Biogen price target lowered to $311 from $331 at Morgan Stanley

Morgan Stanley analyst Terence Flynn lowered the firm’s price target on Biogen to $311 from $331 and keeps an Overweight rating on the shares. The firm models Q2 U.S. Leqembi sales of $38M, versus the Visible Alpha U.S. consensus forecast of $30M, and also adjusted pipeline estimates, the analyst tells investors in a Q2 earnings preview note for the Biopharma group.