Zacks Investment Research Lowers Bioverativ Inc (BIVV) to Hold

Bioverativ Inc (NASDAQ:BIVV) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” 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. “

A number of other research firms have also recently issued reports on BIVV. Jefferies Group LLC reiterated a “buy” rating and issued a $70.00 price objective (up from $67.00) on shares of Bioverativ in a report on Wednesday, August 9th. Argus upgraded Bioverativ from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Wednesday, September 20th. Cowen and Company reiterated a “buy” rating and issued a $80.00 price objective on shares of Bioverativ in a report on Friday, August 4th. Evercore ISI started coverage on Bioverativ in a report on Wednesday, August 16th. They issued an “in-line” rating and a $58.00 price objective for the company. Finally, Royal Bank Of Canada started coverage on Bioverativ in a report on Thursday, September 14th. They issued a “sector perform” rating and a $59.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Bioverativ presently has an average rating of “Hold” and an average target price of $61.73.

Bioverativ (NASDAQ:BIVV) last posted its quarterly earnings data on Thursday, October 26th. The biotechnology company reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.25. The firm had revenue of $291.60 million during the quarter, compared to analysts’ expectations of $285.45 million. The company’s quarterly revenue was up 27.2% on a year-over-year basis.

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In related news, Director Brian S. Posner bought 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 9th. The stock was bought at an average cost of $59.19 per share, for a total transaction of $59,190.00. Following the acquisition, the director now directly owns 6,693 shares of the company’s stock, valued at approximately $396,158.67. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Louis J. Paglia bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were bought at an average price of $59.70 per share, with a total value of $119,400.00. Following the completion of the acquisition, the director now directly owns 5,056 shares in the company, valued at $301,843.20. The disclosure for this purchase can be found here.

A number of hedge funds have recently modified their holdings of BIVV. Quotient Investors LLC purchased a new stake in Bioverativ during the 3rd quarter valued at about $420,000. Mutual of America Capital Management LLC purchased a new stake in Bioverativ during the 3rd quarter valued at about $5,062,000. Meeder Asset Management Inc. purchased a new stake in Bioverativ during the 3rd quarter valued at about $877,000. Rockefeller Financial Services Inc. purchased a new stake in Bioverativ during the 3rd quarter valued at about $1,480,000. Finally, State Treasurer State of Michigan purchased a new stake in Bioverativ during the 3rd quarter valued at about $2,323,000. Institutional investors own 92.93% of the company’s stock.

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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