Biogen price target lowered to $241 from $300 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Biogen (BIIB) to $241 from $300 and keeps a Buy rating on the shares. The firm says that given the company’s guidance of year-over-year revenue decline, it reevaluated its revenue estimates to reflect near-term headwinds. However, with the availability of the blood-based biomarkers which might be approved in the second half of 2025, the analyst expects eventual easing of the headwinds associated with the scans, thereby adding to the growth momentum of lecanemab.