Biogen Idec Earns “AA-” Credit Rating from Morningstar (BIIB)
Biogen Idec (NASDAQ:BIIB) has received an “AA-” credit rating from analysts at Morningstar. The credit rating agency’s “AA-” rating indicates that the company is a very-low default risk. They also issued a negative credit outlook for the company and gave their stock a two star rating.
A number of other firms have also recently commented on BIIB. Analysts at Stifel Nicolaus initiated coverage on shares of Biogen Idec in a research note on Tuesday, August 19th. They set a “buy” rating and a $376.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Biogen Idec in a research note on Monday, August 18th. They now have a $395.00 price target on the stock. Finally, 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. Four investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Biogen Idec presently has an average rating of “Buy” and an average target price of $363.05.
Shares of Biogen Idec (NASDAQ:BIIB) opened at 342.68 on Wednesday. Biogen Idec has a one year low of $221.07 and a one year high of $358.89. The stock’s 50-day moving average is $330.5 and its 200-day moving average is $317.0. The company has a market cap of $80.922 billion and a price-to-earnings ratio of 38.16.
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. On average, analysts predict that Biogen Idec will post $13.10 earnings per share for the current fiscal year.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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