NEW YORK (TheStreet) -- Shares of Biogen Idec Inc. (BIIB) are up 2.10% to $315.30 in pre-market trade after J.P. Morgan (JPM) upgraded the stock to "overwight" from "neutral" and raised its price target to $375 from $300, based on "multiple mid-stage pipeline opportunities and MS."
The firm said: "With respect to the MS franchise, we conducted a survey of 50 neurologists that points to upside for Tecfidera. Indeed, we have also fine tuned our MS estimates and are above consensus for Tecfidera, which is the key near-term commercial driver."
Separately, TheStreet Ratings team rates BIOGEN IDEC INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BIOGEN IDEC INC (BIIB) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company shows weak operating cash flow."
Highlights from the analysis by TheStreet Ratings Team goes as follows: