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.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BIIB:
- Biogen price target lowered to $205 from $217 at RBC Capital
- Biogen price target lowered to $146 from $152 at Morgan Stanley
- Biogen price target lowered to $187 from $241 at H.C. Wainwright
- Biogen price target lowered to $255 from $300 at Baird
- Biogen price target lowered to $220 from $265 at Canaccord
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue