Bioverativ (NASDAQ:BIVV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors 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 points to a potential downside of 40.11% from the stock’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 equities research analysts have also issued research reports about the stock. Deutsche Bank set a $53.00 price target on shares of Bioverativ and gave the company a “hold” rating in a report on Monday, November 20th. Morgan Stanley restated an “underweight” rating and issued a $47.00 price target (up previously from $45.00) on shares of Bioverativ in a report on Friday, October 6th. Argus upgraded shares of Bioverativ from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Wednesday, September 20th. Piper Jaffray Companies restated an “overweight” rating and issued a $71.00 price target on shares of Bioverativ in a report on Monday, October 23rd. Finally, Royal Bank of Canada started coverage on shares of Bioverativ in a research note on Thursday, September 14th. They set a “sector perform” rating and a $59.00 price objective for the company. Thirteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Bioverativ currently has a consensus rating of “Hold” and an average target price of $62.53.
Bioverativ (BIVV) traded up $0.46 during trading on Monday, reaching $103.52. 3,013,338 shares of the company’s stock traded hands, compared to its average volume of 3,407,936. Bioverativ has a 12 month low of $41.88 and a 12 month high of $104.30.
Several hedge funds have recently added to or reduced their stakes in the company. Quotient Investors LLC purchased a new stake in Bioverativ during the third quarter worth $420,000. Mutual of America Capital Management LLC purchased a new stake in Bioverativ during the third quarter worth $5,062,000. Meeder Asset Management Inc. purchased a new stake in Bioverativ during the third quarter worth $877,000. Rockefeller Financial Services Inc. purchased a new stake in Bioverativ during the third quarter worth $1,480,000. Finally, State Treasurer State of Michigan purchased a new stake in Bioverativ during the third quarter worth $2,323,000. 95.56% of the stock is currently owned by institutional investors and hedge funds.
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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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