Biogen stock received a bullish upgrade as Wall Street appears optimistic about the biotech company's upcoming presentation where it will unveil detailed data from a recent Phase 2 study on its experimental drugs for Alzheimer's disease.

Truist Securities upgraded Biogen to a Buy rating from Hold and raised its price target on the shares to $235 from $190. That represents 18% upside from Biogen stock's closing price of $199.15 on Friday.

Biogen stock rose 1.3% to $201.63 in premarket trading on Monday. Shares have fallen 7.8% this month but have gained 13% this year, outperforming the S&P 500's 11% advance.

The upgrade and price target hike comes just ahead of the company's presentation Tuesday at the Alzheimer's Association International Conference in London.

Biogen is expected to show detailed data on why it believes its experimental Alzheimer's drug, diranersen, is effective despite the company announcing in May it missed a Phase 2 study's primary endpoint. Biogen also is expected to explain why it plans to forge ahead with a Phase 3 trial.

The presentation could give a shot in the arm to Biogen stock, and that's what Truist is betting on.

The firm wrote it has an "increasingly constructive" view on the outlook for Biogen shares, driven by expectations for the unveiling of the differentiated clinically meaningful Phase 2 data with diranersen.

Truist added it sees "attractive risk/reward" with the "de-risking pivotal data readouts."

Investors will also want to keep tabs on Biogen-development partner Ionis Pharmaceuticals. Ionis stock plummeted last week following a surprising study failure of a heart drug it developed with AstraZeneca.

Write to Kit Norton at kit.norton@barrons.com

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July 13, 2026 08:16 ET (12:16 GMT)

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