Canaccord analyst Sumant Kulkarni raised the firm’s price target on Biogen to $350 from $330 and keeps a Buy rating on the shares. The firm noted we have viewed the briefing documents as boding well for full approval and we now expect Leqembi, which already had accelerated approval, to receive full approval on/ around its action date of July 06. We also believe the company’s current focus on somewhat less risky pipeline products makes strategic sense versus an earlier approach that swung for the fences more often but came with significant risk.
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