Needham raised the firm’s price target on Biogen to $323 from $320 and keeps a Buy rating on the shares. The company announced better than expected cost savings, but it is only one of many drivers needed to help offset declining MS, the analyst tells investors in a research note. Leqembi will take time to ramp, and the management’s commentary on BD does not suggest any transformational deals are on the table, the firm added.
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