Biogen price target lowered to $265 from $298 at Canaccord

Canaccord lowered the firm’s price target on Biogen (BIIB) to $265 from $298 and keeps a Buy rating on the shares. The firm noted the market was less than enthusiastic about BIIB’s 2025E outlook, which calls for a mid-single-digit decline in revenue and adjusted EPS of $15.25-16.25, which was modestly lower than consensus at the high end of the range. At the same time, the company continues to have solid financial capacity to buy revenue growth.