Biogen and Salesforce shares rise after JPMorgan and BofA upgrades

what happened

According to Stock Story, Biogen shares rose 3.5% in pre-market trading after JPMorgan upgraded the stock from Neutral to Overweight and increased its price target from $210 to $300. Analyst Chris Schott set what was described as the highest target on Wall Street, pointing to a more compelling set of growth catalysts as the company approaches 2027. After the initial jump, the shares eased to $231.37, still 2.5% above the previous close.

JPMorgan highlighted upcoming Phase 3 data for felzartamab in kidney transplant rejection, a potential market worth more than $2 billion, as well as litifilimab for cutaneous lupus erythematosus. Biogen shares are up 30.2% since the start of the year and have reached a new 52-week high.

Stock Story also reported that Salesforce gained 4.1% before the market opened after BofA Securities raised its rating twice, from Underperform to Buy. The bank lifted its price target from $160 to $285. Following the initial move, the stock cooled to $235.03, representing a 2.6% gain from the prior close. BofA increased its valuation multiple to 16 times projected calendar-year 2027 enterprise value to free cash flow, from 9 times.

why it matters

The two market moves followed analysts’ reassessments of growth prospects and business durability. For Biogen, investors are focused on pipeline opportunities beyond Leqembi; for Salesforce, the key argument is that AI tools may deepen enterprise customer lock-in and support software spending.

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