Short Interest in Bioverativ Inc (BIVV) Expands By 26.3%

Bioverativ Inc (NASDAQ:BIVV) was the target of a large growth in short interest during the month of July. As of July 14th, there was short interest totalling 5,098,453 shares, a growth of 26.3% from the June 30th total of 4,037,375 shares. Based on an average trading volume of 1,389,912 shares, the days-to-cover ratio is presently 3.7 days. Approximately 4.8% of the shares of the company are short sold.

In related news, insider Diantha Duvall sold 818 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The stock was sold at an average price of $60.47, for a total transaction of $49,464.46. Following the transaction, the insider now directly owns 2,128 shares of the company’s stock, valued at approximately $128,680.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Alexander J. Denner acquired 90,000 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was purchased at an average cost 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 $279,705.93. The disclosure for this purchase can be found here. Insiders have purchased a total of 97,000 shares of company stock worth $5,435,530 over the last three months.

BIVV has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Bioverativ from a “hold” rating to a “strong-buy” rating and set a $73.00 target price for the company in a research report on Tuesday, July 25th. Evercore ISI assumed coverage on Bioverativ in a research report on Wednesday. They set an “in-line” rating and a $58.00 price objective for the company. Cowen and Company upgraded Bioverativ from a “market perform” rating to an “outperform” rating in a research report on Monday, July 10th. Jefferies Group LLC restated a “buy” rating on shares of Bioverativ in a research report on Friday, June 30th. Finally, Deutsche Bank AG began coverage on Bioverativ in a research report on Friday, June 23rd. They set a “hold” rating and a $65.00 price objective for the company. One research analyst has rated the stock with a sell rating, nine have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Bioverativ presently has an average rating of “Hold” and a consensus price target of $60.43.

Bioverativ (BIVV) opened at 55.05 on Friday. Bioverativ has a 12-month low of $40.00 and a 12-month high of $64.41. The company has a market cap of $5.96 billion and a price-to-earnings ratio of 13.09. The stock has a 50 day moving average price of $60.48 and a 200-day moving average price of $55.53.

Bioverativ (NASDAQ:BIVV) last posted its earnings results on Wednesday, August 2nd. The biotechnology company reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.17. The company had revenue of $289.10 million during the quarter, compared to analysts’ expectations of $269 million. During the same period last year, the business earned $0.59 earnings per share. The company’s quarterly revenue was up 37.5% on a year-over-year basis. On average, analysts predict that Bioverativ will post $2.92 EPS for the current fiscal year.

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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.

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