Wells Fargo analyst Mohit Bansal lowered the firm’s price target on Biogen to $343 from $350 and keeps an Overweight rating on the shares. Zuranolone’s label omitting the bigger major depression disorder indication is a setback as it contributed to 85% of the firm’s Zura sales and $13/share to DCF. Better postpartum depression pricing could offset this, and Wells sees net impact only at $7/share, with the stock already reflecting this.
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