RBC cuts Biogen target to $256 from $260, maintains Outperform

On Oct. 8, RBC’s Brian Abrahams cut the target to $256 from $260 and maintained Outperform in a biotech Q3 preview. RBC cited additional selling days and mid-year price increases as support for large-cap results. BIIB closed down 1.67% at $218.43 on Oct. 8.