Bioverativ (BIVV) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Bioverativ (NASDAQ:BIVV) from a hold rating to a buy rating in a research report sent to investors on Monday. They currently have $60.00 target price on the biotechnology company’s stock.
According to Zacks, “Bioverativ Inc. is a biotechnology company. It focuses on the discovery, research, development, and commercialization of innovative therapies for the treatment of hemophilia and other blood disorders. Bioverativ Inc. is based in Waltham, United States. “
Several other research analysts also recently weighed in on BIVV. Royal Bank of Canada initiated coverage on Bioverativ in a research note on Thursday, September 14th. They set a sector perform rating and a $59.00 target price on the stock. Argus upgraded Bioverativ from a hold rating to a buy rating and set a $64.00 target price on the stock in a research note on Wednesday, September 20th. Morgan Stanley restated an underweight rating and set a $47.00 target price (up from $45.00) on shares of Bioverativ in a research note on Friday, October 6th. Piper Jaffray Companies restated an overweight rating and set a $71.00 target price on shares of Bioverativ in a research note on Monday, October 23rd. Finally, Deutsche Bank set a $53.00 target price on Bioverativ and gave the stock a hold rating in a research note on Monday, November 20th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $60.33.
Bioverativ (NASDAQ:BIVV) last announced its earnings results on Thursday, October 26th. The biotechnology company reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.25. Bioverativ had a return on equity of 69.03% and a net margin of 40.44%. The firm had revenue of $291.60 million for the quarter, compared to the consensus estimate of $285.45 million. The firm’s revenue for the quarter was up 27.2% on a year-over-year basis. analysts predict that Bioverativ will post 2.45 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. purchased a new stake in Bioverativ during the 3rd quarter valued at about $137,000. TCI Wealth Advisors Inc. purchased a new stake in Bioverativ during the 3rd quarter valued at about $186,000. Ladenburg Thalmann Financial Services Inc. purchased a new stake in Bioverativ during the 3rd quarter valued at about $190,000. Canada Pension Plan Investment Board purchased a new stake in Bioverativ during the 3rd quarter valued at about $194,000. Finally, ACG Wealth purchased a new stake in Bioverativ during the 3rd quarter valued at about $205,000. Institutional investors and hedge funds own 95.99% of the company’s stock.
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Bioverativ Company Profile
Bioverativ Inc (Bioverativ) is a biotechnology company. The Company is focused on the discovery, research, development and commercialization of therapies for the treatment of hemophilia and other blood disorders. It markets approximately two products, including ELOCTATE [Antihemophilic Factor (Recombinant), Fc Fusion Protein], and ALPROLIX [Coagulation Factor IX (Recombinant), Fc Fusion Protein], extended half-life clotting-factor therapies for the treatment of hemophilia A and hemophilia B, respectively.
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