Biogen price target lowered to $260 from $280 at BofA

BofA lowered the firm’s price target on Biogen to $260 from $280 and keeps a Neutral rating on the shares. For Q1, the firm’s estimates are below the Street for revenue and EPS as it expects steeper erosion for its core product portfolio, says the analyst, who also cites Leqembi’s slower than expected launch.