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Biogen Idec

(BIIB) - Get Free Report

shares got a lift on Monday after receiving two upgrades.

Shares added $3.73, or 8.8%, to $46.28 as Robert Baird & Co. increased its rating for the stock to outperform from neutral. Deutsche Bank analysts also lifted their rating.

"We are upgrading shares of

Biogen Idec from hold to buy because we now believe the longer term risk/reward is heavily skewed to the upside," wrote Deutsche Bank analyst Mark Schoenebaum in a note to investors. "Although the stock may take time to work, we believe upside could approximate +15% to 40%, while sustainable downside is likely limited to about 10%."

The upgrades come a week after a new case of a brain infection in a multiple sclerosis patient taking


pushed the stock to lows of less than $40 a share. BioTalk: BIIB, ELN, VRTX

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