Bioverativ (BIVV) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Bioverativ (NASDAQ:BIVV) from a hold rating to a buy rating in a research note published on Monday. They currently have $62.00 price target on the biotechnology company’s stock.

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 research analysts have also commented on the company. Deutsche Bank set a $53.00 target price on Bioverativ and gave the stock a hold rating in a research report on Monday, November 20th. Piper Jaffray Companies reiterated an overweight rating and issued a $71.00 target price on shares of Bioverativ in a research report on Monday, October 23rd. Morgan Stanley reiterated an underweight rating and issued a $47.00 target price (up previously from $45.00) on shares of Bioverativ in a research report on Friday, October 6th. Argus upgraded Bioverativ from a hold rating to a buy rating and set a $64.00 target price for the company in a research report on Wednesday, September 20th. Finally, Royal Bank of Canada assumed coverage on Bioverativ in a research report on Thursday, September 14th. They issued a sector perform rating and a $59.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $60.47.

Bioverativ (BIVV) traded down $0.28 during mid-day trading on Monday, reaching $58.75. The company’s stock had a trading volume of 766,200 shares, compared to its average volume of 891,800. Bioverativ has a 52 week low of $40.00 and a 52 week high of $64.41. The stock has a market cap of $6,620.00 and a P/E ratio of 14.36.

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 the consensus estimate of $0.55 by $0.25. The company had revenue of $291.60 million for the quarter, compared to the consensus estimate of $285.45 million. Bioverativ had a return on equity of 69.03% and a net margin of 40.44%. Bioverativ’s quarterly revenue was up 27.2% compared to the same quarter last year. research analysts anticipate that Bioverativ will post 2.48 EPS for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. BP PLC acquired a new position in Bioverativ during the 3rd quarter valued at approximately $799,000. Whittier Trust Co. of Nevada Inc. acquired a new position in Bioverativ during the 3rd quarter valued at approximately $293,000. Catalyst Capital Advisors LLC acquired a new position in Bioverativ during the 3rd quarter valued at approximately $5,707,000. American Century Companies Inc. acquired a new position in Bioverativ during the 3rd quarter valued at approximately $48,168,000. Finally, BNP Paribas Arbitrage SA acquired a new position in Bioverativ during the 3rd quarter valued at approximately $21,728,000. Institutional investors and hedge funds own 95.99% of the company’s stock.

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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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