Bioverativ’s (BIVV) “Overweight” Rating Reiterated at Piper Jaffray Companies
Bioverativ Inc (NASDAQ:BIVV)‘s stock had its “overweight” rating reaffirmed by stock analysts at Piper Jaffray Companies in a research note issued to investors on Monday. They currently have a $71.00 price objective on the biotechnology company’s stock. Piper Jaffray Companies’ price objective indicates a potential upside of 17.90% from the stock’s previous close.
A number of other research analysts also recently commented on BIVV. Morgan Stanley reiterated an “underweight” rating and set a $47.00 target price (up from $45.00) on shares of Bioverativ in a research report on Friday, October 6th. Jefferies Group LLC reiterated a “buy” rating and set a $70.00 target price (up from $67.00) on shares of Bioverativ in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Bioverativ from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Argus upgraded Bioverativ from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Wednesday, September 20th. Finally, Wedbush reiterated a “market perform” rating on shares of Bioverativ in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $61.73.
Shares of Bioverativ (NASDAQ:BIVV) traded down 1.73% during midday trading on Monday, hitting $59.18. 91,369 shares of the stock were exchanged. The firm’s 50-day moving average is $57.55 and its 200 day moving average is $57.92. The firm has a market cap of $6.40 billion and a PE ratio of 14.07. Bioverativ has a 52-week low of $40.00 and a 52-week high of $64.41.
Bioverativ (NASDAQ:BIVV) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.17. The firm had revenue of $289.10 million for the quarter, compared to the consensus estimate of $269.00 million. The firm’s revenue was up 37.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. On average, analysts forecast that Bioverativ will post $2.93 earnings per share for the current year.
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In other news, Director Brian S. Posner bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were purchased at an average price of $59.19 per share, with a total value of $59,190.00. Following the purchase, the director now owns 6,693 shares in the company, valued at $396,158.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Louis J. Paglia bought 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were purchased at an average cost of $59.70 per share, for a total transaction of $119,400.00. Following the purchase, the director now owns 5,056 shares in the company, valued at approximately $301,843.20. The disclosure for this purchase can be found here.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Whittier Trust Co. of Nevada Inc. acquired a new position in Bioverativ during the 3rd quarter worth about $293,000. APG Asset Management N.V. acquired a new position in Bioverativ during the 3rd quarter worth about $3,048,000. Farmers & Merchants Investments Inc. acquired a new position in Bioverativ during the 3rd quarter worth about $1,837,000. LS Investment Advisors LLC acquired a new position in Bioverativ during the 3rd quarter worth about $511,000. Finally, Oakbrook Investments LLC acquired a new position in Bioverativ during the 3rd quarter worth about $327,000. 91.86% of the stock is currently owned by hedge funds and other institutional investors.
Bioverativ Company Profile
Bioverativ Inc (Bioverativ) is a biotechnology company. The Company is focused on the discovery, research, development and commercialization of therapies for the treatment of hemophilia and other blood disorders. It markets approximately two products, including ELOCTATE [Antihemophilic Factor (Recombinant), Fc Fusion Protein], and ALPROLIX [Coagulation Factor IX (Recombinant), Fc Fusion Protein], extended half-life clotting-factor therapies for the treatment of hemophilia A and hemophilia B, respectively.
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