Nisa Investment Advisors LLC Reduces Position in Biogen Inc. (NASDAQ:BIIB)

Nisa Investment Advisors LLC trimmed its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 23.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 153,217 shares of the biotechnology company's stock after selling 46,037 shares during the quarter. Nisa Investment Advisors LLC owned 0.10% of Biogen worth $20,966,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BIIB. Larson Financial Group LLC lifted its holdings in Biogen by 640.9% during the fourth quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company's stock worth $25,000 after buying an additional 141 shares during the period. Lee Danner & Bass Inc. bought a new stake in Biogen during the fourth quarter valued at about $25,000. Opal Wealth Advisors LLC bought a new stake in Biogen during the first quarter valued at about $26,000. Colonial Trust Co SC grew its stake in Biogen by 9,300.0% in the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 186 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in Biogen by 74.8% in the first quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 98 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of recent analyst reports. Mizuho lowered their price target on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group lowered their target price on shares of Biogen from $219.00 to $197.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley reduced their price target on Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Robert W. Baird decreased their price objective on Biogen from $300.00 to $255.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Finally, Needham & Company LLC restated a "hold" rating on shares of Biogen in a research note on Thursday, June 12th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $188.48.

Biogen Price Performance

Biogen stock traded down $1.12 during trading on Friday, reaching $134.21. The company had a trading volume of 1,137,456 shares, compared to its average volume of 1,448,157. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.01 and a current ratio of 1.44. The firm's 50-day simple moving average is $128.17 and its 200 day simple moving average is $134.07. The firm has a market capitalization of $19.67 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.08 and a beta of 0.14. Biogen Inc. has a 1-year low of $110.04 and a 1-year high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The firm had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the previous year, the business posted $3.67 EPS. The company's revenue for the quarter was up 6.2% on a year-over-year basis. As a group, equities research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

About Biogen

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.