Leerink analyst Geoffrey Porges lowered his price target for Biogen to $361 from $367 after the company reported Q3 results with flat to declining MS market results and unfavorable underlying business trends. However, the analyst believes these issues are likely to take a back seat for investors as they position themselves ahead of increased news flow in the coming months about the Alzheimer's disease category and nusinersen's profile and potential. He reiterates a Market Perform on the shares.

Wedbush analyst Laura Chico raised the firm's price target on Biogen to $215 from $213 and keeps a Neutral rating on the shares. It remains early days for newly launching products like Skyclarys, Leqembi and Zurzuvae, the firm notes. That being said, it is encouraging to start to see revenue growth for Leqembi and continued growth for Skyclarys. Wedbush continues to see a gap between the newly launching products and earlier-stage development programs that will need to be addressed. However, larger-scale BD deals are likely easier to complete in 2025.

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