Biogen reinstated with a Neutral at BofA

BofA reinstated coverage of Biogen (BIIB) with a Neutral rating and $178 price target Biogen is “a cheaper name,” mostly because Leqembi for Alzheimer’s has launched “too slowly,” the analyst tells investors. The downside “feels limited,” so it is worth tracking as the Leqembi launch picks up, the analyst added.