Royal Bank of Canada Boosts Bioverativ (BIVV) Price Target to $68.00

Bioverativ (NASDAQ:BIVV) had its price target hoisted 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 analysts have also weighed in on BIVV. Jefferies Group increased their price target on Bioverativ to $79.00 and gave the company a buy rating in a report on Thursday. Credit Suisse Group restated a neutral rating and set a $65.00 price target on shares of Bioverativ in a report on Thursday. Morgan Stanley restated an underweight rating and set a $47.00 price target (up previously from $45.00) on shares of Bioverativ in a report on Friday, October 6th. Argus upgraded Bioverativ from a hold rating to a buy rating and set a $64.00 price target on the stock in a report on Wednesday, September 20th. Finally, Piper Jaffray Companies restated an overweight rating and set a $71.00 price target on shares of Bioverativ in a report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Bioverativ currently has an average rating of Hold and an average price target of $62.53.

Bioverativ (NASDAQ BIVV) traded up $1.36 during trading hours on Thursday, reaching $64.11. The company had a trading volume of 712,830 shares, compared to its average volume of 994,808. Bioverativ has a one year low of $40.99 and a one year high of $65.09. The stock has a market cap of $6,940.00 and a price-to-earnings ratio of 15.67.

Bioverativ (NASDAQ:BIVV) last released its quarterly earnings results on Thursday, October 26th. The biotechnology company reported $0.80 earnings per share for the quarter, beating 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 company had revenue of $291.60 million for the quarter, compared to analyst estimates of $285.45 million. The business’s revenue was up 27.2% compared to the same quarter last year. equities analysts forecast that Bioverativ will post 2.69 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN purchased a new stake in Bioverativ in the third quarter worth $124,500,000. Woodford Investment Management Ltd purchased a new stake in Bioverativ in the third quarter worth $85,455,000. Jackson Square Partners LLC purchased a new stake in Bioverativ in the third quarter worth $99,336,000. Old Mutual Global Investors UK Ltd. purchased a new stake in Bioverativ in the third quarter worth $96,827,000. Finally, ValueAct Holdings L.P. purchased a new stake in Bioverativ in the third quarter worth $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.

Analyst Recommendations for Bioverativ (NASDAQ:BIVV)

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