MONECO Advisors LLC Buys New Shares in Biogen Inc. (NASDAQ:BIIB)

MONECO Advisors LLC bought a new stake in shares of Biogen Inc. (NASDAQ:BIIB) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,341 shares of the biotechnology company’s stock, valued at approximately $205,000.

Other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its stake in shares of Biogen by 13,574.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after buying an additional 2,648,024 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Biogen by 977.9% in the 4th quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock valued at $163,083,000 after buying an additional 967,523 shares in the last quarter. Mizuho Securities USA LLC raised its stake in shares of Biogen by 2,715.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 316,000 shares of the biotechnology company’s stock valued at $61,253,000 after buying an additional 304,778 shares in the last quarter. Erste Asset Management GmbH acquired a new position in shares of Biogen in the 3rd quarter valued at $55,826,000. Finally, State Street Corp raised its stake in shares of Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after buying an additional 248,942 shares in the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BIIB shares. BMO Capital Markets dropped their price objective on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research note on Thursday, February 13th. HC Wainwright dropped their price objective on shares of Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Morgan Stanley dropped their price objective on shares of Biogen from $192.00 to $157.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of Biogen in a research note on Thursday, February 13th. Finally, Oppenheimer lowered their target price on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Seventeen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $213.33.

Biogen Stock Performance

Biogen stock opened at $143.46 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 1 year low of $128.51 and a 1 year high of $238.00. The company has a market cap of $21.00 billion, a PE ratio of 12.82, a PEG ratio of 1.51 and a beta of -0.08. The company’s 50-day moving average is $144.83 and its two-hundred day moving average is $169.56.

Biogen (NASDAQ:BIIB) last released its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. Equities analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Biogen Company Profile

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.