Zacks Investment Research cut shares of Bioverativ Inc (NASDAQ:BIVV) from a strong-buy rating to a sell rating in a report released on Wednesday.
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. “
Several other analysts have also recently weighed in on the stock. William Blair initiated coverage on shares of Bioverativ in a research note on Wednesday, June 28th. They issued a market perform rating for the company. Credit Suisse Group increased their price target on shares of Bioverativ from $45.00 to $47.00 and gave the company an underperform rating in a research note on Friday, May 5th. Cowen and Company raised shares of Bioverativ from a market perform rating to an outperform rating in a research note on Monday, July 10th. Jefferies Group LLC reissued a buy rating on shares of Bioverativ in a research note on Friday, June 30th. Finally, Deutsche Bank AG initiated coverage on shares of Bioverativ in a research note on Friday, June 23rd. They issued a hold rating and a $65.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $60.62.
Bioverativ (NASDAQ BIVV) traded down 4.33% during trading on Wednesday, reaching $56.51. The company had a trading volume of 1,197,035 shares. Bioverativ has a 12-month low of $41.88 and a 12-month high of $64.41. The stock has a 50 day moving average of $61.31 and a 200-day moving average of $55.47. The stock has a market capitalization of $6.11 billion and a P/E ratio of 13.43.
Bioverativ (NASDAQ:BIVV) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.17. The firm had revenue of $289.10 million during the quarter, compared to analysts’ expectations of $269 million. During the same period last year, the company earned $0.59 EPS. The business’s quarterly revenue was up 37.5% on a year-over-year basis. On average, analysts forecast that Bioverativ will post $2.90 earnings per share for the current fiscal year.
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In related news, Director Louis J. Paglia acquired 2,000 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were purchased at an average cost of $57.76 per share, for a total transaction of $115,520.00. Following the acquisition, the director now owns 3,056 shares in the company, valued at approximately $176,514.56. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alexander J. Denner acquired 90,000 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The stock was bought at an average price of $55.93 per share, for a total transaction of $5,033,700.00. Following the completion of the acquisition, the director now owns 5,001 shares in the company, valued at approximately $279,705.93. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 97,000 shares of company stock worth $5,435,530.
About Bioverativ
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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