Biogen price target lowered to $300 from $325 at H.C. Wainwright

H.C. Wainwright analyst Andrew Fein lowered the firm’s price target on Biogen to $300 from $325 and keeps a Buy rating on the shares. The key question for Biogen from yesterday’s earnings call remained focused on Leqembi uptake, given the challenges surrounding neurology appointments, to reimbursements in PET scans, to infrastructure requirements for infusion, the analyst tells investors in a research note. The firm, however, continues to believe there “is a huge pent-up demand” for Leqembi among patients and family members of those who are being diagnosed and those who are self-reporting memory issues. It cites infrastructure challenges associated with Leqembi despite recent progress for the target drop.