Biogen Idec Receives Consensus Recommendation of “Buy” from Analysts (NASDAQ:BIIB)
Biogen Idec (NASDAQ:BIIB) has earned a consensus rating of “Buy” from the twenty-four analysts that are currently covering the stock, Stock Ratings Network reports. Four investment analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $363.05.
Shares of Biogen Idec (NASDAQ:BIIB) opened at 328.88 on Wednesday. Biogen Idec has a 52 week low of $203.55 and a 52 week high of $358.89. The stock has a 50-day moving average of $322.3 and a 200-day moving average of $313.9. The company has a market cap of $77.663 billion and a price-to-earnings ratio of 36.15.
Biogen Idec (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $3.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.81 by $0.68. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.14 billion. During the same quarter last year, the company posted $2.30 earnings per share. Biogen Idec’s revenue was up 40.5% compared to the same quarter last year. Analysts expect that Biogen Idec will post $13.14 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Argus raised their price target on shares of Biogen Idec from $360.00 to $385.00 in a research note on Tuesday, July 29th. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Biogen Idec in a research note on Friday, July 25th. They now have a $404.00 price target on the stock. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Biogen Idec in a research note on Thursday, July 24th. They now have a $430.00 price target on the stock, up previously from $415.00.
In other Biogen Idec news, CEO George A. Scangos sold 1,128 shares of the stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $332.93, for a total transaction of $375,545.04. 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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