Biogen price target lowered to $215 from $230 at Barclays

Barclays analyst Carter Gould lowered the firm’s price target on Biogen (BIIB) to $215 from $230 and keeps an Equal Weight rating on the shares. The analyst recommends sticking with the momentum and higher quality biopharmaceutical names heading into the Q1 reports. The firm prefers AbbVie (ABBV), Merck (MRK) and Neurocrine Biosciences (NBIX). For Biogen, it sees a challenging quarter across the core business, with in-line Skyclarys and Leqembi numbers. If the company is unable to offer more than the recent Eisai messaging regarding the recent Leqembi setback, the shares will remain under pressure, the analyst tells investors in a research note.