Biogen price target lowered to $205 from $255 at Oppenheimer

Oppenheimer analyst Jay Olson lowered the firm’s price target on Biogen (BIIB) to $205 from $255 and keeps an Outperform rating on the shares. The firm notes the company reported solid Q1 results, with $2.4B total revenue coming in ahead of its/consensus $2.18B/$2.24B estimates, driven largely by Spinraza and contract manufacturing. FY25 revenue guidance was maintained with mid-single-digit percentage revenue decline at constant currency. Management also noted that guidance would not be materially impacted by tariffs, based on its favorable U.S. manufacturing footprint and presence in international markets. Oppenheimer remains optimistic about Leqembi and Skyclarys driving longer-term revenue growth with additional upside from pipeline programs.