Biogen Idec PT Lowered to $291.00 (BIIB)
Investment analysts at Canaccord Genuity dropped their price target on shares of Biogen Idec (NASDAQ:BIIB) from $292.00 to $291.00 in a note issued to investors on Tuesday, Analyst Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price would indicate a potential upside of 19.70% from the stock’s previous close.
In other Biogen Idec news, SVP Alfred Sandrock unloaded 15,030 shares of the stock 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 sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Several other analysts have also recently commented on the stock. 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. Separately, analysts at Barclays raised their price target on shares of Biogen Idec from $240.00 to $262.00 in a research note to investors on Tuesday, October 29th. They now have an “overweight” rating on the stock. Finally, analysts at Jefferies Group raised their price target on shares of Biogen Idec from $270.00 to $300.00 in a research note to investors on Tuesday, October 29th. They now have a “buy” rating on the stock. Ten investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $259.05.
Biogen Idec (NASDAQ:BIIB) traded down 0.45% on Tuesday, hitting $243.10. The stock had a trading volume of 1,593,538 shares. Biogen Idec has a 52 week low of $134.00 and a 52 week 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 price-to-earnings ratio of 36.17.
Biogen Idec (NASDAQ:BIIB) last announced its earnings results on Monday, October 28th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $1.91 earnings per share. The company’s revenue for the quarter was up 31.9% on a year-over-year basis. On average, analysts predict that Biogen Idec will post $8.87 earnings per share for the current fiscal year.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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