Biogen Idec Stock Rating Reaffirmed by TheStreet (BIIB)
Biogen Idec (NASDAQ:BIIB)‘s stock had its “buy” rating reiterated by TheStreet in a research note issued on Wednesday, American Banking & Market News reports.
The analysts wrote, “Biogen Idec (BIIB) has been reiterated by TheStreet Ratings as a buy with a ratings score of A. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
A number of other analysts have also recently weighed in on BIIB. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Biogen Idec (NASDAQ:BIIB) in a research note to investors on Wednesday. They now have a $290.00 price target on the stock, up previously from $255.00. Separately, 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, September 18th. Finally, 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, September 18th. They now have a $288.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $251.82.
In other Biogen Idec news, CFO Paul Clancy unloaded 26,785 shares of the company’s stock on the open market in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $245.00, for a total transaction of $6,562,325.00. Following the transaction, the chief financial officer now directly owns 7,087 shares in the company, valued at approximately $1,736,315. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Biogen Idec (NASDAQ:BIIB) traded up 0.27% during mid-day trading on Wednesday, hitting $245.59. The stock had a trading volume of 318,079 shares. Biogen Idec has a 52-week low of $134.00 and a 52-week high of $248.95. The stock’s 50-day moving average is $226.5 and its 200-day moving average is $216.3. The company has a market cap of $58.370 billion and a P/E ratio of 36.28.
Biogen Idec (NASDAQ:BIIB) last released its 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 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 $8.59 EPS for the current fiscal year.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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