Biogen Idec Price Target Raised to $177.00 at Morgan Stanley (BIIB)
A number of other analysts have also recently weighed in on BIIB. Analysts at Bank of America raised their EPS on shares of Biogen Idec in a research note to investors on Thursday. They now have a “neutral” rating and a $177.00 price target on the stock. Separately, analysts at Canaccord Genuity upgraded shares of Biogen Idec from a “hold” rating to a “buy” rating in a research note to investors on Wednesday. They now have a $187.00 price target on the stock, up previously from $163.00. Finally, analysts at RBC Capital raised their price target on shares of Biogen Idec from $170.00 to $180.00 in a research note to investors on Friday, February 22nd. They now have an “outperform” rating on the stock.
Fifteen equities research analysts have rated the stock with a buy rating, one has given an overweight rating, and fourteen have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “overweight” and a consensus target price of $174.21.
Shares of Biogen Idec traded up 1.42% during mid-day trading on Friday, hitting $168.70. Biogen Idec has a one year low of $116.30 and a one year high of $171.11. The stock’s 50-day moving average is currently $156.6. The company has a market cap of $39.866 billion and a P/E ratio of 28.88.
Biogen Idec last issued its quarterly earnings data on Monday, January 28th. The company reported $1.40 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.46 by $0.06. The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter last year, the company posted $1.51 earnings per share. Biogen Idec’s revenue was up 6.9% compared to the same quarter last year. Biogen Idec has set its FY13 guidance at $7.15-7.25 EPS. Analysts expect that Biogen Idec will post $7.71 EPS for the current fiscal year.
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.
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