BMO Upgrades Biogen (BIIB) to Market Perform Following Positive Trial Results for Oral BG-12

An analyst at BMO Capital upgraded shares of Biogen (NASDAQ: BIIB) from Underperform to Market Perform Monday afternoon. The firm boosted its price target on the stock from $57 to $79.

The upgrade follows earlier news that Biogen's Phase 3 trial investigating its oral BG-12 in multiple sclerosis met primary and all secondary endpoints.

Biogen shares are up more than 6 percent Monday, last trading around $77.80.

For more ratings news on Biogen click here and for the rating history of Biogen click here.

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