Biogen price target lowered to $290 from $300 at JPMorgan

JPMorgan analyst Chris Schott lowered the firm’s price target on Biogen to $290 from $300 and keeps a Neutral rating on the shares post the Q3 report. The Leqembi launch is off to a slow start as expected, the analyst tells investors in a research note. On Skyclarys, the launch appears to be off to a solid start and should rapidly become an earnings contributor for the company, says the firm. It continues to see a favorable setup for Leqembi in the longer term.