Biogen price target raised to $365 from $343 at Wells Fargo

Wells Fargo analyst Mohit Bansal raised the firm’s price target on Biogen to $365 from $343 and keeps an Overweight rating on the shares. The firm continues to like the setup for Biogen as Skyclarys could be a near-term source of upside and offer stabilization to the top line while long-term Alz prospects are heavily discounted under its ex-pipeline sum-of-the-parts of $210/share.