Biogen Idec Receives “Buy” Rating from TheStreet (BIIB)
Biogen Idec (NASDAQ: BIIB)‘s stock had its “buy” rating reaffirmed by TheStreet in a research note issued on Tuesday.
The analysts wrote, “Biogen Idec (BIIB) has been reiterated by TheStreet Ratings as a buy with a ratings score of A . The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, good cash flow from operations and growth in earnings per share. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.”
BIIB has been the subject of a number of other recent research reports. Analysts at Morgan Stanley raised their price target on shares of Biogen Idec from $170.00 to $177.00 in a research note to investors on Monday, March 11th. Finally, analysts at Bank of America raised their EPS on shares of Biogen Idec in a research note to investors on Thursday, February 28th. They now have a “neutral” rating and a $177.00 price target on the stock.
Eleven analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Biogen Idec currently has an average rating of “Buy” and a consensus price target of $169.53.
Biogen Idec (NASDAQ: BIIB) traded up 0.01% on Tuesday, hitting $175.54. Biogen Idec has a 52-week low of $118.52 and a 52-week high of $178.18. The stock’s 50-day moving average is currently $165.5. The company has a market cap of $41.482 billion and a price-to-earnings ratio of 30.47.
Biogen Idec (NASDAQ: BIIB) last released its 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 in the prior year, the company posted $1.51 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. 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. (NASDAQ: BIIB) is a global biotechnology company. The Company discovers, develops, manufactures and markets therapies for the treatment of neurodegenerative diseases, hemophilia and autoimmune disorders.
To view TheStreet’s full report, visit www.thestreetratings.com
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