Biogen price target lowered to $207 from $251 at Mizuho

Mizuho lowered the firm’s price target on Biogen (BIIB) to $207 from $251 and keeps an Outperform rating on the shares. The analyst updated models in the biotechnology group following the Q3 reports. Biogen’s Q3 contained no major surprises, but Mizuho cut the price target on a slow Leqembi launch, the analyst tells investors in a research note. The firm continues to see the Biogen story as a longer term positive, largely on how and when the Leqembi launch could accelerate.