Goldman Sachs Starts Bioverativ Inc (BIVVV) at Buy

Goldman Sachs initiates coverage on Bioverativ Inc (NASDAQ: BIVVV) with a Buy rating and a price target of $55.00.

Analyst Dr. Terence Flynn comments "We initiate coverage of Bioverativ (BIVV.WI) with a Buy rating and 12-month target price of $55 (26% upside). Previously Biogen’s hemophilia franchise, BIVV is a new, profitable, mid-cap biotech spin with a focus on blood disorders. The company has two marketed hemophilia drugs (Eloctate and Alprolix) and we model 2017 revenues of $1.06bn (19% yoy growth) as well as an early stage pipeline. We also project that BIVV will grow faster than its biotech peer group, and it trades at a discount (P/E and EV/revenue). We model 2017 operating margin of 44%, expanding to 47% in 2020."

For an analyst ratings summary and ratings history on Bioverativ Inc click here. For more ratings news on Bioverativ Inc click here.

Shares of Bioverativ Inc closed at $43.73 yesterday.

You May Also Be Interested In

• Loop Capital Starts Instacart (CART) at Buy, 'Leading a Massive and Underpenetrated Category'
• Yageo Corp. (2327:TT) (YAGOY) PT Lowered to NT$656 at HSBC
• B.Riley Resumes PubMatic Inc (PUBM) at Buy