Biogen downgraded to Hold from Buy at Stifel

Stifel analyst Paul Matteis downgraded Biogen (BIIB) to Hold from Buy with a $175 price target It’s been a challenging year and while there are other reasons that are contributing, it’s “mostly driven” the by the “much slower than expected” launch of lecanemab, the analyst tells investors. A lack of clinical catalysts for Biogen “underscores a tricky 2025,” where investors will continue to hone in on performance of the drug launches for lecanemab and Skyclarys, the analyst added.