FBR & Co. upgraded shares of Biogen Idec (NASDAQ:BIIB) from an underperform rating to a market perform rating in a research report released on Wednesday morning, American Banking News reports.
Biogen Idec (NASDAQ:BIIB) traded down 0.45% on Wednesday, hitting $243.10. The stock had a trading volume of 1,593,338 shares. 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 $242.3 and its 200-day moving average is $224.1. The company has a market cap of $57.778 billion and a price-to-earnings ratio of 36.17.
Biogen Idec (NASDAQ:BIIB) last announced its earnings results on Monday, October 28th. The company reported $2.35 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.91 earnings per share. The company’s quarterly revenue was up 31.9% on a year-over-year basis. Analysts expect that Biogen Idec will post $8.87 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at FBR Capital Markets initiated coverage on shares of Biogen Idec in a research note to investors on Wednesday. They set a market perform rating and a $259.00 price target on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Biogen Idec from $207.00 to $235.00 in a research note to investors on Tuesday. They now have a market perform rating on the stock. Finally, analysts at Guggenheim raised their price target on shares of Biogen Idec from $228.00 to $247.00 in a research note to investors on Tuesday. They now have a neutral rating on the stock. Ten research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $259.05.
In other Biogen Idec news, SVP Alfred Sandrock sold 15,030 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $250.11, for a total value of $3,759,153.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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