TheStreet Reiterates Buy Rating for Biogen Idec (BIIB)
Biogen Idec (NASDAQ:BIIB)‘s stock had its “buy” rating reiterated by equities research analysts at TheStreet in a research note issued to investors on Friday, AnalystRatings.Net 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 firms have also recently commented on BIIB. Analysts at Jefferies Group reiterated a “buy” rating on shares of Biogen Idec in a research note to investors on Friday, October 11th. They now have a $270.00 price target on the stock, up previously from $266.00. Separately, analysts at Leerink Swann raised their price target on shares of Biogen Idec from $286.00 to $300.00 in a research note to investors on Monday, October 7th. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of Biogen Idec in a research note to investors on Wednesday, October 2nd. They now have a $290.00 price target on the stock, up previously from $255.00. Eight equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Biogen Idec currently has an average rating of “Buy” and an average target price of $253.32.
Biogen Idec (NASDAQ:BIIB) traded down 1.40% on Friday, hitting $243.65. The stock had a trading volume of 373,331 shares. Biogen Idec has a one year low of $134.00 and a one year high of $248.95. The stock has a 50-day moving average of $234.8 and a 200-day moving average of $220.2. The company has a market cap of $57.909 billion and a P/E ratio of 36.60.
Biogen Idec (NASDAQ:BIIB) last released its earnings data on Thursday, July 25th. The company reported $2.30 EPS for the quarter, beating the Thomson Reuters 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 $8.60 earnings per share for the current fiscal year.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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