Biogen Idec Given New $235.00 Price Target at Oppenheimer (BIIB)
Oppenheimer increased their price target on shares of Biogen Idec (NASDAQ:BIIB) from $207.00 to $235.00 in a research note issued on Tuesday, Stock Ratings News reports. The firm currently has a “market perform” rating on the stock. Oppenheimer’s target price suggests a potential downside of 3.33% from the company’s current price.
In other Biogen Idec news, SVP Alfred Sandrock sold 15,030 shares of the stock on the open market in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $250.11, for a total transaction of $3,759,153.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Biogen Idec (NASDAQ:BIIB) traded down 0.45% during mid-day trading on Tuesday, hitting $243.10. 1,593,538 shares of the company’s stock traded hands. Biogen Idec has a one year low of $134.00 and a one year high of $262.00. The stock’s 50-day moving average is $242.5 and its 200-day moving average is $224.4. The company has a market cap of $57.778 billion and a P/E ratio of 36.17.
Biogen Idec (NASDAQ:BIIB) last posted its quarterly earnings results on Monday, October 28th. The company reported $2.35 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.10 by $0.25. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the company posted $1.91 earnings per share. Biogen Idec’s revenue was up 31.9% compared to the same quarter last year. Analysts expect that Biogen Idec will post $8.87 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on BIIB. Analysts at Guggenheim raised their price target on shares of Biogen Idec from $228.00 to $247.00 in a research note to investors on Tuesday, October 29th. They now have a “neutral” rating on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Biogen Idec from $292.00 to $291.00 in a research note to investors on Tuesday, October 29th. They now have a “buy” rating on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Biogen Idec from $237.00 to $249.00 in a research note to investors on Tuesday, October 29th. They now have a “market perform” rating on the stock. Ten analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Biogen Idec currently has a consensus rating of “Buy” and a consensus target price of $259.05.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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