Biogen stock doesn't see big boost from FDA panel endorsement of Leqembi

• Although a panel of FDA advisors on Friday unanimously endorsed full approval of Biogen (NASDAQ:BIIB) Alzheimer's drug Leqembi (lecanemab), the stock hasn't moved much Monday morning.
• As of 1055a ET, Biogen (BIIB) shares are up ~2.3%.
• Biogen is partnered with Japanese pharma Eisai (OTCPK:ESALF)(OTCPK:ESAIY) on Leqembi on the drug.
• As a result of the panel's endorsement, Canaccord Genuity raised its price target on Biogen (BIIB) to $350 from $330, while Oppenheimer hiked its target to $360 from $350.
• Biogen closed at $308.88 on June 8. Trading in the stock was suspended on June 9 for the advisory committee meeting.

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