Biogen Inc. $BIIB Stock: Kestra Advisory Services LLC Increases Position

Kestra Advisory Services LLC raised its position in Biogen Inc. (NASDAQ:BIIB) by 1,516.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 99,446 shares of the biotechnology company’s stock after acquiring an additional 93,292 shares during the period. Kestra Advisory Services LLC’s holdings in Biogen were worth $22,463,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in BIIB. BlackRock Inc. acquired a new stake in Biogen during the 2nd quarter valued at $3,453,878,000. Orbimed Advisors LLC purchased a new position in Biogen during the first quarter worth $11,293,000. Saudi Central Bank raised its holdings in shares of Biogen by 89.7% in the second quarter. Saudi Central Bank now owns 10,273 shares of the biotechnology company’s stock worth $2,220,000 after acquiring an additional 4,858 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Biogen by 9.0% in the second quarter. Tidal Investments LLC now owns 63,842 shares of the biotechnology company’s stock worth $13,794,000 after acquiring an additional 5,256 shares during the last quarter. Finally, Nippon Life Global Investors Americas Inc. acquired a new position in shares of Biogen in the second quarter worth $29,648,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Trading Up 1.8%

Shares of Biogen stock opened at $248.35 on Friday. Biogen Inc. has a fifty-two week low of $151.83 and a fifty-two week high of $258.78. The business’s fifty day moving average is $230.01 and its two-hundred day moving average is $203.04. The company has a quick ratio of 1.37, a current ratio of 1.95 and a debt-to-equity ratio of 0.39. The firm has a market cap of $36.71 billion, a PE ratio of 106.13, a P/E/G ratio of 2.82 and a beta of 0.10.

Biogen (NASDAQ:BIIB) last announced 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 business had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.63 billion. Biogen had a return on equity of 9.38% and a net margin of 3.37%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.81 earnings per share. Analysts anticipate that Biogen Inc. will post 12.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on BIIB shares. Robert W. Baird increased their price objective on Biogen from $250.00 to $290.00 and gave the company an “outperform” rating in a research note on Thursday, October 29th. Wolfe Research raised shares of Biogen from a “peer perform” rating to an “outperform” rating and set a $300.00 target price for the company in a research note on Thursday, August 13th. BMO Capital Markets restated a “market perform” rating and issued a $220.00 target price on shares of Biogen in a report on Monday, October 12th. Wedbush upped their target price on shares of Biogen from $212.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, October 29th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Biogen in a research note on Wednesday, October 28th. One 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 stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $252.34.

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.

Founded in 1978, Biogen is headquartered in Cambridge, Massachusetts, and serves patients and healthcare providers in the United States and international markets.