Jennison Associates LLC Invests $56.42 Million in Bioverativ Inc (BIVV)

Jennison Associates LLC bought a new position in shares of Bioverativ Inc (NASDAQ:BIVV) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 988,614 shares of the biotechnology company’s stock, valued at approximately $56,420,000. Jennison Associates LLC owned 0.91% of Bioverativ at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Whittier Trust Co. of Nevada Inc. acquired a new position in Bioverativ in the 3rd quarter valued at $293,000. Rockefeller Financial Services Inc. acquired a new position in Bioverativ in the 3rd quarter valued at $1,480,000. Quotient Investors LLC acquired a new position in Bioverativ in the 3rd quarter valued at $420,000. Oakbrook Investments LLC acquired a new position in Bioverativ in the 3rd quarter valued at $327,000. Finally, Meeder Asset Management Inc. acquired a new position in Bioverativ in the 3rd quarter valued at $877,000. 95.16% of the stock is owned by institutional investors and hedge funds.

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BIVV has been the subject of several recent research reports. Zacks Investment Research raised Bioverativ from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective for the company in a research note on Tuesday, July 25th. Royal Bank Of Canada initiated coverage on Bioverativ in a research note on Thursday, September 14th. They issued a “sector perform” rating and a $59.00 price objective for the company. Piper Jaffray Companies reissued an “overweight” rating and issued a $71.00 price objective on shares of Bioverativ in a research note on Monday, October 23rd. Evercore ISI initiated coverage on Bioverativ in a research note on Wednesday, August 16th. They issued an “in-line” rating and a $58.00 price objective for the company. Finally, Morgan Stanley reissued an “underweight” rating and issued a $47.00 price objective (up from $45.00) on shares of Bioverativ in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $61.73.

Bioverativ Inc (BIVV) opened at $53.91 on Tuesday. Bioverativ Inc has a twelve month low of $40.00 and a twelve month high of $64.41.

Bioverativ (NASDAQ:BIVV) last released its quarterly earnings results on Thursday, October 26th. The biotechnology company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.25. The business had revenue of $291.60 million during the quarter, compared to analysts’ expectations of $285.45 million. Bioverativ had a return on equity of 69.03% and a net margin of 40.44%. The firm’s quarterly revenue was up 27.2% on a year-over-year basis. analysts anticipate that Bioverativ Inc will post 2.45 EPS for the current year.

Bioverativ Profile

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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Institutional Ownership by Quarter for Bioverativ (NASDAQ:BIVV)

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