Biogen (BIIB) PT Raised to $196 at BMO Capital

BMO Capital analyst Evan David Seigerman raised the price target on Biogen (NASDAQ: BIIB) to $196.00 (from $165.00) while maintaining a Market Perform rating.

The analyst commented: "Revenues continue to decline, but pieces are available to start answering outstanding questions. We remain Market Perform on BIIB shares as revenue erosion from the MS business is expected to continue in 2026; however, we are growing more confident about the long-term opportunity for 1) high-dose Spinraza; and 2) readouts for litifilimab in SLE. High-dose Spinraza could meaningfully address challenges with multiple induction injections for low-dose Spinraza while TOPAZ-1/2 benefit from intelligent enrollment of moderate/severe SLE patients which could show improvement from longer litifilimab therapy. Target to $196."

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