Bioverativ (BIVV) Price Target Increased to $68.00 by Analysts at Royal Bank of Canada

Bioverativ (NASDAQ:BIVV) had its price objective upped by Royal Bank of Canada to $68.00 in a research note released on Thursday. The firm currently has a market perform rating on the biotechnology company’s stock.

Several other research analysts also recently weighed in on BIVV. Argus upgraded Bioverativ from a hold rating to a buy rating and set a $64.00 price target for the company in a research note on Wednesday, September 20th. Morgan Stanley restated an underweight rating and issued a $47.00 price target (up from $45.00) on shares of Bioverativ in a research note on Friday, October 6th. Zacks Investment Research raised Bioverativ from a hold rating to a strong-buy rating and set a $69.00 price objective on the stock in a report on Thursday, October 19th. Piper Jaffray Companies reaffirmed an overweight rating and set a $71.00 price objective on shares of Bioverativ in a report on Monday, October 23rd. Finally, Deutsche Bank set a $53.00 price objective on Bioverativ and gave the stock a hold rating in a report on Monday, November 20th. One 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’s stock. The company has an average rating of Hold and a consensus price target of $62.53.

Bioverativ (NASDAQ BIVV) traded up $1.36 during mid-day trading on Thursday, reaching $64.11. The company’s stock had a trading volume of 712,830 shares, compared to its average volume of 994,808. Bioverativ has a 1-year low of $40.99 and a 1-year high of $65.09. The company has a market cap of $6,940.00 and a P/E ratio of 15.67.

Bioverativ (NASDAQ:BIVV) last posted its quarterly earnings results on Thursday, October 26th. The biotechnology company reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.25. Bioverativ had a return on equity of 69.03% and a net margin of 40.44%. The business had revenue of $291.60 million during the quarter, compared to the consensus estimate of $285.45 million. Bioverativ’s revenue was up 27.2% compared to the same quarter last year. sell-side analysts expect that Bioverativ will post 2.69 EPS for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. purchased a new stake in shares of Bioverativ during the 3rd quarter worth approximately $137,000. TCI Wealth Advisors Inc. purchased a new stake in Bioverativ during the 3rd quarter valued at $186,000. Ladenburg Thalmann Financial Services Inc. purchased a new stake in Bioverativ during the 3rd quarter valued at $190,000. Canada Pension Plan Investment Board purchased a new stake in Bioverativ during the 3rd quarter valued at $194,000. Finally, ACG Wealth purchased a new stake in Bioverativ during the 3rd quarter valued at $205,000. 96.03% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Bioverativ (NASDAQ:BIVV)

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