Deutsche Bank Gives Buy Rating to Biogen Idec (BIIB)
Biogen Idec (NASDAQ: BIIB)‘s stock had its “buy” rating reaffirmed by research analysts at Deutsche Bank (NYSE: DB) in a report released on Monday.
Biogen Idec traded down 2.10% on Monday, hitting $131.20. Biogen Idec has a 52-week low of $83.83 and a 52-week high of $134.50. The company has a market cap of $31.321 billion and a price-to-earnings ratio of 26.59.
The company last announced its quarterly results on Tuesday, May 1st. It reported $1.40 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $1.49 EPS by $0.09. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts expect that Biogen Idec will post $1.56 EPS next quarter.
BIIB has been the subject of a number of other recent research reports. Analysts at Oppenheimer (NYSE: OPY) raised their price target on shares of Biogen Idec from $127.00 to $136.00 in a research note to investors on Wednesday, April 25th. They now have an “outperform” rating on the stock. Separately, analysts at Jefferies Group (NYSE: JEF) reiterated a “buy” rating on shares of Biogen Idec in a research note to investors on Monday, April 23rd. Finally, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of Biogen Idec from $130.00 to $140.00 in a research note to investors on Monday, April 16th. They now have an “overweight” rating on the stock.
Biogen Idec Inc. (Biogen Idec) is a global biotechnology company focused on discovering, developing, manufacturing and marketing products for the treatment of neurological disorders and other serious diseases.