Biogen Idec Receives Consensus Recommendation of “Buy” from Analysts (NASDAQ:BIIB)
Biogen Idec (NASDAQ:BIIB) has received a consensus recommendation of “Buy” from the twenty-five analysts that are presently covering the stock, Stock Ratings Network.com reports. Five equities research analysts have rated the stock with a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $341.32.
A number of research firms have recently commented on BIIB. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Biogen Idec in a research note on Monday, June 9th. They now have a $395.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. upgraded shares of Biogen Idec from a “neutral” rating to an “overweight” rating in a research note on Thursday, May 29th. They now have a $375.00 price target on the stock, up previously from $300.00. Finally, analysts at Oppenheimer reiterated a “market perform” rating on shares of Biogen Idec in a research note on Tuesday, May 27th.
Shares of Biogen Idec (NASDAQ:BIIB) opened at 315.31 on Tuesday. Biogen Idec has a 52 week low of $203.55 and a 52 week high of $358.89. The stock’s 50-day moving average is $308.9 and its 200-day moving average is $306.1. The company has a market cap of $74.791 billion and a price-to-earnings ratio of 39.22.
Biogen Idec (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $2.47 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $1.80 earnings per share. Biogen Idec’s revenue was up 50.5% compared to the same quarter last year. On average, analysts predict that Biogen Idec will post $11.52 earnings per share for the current fiscal year.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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