12 Best S&P 500 Stocks With Huge Upside Potential

9. Biogen Inc. (NASDAQ:BIIB)

Number of Hedge Fund Holders: 52

Average Upside Potential as of June 24: 30.63%

Biogen Inc. (NASDAQ:BIIB) is one of the best S&P 500 stocks with huge upside potential. As of June 16, Biogen emerged as a prominent contender at the Cannes Lions International Festival of Creativity and secured 4 nominations on the Pharma shortlist for its campaigns related to Friedreich’s ataxia. This marks a significant presence for Biogen, especially after winning a bronze medal at the 2024 awards.

Biogen’s 4 nominations in the Pharma category for its Friedreich’s ataxia work included 3 in the “direct-to-patient ads for products or services” category and one in the “disease awareness and understanding” shortlist. All these campaigns are connected to Biogen’s Friedreich’s ataxia drug, Skyclarys, which it acquired in 2023 through a $7.3 billion takeover of Reata Pharmaceuticals.

One notable campaign, developed with ad agency 21Grams, is a dark comedy web series titled “Friedreich’s Back.” This nine-episode series humorously depicts Nikolaus Friedreich, the neurologist who discovered Friedreich’s ataxia, returning from the dead to learn about Skyclarys and navigate the modern world as an intern at Biogen. Biogen was not shortlisted in the Health & Wellness category, where Bristol-Myers Squibb Co. (NYSE:BMY) and Novartis (NYSE:NVS) represented the industry.

Biogen Inc. (NASDAQ:BIIB) discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the US, Europe, Germany, Asia, and internationally.