Biogen price target raised to $196 from $191 at Wedbush

Wedbush raised the firm’s price target on Biogen (BIIB) to $196 from $191 and keeps a Neutral rating on the shares. While the firm anticipated Q1 would likely be a beat despite seasonality, Biogen’s $229M revenue beat exceeded expectations. Even unpacking the one-time benefits from Tysabri and contract manufacturing revenue, the business appears to be on solid footing, Wedbush add. Management lowered FY26 non-GAAP EPS guidance with expected IPR&D charges providing $1.00 negative impact.