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Increased Earnings Estimates Seen for Biogen Idec (BIIB): Can It Move Higher?

Zacks Equity Research

Biogen Idec Inc. (BIIB) is a Biotechnology firm that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on BIIB’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Biogen Idec could be a solid choice for investors.

Current Quarter Estimates for BIIB

Though there have been no estimates revisions in the past 30 days, consensus estimates have increased from $2.84 a share 30 days ago, to $3.53 today, a move of 24.3%.

Current Year Estimates for BIIB

Meanwhile, Biogen Idec’s current year figures are also looking quite promising, with the consensus estimate trend increasing from $11.28 per share 30 days ago to $13.13 per share today, an increase of 16.4%.

Bottom Line

The stock has also started to move higher lately, adding 5.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.

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BIOGEN IDEC INC (BIIB): Free Stock Analysis Report

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