Biogen price target lowered to $224 from $244 at Scotiabank

Scotiabank lowered the firm’s price target on Biogen (BIIB) to $224 from $244 and keeps an Outperform rating on the shares. Fiscal year results indicate Leqembi may be gaining traction, evidenced by another quarter of “decent” growth, the analyst tells investors. While treatment eligibility for the product continues to be a headwind, consensus estimates continue to regard Leqembi as a “blockbuster product,” the firm adds.