Piper Sandler raised Biogen's price target to $214 from $177 and upgraded rating to Overweight, citing acquisition strength.
The Apellis assets add Empaveli and Syfovre, offsetting MS drug revenue decline and driving growth in rare kidney and eye markets.
Biogen’s immunology pipeline, including experimental felzartamab for transplant rejection and autoimmune diseases, adds further upside potential.
Piper Sandler projects Biogen revenue above $10.5 billion by 2027 with improving profitability and faster debt reduction post‑Acquisition.