MONECO Advisors LLC Purchases Shares of 1,341 Biogen Inc. (NASDAQ:BIIB)

MONECO Advisors LLC purchased a new stake in Biogen Inc. (NASDAQ:BIIB) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 1,341 shares of the biotechnology company’s stock, valued at approximately $205,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Grandfield & Dodd LLC lifted its stake in Biogen by 5.2% in the third quarter. Grandfield & Dodd LLC now owns 1,261 shares of the biotechnology company’s stock valued at $244,000 after buying an additional 62 shares in the last quarter. Quintet Private Bank Europe S.A. lifted its position in shares of Biogen by 9.7% in the third quarter. Quintet Private Bank Europe S.A. now owns 710 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 63 shares in the last quarter. Quent Capital LLC lifted its position in shares of Biogen by 31.9% in the fourth quarter. Quent Capital LLC now owns 298 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 72 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of Biogen by 25.0% in the third quarter. TD Private Client Wealth LLC now owns 385 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 77 shares in the last quarter. Finally, Principal Securities Inc. lifted its position in shares of Biogen by 30.1% in the fourth quarter. Principal Securities Inc. now owns 337 shares of the biotechnology company’s stock worth $52,000 after purchasing an additional 78 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on BIIB. Scotiabank cut their price objective on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 13th. Canaccord Genuity Group cut their price objective on shares of Biogen from $298.00 to $265.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Bank Of America (Bofa) cut their price objective on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $175.00 price objective on the stock. in a research report on Monday, December 16th. Finally, Wolfe Research started coverage on shares of Biogen in a research report on Friday, November 15th. They issued a “peer perform” rating on the stock. Seventeen equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $213.33.

Biogen Price Performance

NASDAQ:BIIB opened at $143.46 on Wednesday. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The company has a market cap of $21.00 billion, a P/E ratio of 12.82, a P/E/G ratio of 1.51 and a beta of -0.08. The firm’s fifty day moving average price is $144.83 and its two-hundred day moving average price is $169.56. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last announced 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 expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Biogen 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.