Biogen Idec (BIIB) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS
Biogen Idec (NASDAQ:BIIB) issued its quarterly earnings data on Wednesday. The company reported $2.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.27 by $0.07, ARN reports. The company had revenue of $2.00 billion for the quarter, compared to the consensus estimate of $1.93 billion.
BIIB has been the subject of a number of recent research reports. Analysts at Deutsche Bank raised their price target on shares of Biogen Idec from $340.00 to $415.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. On a related note, 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. Finally, 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. Ten investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Biogen Idec has a consensus rating of “Buy” and an average price target of $287.92.
In other Biogen Idec news, Director Eric Rowinsky unloaded 2,020 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $310.09, for a total value of $626,381.80. Following the completion of 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) opened at 305.65 on Wednesday. Biogen Idec has a 52-week low of $152.92 and a 52-week high of $315.38. The stock’s 50-day moving average is $287.2 and its 200-day moving average is $249.5. 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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