Biogen Idec Price Target Increased to $398.00 by Analysts at Jefferies Group (BIIB)
Analysts at Jefferies Group boosted their price target on shares of Biogen Idec (NASDAQ:BIIB) from $358.00 to $398.00 in a research report issued to clients and investors on Wednesday, American Banking and Market News reports. Jefferies Group’s target price indicates a potential upside of 14.93% from the stock’s previous close.
Shares of Biogen Idec (NASDAQ:BIIB) traded down 0.89% on Wednesday, hitting $343.21. The stock had a trading volume of 1,192,367 shares. Biogen Idec has a one year low of $164.45 and a one year high of $353.47. The stock has a 50-day moving average of $312.3 and a 200-day moving average of $263.6. The company has a market cap of $81.132 billion and a price-to-earnings ratio of 44.34.
Biogen Idec (NASDAQ:BIIB) last announced its 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. Analysts expect that Biogen Idec will post $11.35 EPS for the current fiscal year.
BIIB has been the subject of a number of other recent research reports. Analysts at Leerink Swann raised their price target on shares of Biogen Idec from $322.00 to $351.00 in a research note on Thursday, February 20th. They now have an “outperform” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Biogen Idec in a research note on Tuesday, February 18th. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Biogen Idec in a research note on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Biogen Idec presently has a consensus rating of “Buy” and a consensus target price of $307.21.
In other Biogen Idec news, EVP Steven Holtzman unloaded 1,222 shares of Biogen Idec stock on the open market in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $327.90, for a total transaction of $400,693.80. Following the sale, the executive vice president now directly owns 9,412 shares of the company’s stock, valued at approximately $3,086,195. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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