Goldman Sachs Reaffirms Buy Rating on Biogen Idec (BIIB)
A number of other analysts have also recently weighed in on BIIB. Analysts at UBS AG (NYSE: UBS) raised their price target on shares of Biogen Idec from $135.00 to $148.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Biogen Idec in a research note to investors on Wednesday, May 2nd. They now have a $138.00 price target on the stock. Finally, analysts at Morgan Stanley (NYSE: MS) raised their EPS on shares of Biogen Idec in a research note to investors on Wednesday, May 2nd. They now have an “overweight” rating and a $140.00 price target on the stock.
Shares of Biogen Idec opened at 134.31 on Thursday. Biogen Idec has a 52 week low of $83.83 and a 52 week high of $133.54. The company has a market cap of $32.176 billion and a P/E ratio of 26.39.
Biogen Idec last announced its earnings results on Tuesday, May 1st. The company reported $1.40 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.49 by $0.09. The company’s quarterly revenue was up 7.4% on a year-over-year basis. On average, analysts predict that Biogen Idec will post $1.59 earnings per share next quarter.
Biogen Idec Inc. (Biogen Idec) is a global biotechnology company. The Company discovers, develops, manufactures and markets therapies for the treatment of neurodegenerative diseases, hemophilia and autoimmune disorders.