RBC raises Biogen's price target as pipeline prospects come into focus

** RBC Capital Markets raises Biogen's BIIB price target to $213 from $205

** New PT implies a 68.6% upside to the stock's last close

** Brokerage says Biogen is approaching a catalyst-rich period with late-stage trial results expected from 2026 to 2028 for key drugs in rare kidney diseases, lupus, and Alzheimer's

** RBC believes there isn't one huge drug that will determine the company's fate, but rather several promising candidates, which spreads out the risk

** If all the drugs in the company's development pipeline succeed, the stock could rise by as much as 40%, brokerage says

** As of last close, BIIB stock down 17.4% YTD