Bioverativ (BIVV) Price Target Raised to $68.00

Bioverativ (NASDAQ:BIVV) had its price objective increased by stock analysts at Royal Bank of Canada to $68.00 in a note issued to investors on Thursday. The firm presently has a “market perform” rating on the biotechnology company’s stock. Royal Bank of Canada’s price target points to a potential upside of 9.11% from the stock’s previous close.

Several other research analysts also recently issued reports on the stock. Credit Suisse Group reiterated a “neutral” rating and set a $65.00 price target on shares of Bioverativ in a research report on Thursday. Jefferies Group upped their price target on shares of Bioverativ to $79.00 and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Bioverativ from a “hold” rating to a “buy” rating and set a $62.00 price target on the stock in a research report on Monday, January 8th. Deutsche Bank set a $53.00 price target on shares of Bioverativ and gave the stock a “hold” rating in a research report on Monday, November 20th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $71.00 price target on shares of Bioverativ in a research report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $62.53.

Shares of Bioverativ (NASDAQ BIVV) traded down $1.55 during trading hours on Thursday, hitting $62.32. 939,200 shares of the stock traded hands, compared to its average volume of 1,032,973. Bioverativ has a 52 week low of $40.99 and a 52 week high of $65.09.

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

A number of large investors have recently made changes to their positions in the business. Quotient Investors LLC bought a new stake in shares of Bioverativ in the 3rd quarter valued at about $420,000. Mutual of America Capital Management LLC bought a new stake in shares of Bioverativ in the 3rd quarter valued at about $5,062,000. Meeder Asset Management Inc. bought a new stake in shares of Bioverativ in the 3rd quarter valued at about $877,000. Rockefeller Financial Services Inc. bought a new stake in shares of Bioverativ in the 3rd quarter valued at about $1,480,000. Finally, State Treasurer State of Michigan bought a new stake in shares of Bioverativ in the 3rd quarter valued at about $2,323,000. 96.03% of the stock is owned by hedge funds and other institutional investors.

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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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