Zacks Investment Research lowered shares of Bioverativ Inc (NASDAQ:BIVV) from a strong-buy rating to a hold rating in a research 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. “

Other equities analysts have also issued reports about the stock. Jefferies Group LLC reaffirmed a buy rating and set a $70.00 price target (up from $67.00) on shares of Bioverativ in a research report on Wednesday, August 9th. Argus raised shares of Bioverativ from a hold rating to a buy rating and set a $64.00 price target on the stock in a research report on Wednesday, September 20th. Cowen and Company reaffirmed a buy rating and set a $80.00 price target on shares of Bioverativ in a research report on Friday, August 4th. Evercore ISI initiated coverage on shares of Bioverativ in a research report on Wednesday, August 16th. They set an in-line rating and a $58.00 price target on the stock. Finally, Royal Bank Of Canada initiated coverage on shares of Bioverativ in a research report on Thursday, September 14th. They set a sector perform rating and a $59.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $61.73.

Shares of Bioverativ (BIVV) opened at $54.01 on Wednesday.

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, topping analysts’ consensus estimates of $0.55 by $0.25. The company had revenue of $291.60 million during the quarter, compared to analysts’ expectations of $285.45 million. Bioverativ had a net margin of 40.44% and a return on equity of 69.03%. The business’s quarterly revenue was up 27.2% on a year-over-year basis. research analysts forecast that Bioverativ will post 2.45 earnings per share for the current year.

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In other news, Director Louis J. Paglia bought 2,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were purchased at an average cost of $59.70 per share, with a total value of $119,400.00. Following the acquisition, the director now directly owns 5,056 shares in the company, valued at $301,843.20. The purchase was disclosed in a filing with the SEC, which is available through 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 purchased at an average cost of $59.19 per share, for a total transaction of $59,190.00. Following the completion of the acquisition, the director now owns 6,693 shares in the company, valued at $396,158.67. The disclosure for this purchase can be found here.

Hedge funds have recently added to or reduced their stakes in the business. TCI Wealth Advisors Inc. bought a new position in Bioverativ in the 3rd quarter valued at about $186,000. Canada Pension Plan Investment Board bought a new position in Bioverativ in the 3rd quarter valued at about $194,000. Essex Investment Management Co. LLC bought a new position in Bioverativ in the 3rd quarter valued at about $238,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Bioverativ in the 3rd quarter valued at about $242,000. Finally, Traynor Capital Management Inc. bought a new position in Bioverativ in the 3rd quarter valued at about $244,000. 92.93% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Bioverativ (NASDAQ:BIVV)

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