Biogen Idec PT Raised to $310.00 (BIIB)
Equities research analysts at UBS AG upped their price objective on shares of Biogen Idec (NASDAQ:BIIB) from $300.00 to $310.00 in a research note issued to investors on Thursday, American Banking News.com reports. The firm currently has a “neutral” rating on the stock. UBS AG’s target price would indicate a potential upside of 2.11% from the stock’s previous close.
In other Biogen Idec news, Director Eric Rowinsky sold 2,020 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $3,237,340. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Biogen Idec (NASDAQ:BIIB) traded up 4.20% during mid-day trading on Thursday, hitting $318.28. 1,813,413 shares of the company’s stock traded hands. Biogen Idec has a 52 week low of $154.04 and a 52 week high of $318.42. The stock has a 50-day moving average of $287.8 and a 200-day moving average of $250.0. The company has a market cap of $75.182 billion and a P/E ratio of 42.91.
Biogen Idec (NASDAQ:BIIB) last announced its earnings results on Wednesday, January 29th. The company reported $2.34 EPS for the quarter, beating the Thomson Reuters 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 in the previous year, the company posted $1.40 earnings per share. The company’s revenue for the quarter was up 38.6% on a year-over-year basis. Analysts expect that Biogen Idec will post $11.56 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. 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 given a buy rating to the company’s stock. Biogen Idec presently has a consensus rating of “Buy” and a consensus price target of $298.75.
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.