Bp Plc bought a new stake in shares of Bioverativ Inc (NASDAQ:BIVV) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,000 shares of the biotechnology company’s stock, valued at approximately $799,000.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. TCI Wealth Advisors Inc. bought a new position in shares of Bioverativ during the third quarter valued at approximately $186,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Bioverativ during the third quarter valued at approximately $242,000. Traynor Capital Management Inc. bought a new position in shares of Bioverativ during the third quarter valued at approximately $244,000. Reliance Trust Co. of Delaware bought a new position in shares of Bioverativ during the third quarter valued at approximately $249,000. Finally, Whittier Trust Co. of Nevada Inc. bought a new position in shares of Bioverativ during the third quarter valued at approximately $293,000. 92.93% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have weighed in on BIVV. Zacks Investment Research downgraded shares of Bioverativ from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. Piper Jaffray Companies reiterated an “overweight” rating and set a $71.00 price target on shares of Bioverativ in a report on Monday, October 23rd. Morgan Stanley reiterated 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 shares of 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, Royal Bank Of Canada began coverage on shares of Bioverativ in a report on Thursday, September 14th. They set a “sector perform” rating and a $59.00 price target on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $61.73.
In other Bioverativ news, Director Louis J. Paglia bought 2,000 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was purchased at an average cost of $59.70 per share, with a total value of $119,400.00. Following the completion of the purchase, the director now owns 5,056 shares in the company, valued at $301,843.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Brian S. Posner bought 1,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The stock was acquired at an average cost of $59.19 per share, with a total value of $59,190.00. Following the completion of the purchase, the director now owns 6,693 shares of the company’s stock, valued at approximately $396,158.67. The disclosure for this purchase can be found here.
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Shares of Bioverativ Inc (BIVV) opened at $54.01 on Friday.
Bioverativ (NASDAQ:BIVV) last posted its earnings results on Thursday, October 26th. The biotechnology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.25. Bioverativ had a return on equity of 69.03% and a net margin of 40.44%. The firm had revenue of $291.60 million during the quarter, compared to analysts’ expectations of $285.45 million. The firm’s revenue was up 27.2% on a year-over-year basis. equities research analysts expect that Bioverativ Inc will post 2.45 EPS for the current year.
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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