Needham & Company analyst Ami Fadia reiterated a Buy rating and $292.00 price target on Biogen (NASDAQ: BIIB), following the company's Q4 earnings report.

The analyst quotes: "4Q21 Non-GAAP EPS of $3.39 came in-line with consensus but ~2% above our estimates (details below). Mgt also provided 2022 financial guidance for the first time, which came in below consensus expectations both on revenues (-4% vs cons at the mid-point) and non-GAAP EPS (19% below cons at the mid-point). This reflects the previously announced $500M of cost savings, and could be subject to downside should the final Aduhelm NCD decision not be better than the draft as it would result in write-offs and underutilization of manufacturing costs. We expect the stock to be down on the weaker than expected print and 2022 financial guidance."

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Shares of Biogen closed at $224.96 yesterday.