Stock analysts at Guggenheim upped their price objective on shares of Biogen Idec (NASDAQ:BIIB) from $228.00 to $247.00 in a report issued on Tuesday, Analyst Ratings Net reports. The firm currently has a “neutral” rating on the stock. Guggenheim’s price target indicates a potential downside of 2.90% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Canaccord Genuity cut their price target on shares of Biogen Idec from $292.00 to $291.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Biogen Idec from $237.00 to $249.00 in a research note to investors on Tuesday. They now have a “market perform” rating on the stock. Finally, analysts at Barclays raised their price target on shares of Biogen Idec from $240.00 to $262.00 in a research note to investors on Tuesday. They now have an “overweight” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Biogen Idec has an average rating of “Buy” and an average price target of $259.05.
In other Biogen Idec news, SVP Alfred Sandrock unloaded 15,030 shares of the stock on the open market in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $250.11, for a total value of $3,759,153.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of Biogen Idec (NASDAQ:BIIB) traded down 0.02% during mid-day trading on Tuesday, hitting $254.39. The stock had a trading volume of 875,339 shares. Biogen Idec has a one year low of $134.00 and a one year high of $242.64. The stock’s 50-day moving average is $218.0 and its 200-day moving average is $209.5. The company has a market cap of $60.461 billion and a P/E ratio of 37.69.
Biogen Idec (NASDAQ:BIIB) last posted its quarterly earnings results on Monday, October 28th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.25. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the company posted $1.91 earnings per share. The company’s revenue for the quarter was up 31.9% on a year-over-year basis. On average, analysts predict that Biogen Idec will post $8.70 earnings per share for the current fiscal year.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.