Equities research analysts at Morgan Stanley raised their price target on shares of Biogen Idec (NASDAQ: BIIB) from $170.00 to $177.00 in a research note issued to investors on Monday.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Biogen Idec in a research note to investors on Friday. 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 given an overweight rating, and fourteen have given a hold rating to the company’s stock. Biogen Idec has a consensus rating of “overweight” and a consensus target price of $175.74.
Biogen Idec traded up 1.02% on Monday, hitting $174.14. Biogen Idec has a 52-week low of $118.52 and a 52-week high of $173.72. The stock’s 50-day moving average is currently $160.7. The company has a market cap of $41.151 billion and a price-to-earnings ratio of 29.93.
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 in the prior year, the company posted $1.51 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. 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.
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.
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