Jefferies & Co Reiterates Biogen Idec Inc. (NASDAQ:BIIB) Hold Rating; Lowers PT to $316 from $323

In a note to investors, Jefferies & Co reiterated their Hold rating on Biogen Idec Inc. (NASDAQ:BIIB), lowing their price target to $316.
Shares of Biogen Idec Inc. (NASDAQ:BIIB) are trading -0.54% at the time of writing and in the range of $308.60 – 313.32 for the current session.

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On a consensus level, sell-side research analysts have a consensus price target of $342.21 on the stock. This is the average of the individual targets from the covering analysts polled by Thomson Reuters First Call. Analysts are projecting that the company will report earnings per share of $0.00 for next quarter. For the current year, research firms are anticipating earnings of $20.10 per share.

Technical Look

On a technical level, the stock has a 50-Day Moving Average of 309.05 based on a recent trade, putting the equity at +0.24% away from that average. In comparing the stock’s current level to its extended history, the stock is trading -7.15% away from its 52-week high of 333.65 and +38.91% away from the stock’s low point over the past 52 weeks, which was $223.02.

The price to earnings ratio, or the valuation ratio of a company’s current share price compared to its per-share earnings sits at 18.10. This is an important indicator as a higher ratio typically suggests that investors are expecting higher future earnings growth compared to companies in the same industry with lower price to earnings ratios. When calculating in the EPS estimates for the current year from sell-side analysts, the Price to current year EPS stands at N/A. Investors looking further ahead will note that the price to next year’s EPS is $N/A.

Today the stck opened the current trading session at $311.00 and at the time of writing the last bid was at $N/A. In the current session the stock reached as high as $313.32 and dipped down to $308.60.

Biogen Inc., an NMS listed company, has a current market cap of $67.88B and on average over the past 3 months has seen 1709150 shares trade hands on a daily basis.

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Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals.

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