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

Oppenheimer lowered the firm’s price target on Biogen to $270 from $290 and keeps an Outperform rating on the shares. The firm reviews key considerations ahead of the Q1 report, including financial performance with progress on “Fit-for-Growth” initiatives, Leqembi launch updates on infrastructure build-out and uptake metrics that could benefit from recent positive AD dynamics, and pipeline updates with four readouts expected in mid-2024.