Biogen price target lowered to $220 from $265 at Canaccord

Canaccord lowered the firm’s price target on Biogen (BIIB) to $220 from $265 and keeps a Buy rating on the shares. The firm noted Q1 results beat consensus and they are encouraged by the solid top-line performance, and EPS actually came in higher than had been expected. Execution will remain the key as they expect more focus on growth and the pipeline in 2026.