Piper Sandler raised the firm’s price target on Biogen (BIIB) to $177 from $157 and keeps a Neutral rating on the shares following quarterly results. Though the continued expansion of the Leqembi footprint “is not lost on us,” the firm says it continues to believe that it will not be quite enough to return Biogen to sustainable annual top-line growth given continued heavy exposure to a declining legacy multiple sclerosis segment.
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