Biogen price target lowered to $199 from $210 at Truist

Truist lowered the firm’s price target on Biogen (BIIB) to $199 from $210 and keeps a Buy rating on the shares. The firm is updating our model for the recent collaboration to develop and commercialize Zorevunersen for Dravent Syndrome, a rare genetic epilepsy, and Skyclarys launch dynamics, the analyst tells investors in a research note. Based on management commentary, Truist adds that it has adjusted its Skyclarys ramp in the near-term to better reflect the slower growth pattern in U.S.