Bioverativ (NASDAQ:BIVV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, January 8th. The brokerage currently has a $62.00 price target on the biotechnology company’s stock. Zacks Investment Research‘s target price would indicate a potential downside of 2.93% 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. “
Other analysts have also recently issued reports about the stock. Argus raised shares of Bioverativ from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Wednesday, September 20th. Deutsche Bank set a $53.00 price target on shares of Bioverativ and gave the stock a “hold” rating in a research report on Monday, November 20th. 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. Royal Bank of Canada started coverage on shares of Bioverativ in a research report on Thursday, September 14th. They set a “sector perform” rating and a $59.00 price target for the company. Finally, Morgan Stanley reissued an “underweight” rating and issued a $47.00 price objective (up from $45.00) on shares of Bioverativ in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $60.47.
Shares of Bioverativ (NASDAQ:BIVV) traded up $0.12 during trading on Monday, reaching $63.87. 893,700 shares of the company were exchanged, compared to its average volume of 1,042,350. Bioverativ has a 12-month low of $40.99 and a 12-month high of $65.09. The stock has a market cap of $6,910.00 and a PE ratio of 15.62.
Bioverativ (NASDAQ:BIVV) last announced 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 net margin of 40.44% and a return on equity of 69.03%. The firm had revenue of $291.60 million during the quarter, compared to analysts’ expectations of $285.45 million. Bioverativ’s revenue for the quarter was up 27.2% on a year-over-year basis. analysts predict that Bioverativ will post 2.55 EPS for the current year.
Several institutional investors have recently modified their holdings of BIVV. Wells Fargo & Company MN acquired a new stake in shares of Bioverativ in the 3rd quarter valued at about $124,500,000. Woodford Investment Management Ltd acquired a new stake in shares of Bioverativ in the 3rd quarter valued at about $85,455,000. Jackson Square Partners LLC acquired a new stake in shares of Bioverativ in the 3rd quarter valued at about $99,336,000. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Bioverativ in the 3rd quarter valued at about $96,827,000. Finally, ValueAct Holdings L.P. acquired a new stake in shares of Bioverativ in the 3rd quarter valued at about $72,514,000. Institutional investors and hedge funds own 96.03% 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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