Biogen price target lowered to $145 from $160 at Citi

Citi lowered the firm’s price target on Biogen (BIIB) to $145 from $160 and keeps a Neutral rating on the shares post the Q4 report. The company’s 2024 sales showed erosion in key product lines with 2025 declines expected on both revenue and non-GAAP earnings, the analyst tells investors in a research note. The firm says given the “underwhelming: revenue outlook, it was not surprised to see the stock pull back yesterday. On the earnings call, Biogen noted while its multiple sclerosis franchise and other legacy products are declining, Citi points out.