Biogen upgraded to Buy from Neutral at UBS

UBS analyst Michael Yee upgraded Biogen (BIIB) to Buy from Neutral with a price target of $225, up from $185. The firm has increased conviction on Biogen’s pipeline catalysts coming over the next 12-15 months. The readouts should move the stock higher going into 2027, the analyst tells investors in a research note. UBS sees upside on the BIIB080 tau data this summer and says the “real upside catalyst” in Q4 is the Phase III litifilimab data in systemic lupus. Biogen offers a “window of pipeline catalysts” and is an “under-owned out-of- favor stock that trades at a discount to large-cap peers,” contends the firm.