Biogen Idec Price Target Increased to $415.00 by Analysts at Deutsche Bank (BIIB)
Equities research analysts at Deutsche Bank boosted their target price on shares of Biogen Idec (NASDAQ:BIIB) from $340.00 to $415.00 in a research note issued to investors on Tuesday, American Banking News.com reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s target price would suggest a potential upside of 36.69% from the stock’s previous close.
A number of other firms have also recently commented on BIIB. Analysts at Canaccord Genuity raised their price target on shares of Biogen Idec from $291.00 to $355.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. They noted that the move was a valuation call. Separately, analysts at Stifel Nicolaus raised their price target on shares of Biogen Idec from $296.00 to $321.00 in a research note to investors on Thursday, January 16th. They now have a “buy” rating on the stock. Finally, 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, January 10th. They now have an “overweight” rating on the stock. Ten research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $287.92.
In other Biogen Idec news, Director Eric Rowinsky sold 2,020 shares of the company’s stock on the open market in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $310.09, for a total transaction of $626,381.80. Following the transaction, the director now directly owns 10,440 shares of the company’s stock, valued at approximately $3,237,340. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Biogen Idec (NASDAQ:BIIB) traded up 2.61% on Tuesday, hitting $305.65. 1,704,342 shares of the company’s stock traded hands. Biogen Idec has a 52 week low of $149.63 and a 52 week high of $315.38. The stock has a 50-day moving average of $286.3 and a 200-day moving average of $248.6. The company has a market cap of $72.198 billion and a price-to-earnings ratio of 41.84.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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