Biogen price target lowered to $270 from $290 at JPMorgan

JPMorgan lowered the firm’s price target on Biogen to $270 from $290 and keeps a Neutral rating on the shares post the Q4 report. The focus of the story continues to center on the near-term ramp of Leqembi, which has trended slower than expectations thus far, the analyst tells investors in a research note. Outside of Leqembi, the firm views Biogen’s 2024 guidance as in line with expectations.