Bioverativ (NASDAQ:BIVV) had its price objective boosted by analysts at Royal Bank of Canada to $68.00 in a research note issued on Thursday. The brokerage currently has a “market perform” rating on the biotechnology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 9.11% from the stock’s previous close.
Several other equities research analysts have also issued reports on the stock. Zacks Investment Research raised shares of Bioverativ from a “hold” rating to a “buy” rating and set a $62.00 price objective for the company in a research note on Monday, January 8th. Deutsche Bank set a $53.00 price objective on shares of Bioverativ and gave the company a “hold” rating in a research note on Monday, November 20th. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $71.00 price objective on shares of Bioverativ in a research note on Monday, October 23rd. Argus raised shares of Bioverativ from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Wednesday, September 20th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $47.00 price objective (up previously from $45.00) on shares of Bioverativ in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Bioverativ has an average rating of “Hold” and a consensus target price of $62.53.
Shares of Bioverativ (NASDAQ BIVV) traded down $1.55 during trading hours on Thursday, hitting $62.32. 939,200 shares of the company’s stock were exchanged, compared to its average volume of 1,032,973. Bioverativ has a 52 week low of $40.99 and a 52 week high of $65.09.
A number of institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN acquired a new position in Bioverativ during the 3rd quarter worth $124,500,000. Woodford Investment Management Ltd bought a new position in shares of Bioverativ during the 3rd quarter worth about $85,455,000. Jackson Square Partners LLC bought a new position in shares of Bioverativ during the 3rd quarter worth about $99,336,000. Old Mutual Global Investors UK Ltd. bought a new position in shares of Bioverativ during the 3rd quarter worth about $96,827,000. Finally, ValueAct Holdings L.P. bought a new position in shares of Bioverativ during the 3rd quarter worth about $72,514,000. 96.03% of the stock is owned by hedge funds and other institutional investors.
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About Bioverativ
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.
