Oppenheimer analyst Jay Olson lowered his price target for Biogen to $375 from $400, citing slightly lower revenue estimates. Nonetheless, the analyst reiterates an Outperform rating on the stock as he believes sentiment is improving on solid Q1 results and promising outlook.

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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