Biogen Idec Inc. Hits New 52-Week High at $318.42 (BIIB)
Shares of Biogen Idec (NASDAQ:BIIB) hit a new 52-week high on Wednesday, Analyst Ratings Net reports. The company traded as high as $318.42 and last traded at $304.26, with a volume of 1,936,396 shares trading hands. The stock had previously closed at $305.65.
A number of research firms have recently commented on BIIB. 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. Separately, 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 analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus 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 stock was sold at an average price of $310.09, for a total value of $626,381.80. Following the completion of the sale, the director now directly owns 10,440 shares in the company, valued at approximately $3,237,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Biogen Idec has a 1-year low of $152.92 and a 1-year 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 $71.301 billion and a price-to-earnings ratio of 42.93.
Biogen Idec (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, January 29th. The company reported $2.34 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.27 by $0.07. The company had revenue of $2.00 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the company posted $1.40 earnings per share. Biogen Idec’s revenue was up 38.6% compared to the same quarter last year. On average, analysts predict that Biogen Idec will post $8.90 earnings per share for the current fiscal year.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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