Needham analyst Ami Fadia lowered the firm’s price target on Biogen to $321 from $325 but keeps a Buy rating on the shares. The company’s weak product revenues drove the pullback in the stock despite he Q1 earnings beat as its management remains focused on right-sizing costs and reallocating them to growth drivers, the analyst tells investors in a research note. Both Leqembi and zuranolone have multi-billion dollar peak sales potential, but both require an initial push to build out the market, Needham added.
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