Investment analysts at Jefferies Group hoisted their target price on shares of Biogen Idec (NASDAQ:BIIB) from $248.00 to $266.00 in a note issued to investors on Friday, Stock Ratings Network.com reports. The firm currently has a “buy” rating on the stock. Jefferies Group’s target price suggests a potential upside of 19.16% from the stock’s previous close.
Shares of Biogen Idec (NASDAQ: BIIB) opened at 223.23 on Friday. Biogen Idec has a 52 week low of $134.00 and a 52 week high of $242.64. The stock’s 50-day moving average is currently $216.8. The company has a market cap of $53.013 billion and a P/E ratio of 33.07.
Biogen Idec (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.30 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.93 by $0.37. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the company posted $1.82 earnings per share. Biogen Idec’s revenue was up 21.3% compared to the same quarter last year. Biogen Idec has set its FY13 guidance at $8.25-8.50 EPS. Analysts expect that Biogen Idec will post $8.52 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Leerink Swann reiterated an “outperform” rating on shares of Biogen Idec in a research note to investors on Thursday. They now have a $271.00 price target on the stock. Separately, analysts at Zacks downgraded shares of Biogen Idec from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, July 23rd. They now have a $243.00 price target on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Biogen Idec from $160.00 to $166.00 in a research note to investors on Wednesday, July 17th. They now have a “market perform” rating on the stock.
Eleven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $242.91.
Biogen Idec Inc (NASDAQ: BIIB) is a global biotechnology company.
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