BofA lowered the firm’s price target on Biogen (BIIB) to $142 from $143 and keeps a Neutral rating on the shares. The firm’s 2025 estimates are “slightly higher” after a “big beat and raise” in Q2, but it trims its price target as it rolls its valuation to its 2026 EPS estimate. While Biogen is “admittedly one of the cheaper names in large-cap biopharma,” the firm struggles to see a compelling “buy thesis” as the growth outlook over the next few years “remains lackluster,” the analyst tells investors.
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