Biogen Idec (NASDAQ: BIIB)‘s stock had its “buy” rating restated by equities researchers at TheStreet in a report issued on Friday.
The analysts wrote, “Biogen Idec (BIIB) has been reiterated by TheStreet Ratings as a buy with a ratings score of A . The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, good cash flow from operations and growth in earnings per share. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.”
Biogen Idec opened at 172.92 on Friday. Biogen Idec has a 1-year low of $118.52 and a 1-year high of $173.72. The stock’s 50-day moving average is currently $159.9. The company has a market cap of $40.863 billion and a price-to-earnings ratio of 29.77.
Biogen Idec last posted its quarterly earnings results on Monday, January 28th. The company reported $1.40 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.46 by $0.06. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the company posted $1.51 earnings per share. Biogen Idec’s revenue was up 6.9% compared to the same quarter last year. Biogen Idec has set its FY13 guidance at $7.15-7.25 EPS. Analysts expect that Biogen Idec will post $7.71 EPS for the current fiscal year.
BIIB has been the subject of a number of other recent research reports. Analysts at Morgan Stanley raised their price target on shares of Biogen Idec from $170.00 to $177.00 in a research note to investors on Friday, March 1st. Separately, analysts at Bank of America raised their EPS on shares of Biogen Idec in a research note to investors on Thursday, February 28th. They now have a “neutral” rating and a $177.00 price target on the stock. Finally, analysts at Canaccord Genuity upgraded shares of Biogen Idec from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, February 27th. They now have a $187.00 price target on the stock, up previously from $163.00.
Fifteen equities research analysts have rated the stock with a buy rating, one has issued an overweight rating, and fourteen have given a hold rating to the company’s stock. Biogen Idec presently has a consensus rating of “overweight” and a consensus target price of $175.74.
Biogen Idec Inc. (Biogen Idec) is a global biotechnology company. The Company discovers, develops, manufactures and markets therapies for the treatment of neurodegenerative diseases, hemophilia and autoimmune disorders.
To view TheStreet’s full report, visit www.thestreetratings.com
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