Biogen price target raised to $233 from $217 at RBC Capital

RBC Capital raised the firm’s price target on Biogen (BIIB) to $233 from $217 and keeps an Outperform rating on the shares. The key for the company this quarter was showing stability and predictability, which they successfully did, both in the numbers and in their guidance, the analyst tells investors in a research note. Solid commercial execution and growth across key franchises, alongside improved expense discipline, continues to support a solid foundation into a catalyst-rich next year, RBC added.