Morgan Stanley Raises Biogen Idec EPS Estimates (BIIB)
Analysts at Morgan Stanley (NYSE: MS) upped their earnings per share (EPS) estimates on shares of Biogen Idec (NASDAQ: BIIB) in a research report issued to clients and investors on Wednesday. The firm currently has an “overweight” rating and a $140.00 price target on the company’s shares.
Other equities research analysts have also recently issued reports about the stock. Analysts at Jefferies Group (NYSE: JEF) raised their price target on shares of Biogen Idec from $137.00 to $154.00 in a research note to investors on Wednesday. Separately, analysts at Robert W. Baird reiterated a “neutral” rating on shares of Biogen Idec in a research note to investors on Tuesday. Finally, analysts at Deutsche Bank (NYSE: DB) reiterated a “buy” rating on shares of Biogen Idec in a research note to investors on Monday.
Biogen Idec traded down 0.67% on Wednesday, hitting $134.26. Biogen Idec has a 52-week low of $83.83 and a 52-week high of $135.39. The company has a market cap of $32.051 billion and a price-to-earnings ratio of 26.82.
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 $1.59 EPS next quarter.
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.