Biogen Idec Inc. Reaches New 12-Month High at $246.00 (BIIB)
Biogen Idec (NASDAQ:BIIB)’s share price reached a new 52-week high during trading on Wednesday, Stock Ratings Network reports. The stock traded as high as $246.00 and last traded at $245.59, with a volume of 1,114,606 shares traded. The stock had previously closed at $240.05.
A number of analysts have recently weighed in on BIIB shares. Analysts at Zacks upgraded shares of Biogen Idec (NASDAQ:BIIB) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday. They now have a $288.00 price target on the stock. Separately, analysts at Bank of America Corp. cut their price target on shares of Biogen Idec (NASDAQ:BIIB) from $309.00 to $240.05 in a research note to investors on Wednesday. They now have a “positive” rating on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Biogen Idec (NASDAQ:BIIB) in a research note to investors on Tuesday.
Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Biogen Idec presently has a consensus rating of “Buy” and a consensus price target of $246.46.
Biogen Idec has a 1-year low of $134.00 and a 1-year high of $242.64. The stock’s 50-day moving average is $219.1 and its 200-day moving average is $211.2. The company has a market cap of $58.549 billion and a price-to-earnings ratio of 35.56.
Biogen Idec (NASDAQ:BIIB) last announced its earnings results on Thursday, July 25th. The company reported $2.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.37. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter in the previous year, the company posted $1.82 earnings per share. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. Analysts expect that Biogen Idec will post $8.58 EPS for the current fiscal year.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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