BMO Capital analyst Evan Seigerman reiterated a Market Perform rating and $196.00 price target on Biogen (NASDAQ: BIIB).

The analyst comments "High-dose Spinraza approval and positive Ph 2 AMETHYST data in CLE both are likely to be positive drivers of BIIB shares Monday morning. Approval of high-dose Spinraza could start to stabilize (or even grow) the company's long-standing Spinraza product revenue, with follow on salanersen still in development. Positive AMETHYST Part A data shows clear efficacy in improving CLE patient symptoms with 22.5% of treated patients achieving CLASI-70 (5.7% on placebo) at week 16. Results read positively to Ph 3 data in the indication expected in mid-2027."

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Shares of Biogen closed at $183.84 yesterday.