Biogen Swings Back to Growth as Stock Momentum Could Continue, RBC Says

11:58 AM EDT, 10/29/2026 (MT Newswires) -- Biogen (BIIB) has swung back to growth as shown by its solid Q3 results, RBC analysts wrote in a note to clients Thursday. The analysts said that although the stock has had a strong run, they still believe it has the potential to rise further. "We believe BIIB shares reflect increasing enthusiasm for what we view as a promising pipeline," RBC analysts wrote. The contribution from Alzheimer's drug Leqembi should maintain solid momentum, the analysts wrote, and expect its US sales to rise 47% year-over-year in 2027, the analysts wrote. "We believe that with the $4 billion Alzheimer's sales opportunity not fully appreciated in the current valuation the risk/reward setup into the multiple Alzheimer's catalysts (AdComm, approval, launch) is favorable," the analysts wrote. "We see potentially significant upside on success of the Alzheimer's franchise." The firm raised its price target on the stock to $272 a share from $256 and maintained its outperform rating. Shares of Biogen are up 3.5% in Thursday trading.