Biogen Inc. $BIIB Stock: Moneco Advisors LLC Raises Stake

Moneco Advisors LLC increased its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 562.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,804 shares of the biotechnology company’s stock after acquiring an additional 8,324 shares during the quarter. Moneco Advisors LLC’s holdings in Biogen were worth $2,215,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BIIB. Bell Investment Advisors Inc acquired a new stake in Biogen during the 2nd quarter valued at $27,000. Align Financial LLC boosted its position in Biogen by 339.3% during the third quarter. Align Financial LLC now owns 123 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 95 shares during the period. Provenance Wealth Advisors LLC acquired a new position in shares of Biogen in the third quarter valued at $29,000. Canton Hathaway LLC acquired a new position in shares of Biogen in the third quarter valued at $31,000. Finally, Ashurst Perkins Coie Trust Co increased its holdings in shares of Biogen by 92.2% in the third quarter. Ashurst Perkins Coie Trust Co now owns 173 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 83 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BIIB has been the topic of several research analyst reports. Canaccord Genuity Group increased their price objective on shares of Biogen from $248.00 to $272.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Mizuho lifted their target price on shares of Biogen from $221.00 to $241.00 and gave the stock an “outperform” rating in a report on Tuesday, August 4th. Bank of America lifted their target price on shares of Biogen from $219.00 to $244.00 and gave the stock a “neutral” rating in a report on Thursday, October 22nd. Citigroup reiterated a “neutral” rating on shares of Biogen in a research note on Wednesday, October 28th. Finally, Royal Bank Of Canada increased their price target on shares of Biogen from $256.00 to $272.00 and gave the company an “outperform” rating in a report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Biogen has a consensus rating of “Moderate Buy” and an average target price of $254.41.

Biogen Stock Performance

BIIB opened at $253.40 on Thursday. The business has a fifty day simple moving average of $232.21 and a 200 day simple moving average of $204.26. The company has a market capitalization of $37.46 billion, a PE ratio of 108.29, a price-to-earnings-growth ratio of 2.87 and a beta of 0.10. Biogen Inc. has a 1 year low of $158.05 and a 1 year high of $261.00. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.95 and a quick ratio of 1.37.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 28th. The biotechnology company reported $2.62 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.63. The firm had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.63 billion. Biogen had a return on equity of 9.38% and a net margin of 3.37%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.81 EPS. Research analysts expect that Biogen Inc. will post 12.46 EPS for the current year.

Biogen Profile

Biogen is a biotechnology company focused on developing and commercializing medicines for neurological and rare diseases. Its areas of focus include multiple sclerosis, Alzheimer’s disease, spinal muscular atrophy and Friedreich’s ataxia. Its products include multiple sclerosis treatments such as Tysabri, Tecfidera and Vumerity, and Skyclarys for Friedreich’s ataxia. Biogen shares rights to several medicines with other companies, including Leqembi for Alzheimer’s disease with Eisai and Spinraza for spinal muscular atrophy with Ionis Pharmaceuticals.