Biogen Idec Given “Buy” Rating at TheStreet (BIIB)
Biogen Idec (NASDAQ:BIIB)‘s stock had its “buy” rating restated by analysts at TheStreet in a research report issued to clients and investors on Sunday, Analyst Ratings Network.com 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 Wells Fargo & Co. reiterated a “positive” rating on shares of Biogen Idec in a research note to investors on Tuesday, October 22nd. Separately, 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. Finally, 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. Eight research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Biogen Idec currently has a consensus rating of “Buy” and an average target price of $253.32.
Shares of Biogen Idec (NASDAQ:BIIB) opened at 252.26 on Friday. Biogen Idec has a one year low of $134.00 and a one year high of $242.64. The stock has a 50-day moving average of $218.0 and a 200-day moving average of $209.5. The company has a market cap of $59.955 billion and a price-to-earnings ratio of 36.92.
In other Biogen Idec news, SVP Alfred Sandrock unloaded 15,030 shares of Biogen Idec stock on the open market in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $250.11, for a total value of $3,759,153.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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