Biogen Idec Price Target Increased to $240.00 by Analysts at Goldman Sachs Group Inc. (BIIB)
Analysts at Goldman Sachs Group Inc. increased their target price on shares of Biogen Idec (NASDAQ:BIIB) from $220.00 to $240.00 in a research report issued to clients and investors on Wednesday, Stock Ratings Network reports. Goldman Sachs Group Inc.’s price target would suggest a potential downside of 2.58% from the company’s current price.
A number of other firms have also recently commented on BIIB. 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 TheStreet reiterated a “buy” rating on shares of Biogen Idec (NASDAQ:BIIB) in a research note to investors on Tuesday. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Biogen Idec (NASDAQ:BIIB) in a research note to investors on Wednesday, September 4th. They now have a $270.00 price target on the stock.
Nine investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $250.23.
Shares of Biogen Idec (NASDAQ:BIIB) traded up 2.62% on Wednesday, hitting $246.346. The stock had a trading volume of 1,606,903 shares. Biogen Idec has a 52-week low of $134.00 and a 52-week high of $246.49. The stock’s 50-day moving average is $220.0 and its 200-day moving average is $211.4. The company has a market cap of $58.549 billion and a P/E ratio of 35.56.
Biogen Idec (NASDAQ:BIIB) last issued its quarterly earnings data 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 prior year, the company posted $1.82 earnings per share. The company’s quarterly revenue was up 21.3% on a year-over-year basis. On average, analysts predict that Biogen Idec will post $8.58 earnings per share for the current fiscal year.
In other Biogen Idec news, EVP Steven H. Holtzman sold 3,501 shares of the stock on the open market in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $238.98, for a total value of $836,668.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.