Bioverativ (BIVV) Price Target Raised to $68.00
Bioverativ (NASDAQ:BIVV) had its price objective hoisted by investment analysts at Royal Bank of Canada to $68.00 in a report released on Thursday. The firm presently has a “market perform” rating on the biotechnology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 9.11% from the company’s current price.
A number of other research firms also recently weighed in on BIVV. Credit Suisse Group reaffirmed a “neutral” rating and set a $65.00 price target on shares of Bioverativ in a research report on Thursday. Jefferies Group upped their price target on Bioverativ to $79.00 and gave the stock a “buy” rating in a research report on Thursday. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $71.00 price target on shares of Bioverativ in a research report on Monday, October 23rd. Zacks Investment Research raised Bioverativ from a “hold” rating to a “strong-buy” rating and set a $69.00 price objective for the company in a report on Thursday, October 19th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $47.00 price objective (up previously from $45.00) on shares of Bioverativ in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Bioverativ has a consensus rating of “Hold” and an average price target of $62.53.
Bioverativ (NASDAQ BIVV) traded down $1.55 during trading hours on Thursday, reaching $62.32. The company’s stock had a trading volume of 939,200 shares, compared to its average volume of 1,032,973. Bioverativ has a 52-week low of $40.99 and a 52-week high of $65.09.
Bioverativ (NASDAQ:BIVV) last released its quarterly earnings results on Thursday, October 26th. The biotechnology company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $285.45 million. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. sell-side analysts expect that Bioverativ will post 2.69 earnings per share for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BP PLC bought a new stake in Bioverativ in the 3rd quarter valued at $799,000. Whittier Trust Co. of Nevada Inc. bought a new position in Bioverativ during the 3rd quarter worth $293,000. Catalyst Capital Advisors LLC bought a new position in Bioverativ during the 3rd quarter worth $5,707,000. American Century Companies Inc. bought a new position in Bioverativ during the 3rd quarter worth $48,168,000. Finally, BNP Paribas Arbitrage SA bought a new position in Bioverativ during the 3rd quarter worth $21,728,000. Institutional investors and hedge funds own 96.03% of the company’s stock.
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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