Biogen Idec PT Raised to $247.00 at Guggenheim (BIIB)
Research analysts at Guggenheim raised their target price on shares of Biogen Idec (NASDAQ:BIIB) from $228.00 to $247.00 in a report released on Tuesday, American Banking News.com reports. The firm currently has a “neutral” rating on the stock. Guggenheim’s price target suggests a potential upside of 1.60% from the company’s current price.
In other Biogen Idec news, SVP Alfred Sandrock sold 15,030 shares of the company’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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 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 price-to-earnings ratio of 36.17.
Biogen Idec (NASDAQ:BIIB) last released its earnings data 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.
A number of other firms have also recently commented on BIIB. 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. Separately, 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. Finally, 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. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The company currently has an average 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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