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Biogen Idec (NASDAQ:BIIB) has received a consensus rating of “Buy” from the thirty-one analysts that are currently covering the stock, AmericanBankingNews.com reports. Nine equities research analysts have rated the stock with a hold recommendation and twenty have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $301.00.

Biogen Idec (NASDAQ:BIIB) last posted its quarterly 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 prior year, the company posted $1.40 earnings per share. The company’s quarterly revenue was up 38.6% on a year-over-year basis.

BIIB has been the subject of a number of 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.

In other Biogen Idec news, EVP Steven H. Holtzman unloaded 1,222 shares of Biogen Idec stock on the open market in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $327.90, for a total transaction of $400,693.80. The transaction 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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