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Analysts at Leerink Swann hoisted their price objective on shares of Biogen Idec (NASDAQ:BIIB) to $351.00 in a research report issued to clients and investors on Thursday, AR Network reports. The firm currently has an “outperform” rating on the stock. Leerink Swann’s price objective indicates a potential upside of 6.87% from the company’s current price.

BIIB has been the subject of a number of other recent research reports. Analysts at TheStreet reiterated a “buy” rating on shares of Biogen Idec in a research note on Tuesday. Finally, analysts at Zacks upgraded shares of Biogen Idec from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 4th. They now have a $375.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $303.13.

Biogen Idec (NASDAQ:BIIB) traded up 1.16% on Thursday, hitting $332.26. The stock had a trading volume of 618,660 shares. Biogen Idec has a 1-year low of $160.42 and a 1-year high of $335.99. The stock has a 50-day moving average of $304.2 and a 200-day moving average of $259.7. The company has a market cap of $78.544 billion and a price-to-earnings ratio of 42.06.

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 $11.35 earnings per share for the current fiscal year.

In other Biogen Idec news, EVP Steven H. Holtzman unloaded 1,222 shares of Biogen Idec stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $327.90, for a total transaction of $400,693.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.

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