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Stock analysts at Stifel Nicolaus began coverage on shares of Biogen Idec (NASDAQ:BIIB) in a report issued on Tuesday. The firm set a “buy” rating and a $376.00 price target on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 9.11% from the stock’s previous close.

Biogen Idec (NASDAQ:BIIB) opened at 344.60 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 $324.9 and its 200-day moving average is $314.9. The company has a market cap of $81.375 billion and a price-to-earnings ratio of 38.34.

Biogen Idec (NASDAQ:BIIB) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported $3.49 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $2.30 earnings per share. The company’s revenue for the quarter was up 40.5% on a year-over-year basis. On average, analysts predict that Biogen Idec will post $13.10 earnings per share for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Biogen Idec in a research note on Monday. They now have a $395.00 price target on the stock. Separately, 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. Finally, 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. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $363.05.

Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.

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