12 Best S&P 500 Stocks to Invest in According to Analysts

3. Biogen Inc. (NASDAQ:BIIB)

Average Share Price Upside Potential as of January 31: 62.26%

Market Cap: $20.97 billion

Biogen Inc. (NASDAQ:BIIB) is a global biopharmaceutical company specializing in delivering advanced therapies for patients with complex diseases. Its wide portfolio of medicines addresses conditions like Alzheimer’s, multiple sclerosis (MS), spinal muscular atrophy (SMA), and amyotrophic lateral sclerosis (ALS).

On January 26, Eisai Co., Ltd. and Biogen announced that the U.S. Food and Drug Administration (FDA) has approved once every four weeks maintenance dosing of Alzheimer’s drug, LEQEMBI. The treatment helps in slowing disease progression, allowing the patients to maintain their current state for longer.

The approval comes as a positive development for the company, which saw its share price decline by 44% in 2024 due to pipeline setbacks and a slowdown in sales. Late last year, the European Medicines Agency (EMA) also reversed its decision and recommended the approval of LEQEMBI for marketing in Europe. This decision is seen as a significant opportunity, as Europe could account for a substantial chunk of the drug’s global sales.

The company has also made some recent strategic acquisitions, which have been well-received by investors and are already creating value. In July 2024, Biogen Inc. (NASDAQ:BIIB) completed the acquisition of Human Immunology Biosciences (HI-Bio), a biotechnology company focused on treating severe immune-mediated diseases (IMDs). In 2023, it acquired Reata Pharmaceuticals and bolstered its rare disease portfolio with the addition of SKYCLARYS, the FDA-approved treatment for Friedreich’s ataxia in the United States.

Wall Street analysts are bullish on Biogen Inc. (NASDAQ:BIIB), with a consensus Buy rating and an average share price upside potential of 62.26%. It is one of the best large-cap stocks to invest in according to analysts.