Biogen Idec Inc. Hits New 52-Week High at $299.85 (BIIB)
Biogen Idec (NASDAQ:BIIB)’s share price reached a new 52-week high during mid-day trading on Friday, Analyst RN reports. The stock traded as high as $299.85 and last traded at $298.48, with a volume of 1,640,412 shares traded. The stock had previously closed at $289.75.
BIIB has been the subject of a number of recent research reports. Analysts at Barclays raised their price target on shares of Biogen Idec from $285.00 to $325.00 in a research note to investors on Friday. They now have an “overweight” rating on the stock. Separately, analysts at Nomura initiated coverage on shares of Biogen Idec in a research note to investors on Wednesday. They set a “buy” rating and a $368.00 price target on the stock. Finally, analysts at Citigroup Inc. raised their price target on shares of Biogen Idec to $338.00 in a research note to investors on Monday. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $280.00.
In other Biogen Idec news, Director William Young unloaded 15,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $285.11, for a total transaction of $4,276,650.00. Following the completion of the sale, the director now directly owns 18,509 shares of the company’s stock, valued at approximately $5,277,101. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Biogen Idec has a 52-week low of $139.72 and a 52-week high of $299.85. The stock’s 50-day moving average is $283.4 and its 200-day moving average is $242.4. The company has a market cap of $70.701 billion and a P/E ratio of 40.70.
Biogen Idec (NASDAQ:BIIB) last posted its quarterly 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 $8.88 earnings per share for the current fiscal year.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.