 2027. The bank has established a price target of $300 per share, anticipating significant developments.
Analyst Chris Schott views Biogen as a compelling investment heading into 2027, emphasizing its evolution beyond the Alzheimer's drug Leqembi. Key upcoming data includes felzartamab for antibody-mediated rejection, a complication of kidney transplants, with Phase 3 results expected in the first half of 2027. This indication alone represents a market exceeding $2 billion.
Further pipeline developments include litifilimab for cutaneous lupus, where no therapies are currently approved, with data also anticipated in the first half of 2027. While two Phase 3 trials for litifilimab in systemic lupus carry higher risk, Schott suggests the stock can recover from potential setbacks. JPMorgan also foresees a positive read-through to Leqembi from Eli Lilly's trials in preclinical Alzheimer's.
