Bioverativ (NASDAQ:BIVV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage presently has a $62.00 target price on the biotechnology company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 5.03% from the company’s previous close.
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 equities analysts also recently commented on the company. Deutsche Bank set a $53.00 target price on Bioverativ and gave the company a “hold” rating in a research report on Monday, November 20th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $71.00 target price on shares of Bioverativ in a research report on Monday, October 23rd. Morgan Stanley reiterated an “underweight” rating and issued a $47.00 target price (up from $45.00) on shares of Bioverativ in a research report on Friday, October 6th. Argus upgraded Bioverativ from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Wednesday, September 20th. Finally, Royal Bank of Canada began coverage on Bioverativ in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $59.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Bioverativ presently has a consensus rating of “Hold” and an average target price of $60.47.
Bioverativ (NASDAQ:BIVV) traded up $3.90 during trading hours on Monday, reaching $59.03. The company had a trading volume of 2,297,200 shares, compared to its average volume of 912,733. The firm has a market capitalization of $6,390.00 and a price-to-earnings ratio of 14.43. Bioverativ has a fifty-two week low of $40.00 and a fifty-two week high of $64.41.
Bioverativ (NASDAQ:BIVV) last released its quarterly earnings data on Thursday, October 26th. The biotechnology company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.25. The business had revenue of $291.60 million for the quarter, compared to analyst estimates of $285.45 million. Bioverativ had a return on equity of 69.03% and a net margin of 40.44%. The firm’s revenue for the quarter was up 27.2% compared to the same quarter last year. sell-side analysts forecast that Bioverativ will post 2.48 EPS for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in shares of Bioverativ during the third quarter worth about $137,000. TCI Wealth Advisors Inc. bought a new position in shares of Bioverativ during the third quarter worth about $186,000. Ladenburg Thalmann Financial Services Inc. bought a new position in shares of Bioverativ during the third quarter worth about $190,000. Canada Pension Plan Investment Board bought a new position in shares of Bioverativ during the third quarter worth about $194,000. Finally, ACG Wealth bought a new position in shares of Bioverativ during the third quarter worth about $205,000. Institutional investors 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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