Stock Update: Biogen Idec Inc. (NASDAQ:BIIB) – New Phase 3 Data Confirm Long-Lasting Characteristics Of ALPROLIX™ and ELOCTATE™ Across Multiple Hemophilia Populations

Biogen Idec Inc. (NASDAQ:BIIB) [Business Wire] – Today Biogen Idec and Swedish Orphan Biovitrum AB announced new results from Phase 3 studies of their investigational long-lasting recombinant factor IX and VIII Fc fusion protein candidates for hemophilia B and A, ALPROLIXTM and ELOCTATETM, including an interim analysis of pediatric pharmacokinetics data.
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Biogen Idec Inc. (BIIB), valued at $67.45B, started the session at $292.99.
 
Looking at the stock, its one day range is $284.70 to $293.17 with a one year range of $139.72 to $298.82.
 
Priced at 32.12x this year’s forecasted earnings, BIIB shares are relatively expensive compared to the industry’s -8.65x forward p/e ratio.
 

 
Consensus earnings for the current quarter by the 26 sell-side analysts covering the stock is an estimate of $2.24 per share, which would be $0.84 better than the year-ago quarter and a $0.02 sequential increase. Investors should also note that the full-year EPS estimate of $8.87 is a $2.34 improvement when compared to the previous year’s annual results.
 
The quarterly earnings estimate is predicated on a consensus revenue forecast of $1.91 Billion. If reported, that would be a 34.51% increase over the year-ago quarter.
 
More recently, FBR Capital Initiated BIIB at Mkt Perform (Oct 30, 2013). Previously, Canaccord Genuity Initiated BIIB at to Hold.
 
The average price target for BIIB shares is $289.96, which is 1.03% below where the stock opened this morning.
 
Biogen Idec Inc. (NASDAQ:BIIB), discovers, develops, manufactures and markets therapies for the treatment of neurodegenerative diseases, hemophilia and autoimmune disorders in the Worldwide. The company was formerly known as IDEC Pharmaceuticals Corporation and changed its name to Biogen Idec Inc. in November 2003.
 
Tag Helper ~ Stock Code: BIIB | Common Company name: Biogen | Full Company name: Biogen Idec Inc. (NASDAQ:BIIB) .

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