Peregrine Capital Management LLC Acquires New Position in Bioverativ Inc (BIVV)
Peregrine Capital Management LLC acquired a new stake in shares of Bioverativ Inc (NASDAQ:BIVV) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 309,142 shares of the biotechnology company’s stock, valued at approximately $17,643,000. Peregrine Capital Management LLC owned approximately 0.29% of Bioverativ at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Quotient Investors LLC purchased a new stake in shares of Bioverativ in the third quarter worth approximately $420,000. Mutual of America Capital Management LLC purchased a new stake in shares of Bioverativ in the third quarter worth approximately $5,062,000. Meeder Asset Management Inc. purchased a new stake in shares of Bioverativ in the third quarter worth approximately $877,000. Rockefeller Financial Services Inc. purchased a new stake in shares of Bioverativ in the third quarter worth approximately $1,480,000. Finally, State Treasurer State of Michigan purchased a new stake in shares of Bioverativ in the third quarter worth approximately $2,323,000. 92.93% of the stock is owned by institutional investors.
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Bioverativ Inc (BIVV) opened at 56.50 on Wednesday. The firm has a market cap of $6.11 billion and a P/E ratio of 13.43. Bioverativ Inc has a 12-month low of $40.00 and a 12-month high of $64.41. The company has a 50-day moving average price of $57.73 and a 200-day moving average price of $58.01.
Bioverativ (NASDAQ:BIVV) last released its earnings results on Thursday, October 26th. The biotechnology company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.25. The firm had revenue of $291.60 million during the quarter, compared to the consensus estimate of $285.45 million. The business’s revenue for the quarter was up 27.2% on a year-over-year basis. On average, analysts predict that Bioverativ Inc will post $3.00 earnings per share for the current year.
In other news, Director Brian S. Posner bought 1,000 shares of the business’s stock in a transaction on Wednesday, August 9th. The shares were purchased at an average price of $59.19 per share, for a total transaction of $59,190.00. Following the purchase, the director now owns 6,693 shares of the company’s stock, valued at approximately $396,158.67. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Louis J. Paglia bought 2,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was purchased at an average price of $59.70 per share, for a total transaction of $119,400.00. Following the purchase, the director now directly owns 5,056 shares in the company, valued at approximately $301,843.20. The disclosure for this purchase can be found here.
A number of analysts have recently issued reports on the stock. Piper Jaffray Companies reissued an “overweight” rating and issued a $71.00 price target on shares of Bioverativ in a research report on Monday, October 23rd. Zacks Investment Research raised shares of Bioverativ from a “hold” rating to a “strong-buy” rating and set a $69.00 price target for the company in a research report on Thursday, October 19th. Morgan Stanley reissued an “underweight” rating and issued a $47.00 price target (up from $45.00) on shares of Bioverativ in a research report on Friday, October 6th. Argus raised shares of Bioverativ from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Wednesday, September 20th. Finally, Royal Bank Of Canada assumed coverage on shares of Bioverativ in a research report on Thursday, September 14th. They issued a “sector perform” rating and a $59.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $61.73.
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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