Nomura Reiterates Buy Rating for Biogen Idec (BIIB)
Biogen Idec (NASDAQ:BIIB)‘s stock had its “buy” rating reaffirmed by analysts at Nomura in a research report issued to clients and investors on Thursday, Analyst RN reports. They currently have a $415.00 price objective on the stock. Nomura’s price target indicates a potential upside of 35.29% from the company’s current price.
Biogen Idec (NASDAQ:BIIB) traded down 3.82% on Thursday, hitting $295.0175. The stock had a trading volume of 997,035 shares. Biogen Idec has a 52-week low of $194.66 and a 52-week high of $358.89. The stock has a 50-day moving average of $313.6 and a 200-day moving average of $289.. The company has a market cap of $69.740 billion and a price-to-earnings ratio of 39.28.
Biogen Idec (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, April 23rd. The company reported $2.47 EPS for the quarter, missing the Thomson Reuters consensus estimate of $2.56 by $0.09. The company had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.00 billion. During the same quarter in the prior year, the company posted $1.80 earnings per share. The company’s quarterly revenue was up 50.5% on a year-over-year basis. On average, analysts predict that Biogen Idec will post $11.34 earnings per share for the current fiscal year.
In other Biogen Idec news, EVP Steven Holtzman sold 1,221 shares of the stock on the open market in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $291.00, for a total value of $355,311.00. Following the sale, the executive vice president now directly owns 6,970 shares of the company’s stock, valued at approximately $2,028,270. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of other firms have also recently commented on BIIB. Analysts at Morgan Stanley initiated coverage on shares of Biogen Idec in a research note on Wednesday, March 26th. They set an “overweight” rating and a $395.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Biogen Idec in a research note on Friday, March 21st. Finally, analysts at Stifel Nicolaus raised their price target on shares of Biogen Idec from $360.00 to $376.00 in a research note on Wednesday, March 19th. They now have a “buy” rating on the stock. Seven analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Biogen Idec presently has an average rating of “Buy” and an average target price of $323.70.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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