Insider Selling: Steven Holtzman Unloads 3,501 Shares of Biogen Idec Stock (BIIB)
Biogen Idec (NASDAQ:BIIB) EVP Steven Holtzman unloaded 3,501 shares of Biogen Idec stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $238.98, for a total transaction of $836,668.98. Following the completion of the transaction, the executive vice president now directly owns 4,885 shares in the company. The sale was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on BIIB shares. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Biogen Idec (NASDAQ:BIIB) from $220.00 to $240.00 in a research note to investors on Wednesday. Separately, 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. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Biogen Idec (NASDAQ:BIIB) in a research note to investors on Tuesday.
Nine research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Biogen Idec currently has an average rating of “Buy” and a consensus target price 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 $242.64. The stock has a 50-day moving average of $219.1 and a 200-day moving average of $211.2. The company has a market cap of $58.549 billion and a P/E ratio of 35.56.
Biogen Idec (NASDAQ:BIIB) last released its earnings data on Thursday, July 25th. The company reported $2.30 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.82 earnings per share. Biogen Idec’s revenue was up 21.3% compared to the same quarter last year. On average, analysts predict that Biogen Idec will post $8.58 earnings per share for the current fiscal year.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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