Biogen Inc (NASDAQ:BIIB) added 3.45% in New York as the biotech giant received a thumbs up from broker heavyweight Morgan Stanley and reported positive data.
Morgan upgraded the share to 'overweight' from 'equalweight'.
Analyst Matthew Harrison also lifted the price target heftily to US$375 from US$311.
Also on Thursday morning, the firm said that data shows that earlier start with treatment with SPINRAZA may improve motor function outcomes in infants and children with spinal muscular atrophy.
Morgan Stanley noted this morning that the group's Alzheimer's therapies are a "must-own" catalyst, and Biogen has several therapies in development.