Biogen Idec (NASDAQ:BIIB)‘s stock had its “buy” rating reiterated by equities researchers at TheStreet in a research report issued on Tuesday, American Banking & Market News reports.
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, reasonable valuation levels, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Biogen Idec (NASDAQ:BIIB) in a research note to investors on Wednesday, September 4th. They now have a $270.00 price target on the stock. Separately, analysts at Canaccord Genuity raised their price target on shares of Biogen Idec (NASDAQ:BIIB) from $231.00 to $292.00 in a research note to investors on Monday, July 29th. They now have a “buy” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Biogen Idec (NASDAQ:BIIB) from $166.00 to $207.00 in a research note to investors on Friday, July 26th. 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. Biogen Idec presently has a consensus rating of “Buy” and a consensus price target of $247.05.
Shares of Biogen Idec (NASDAQ:BIIB) traded down 0.34% during mid-day trading on Tuesday, hitting $238.745. 335,548 shares of the company’s stock traded hands. 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 $218.4 and its 200-day moving average is $210.3. The company has a market cap of $56.743 billion and a P/E ratio of 35.49.
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. On average, analysts predict that Biogen Idec will post $8.58 earnings per share for the current fiscal year.
In other Biogen Idec news, CEO George Scangos sold 2,239 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $214.40, for a total transaction of $480,041.60. Following the completion of the sale, the chief executive officer now directly owns 43,522 shares of the company’s stock. The sale was disclosed in a filing with the SEC, which is available at this link.
Biogen Idec Inc (NASDAQ:BIIB) is a global biotechnology company.
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