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

Nisa Investment Advisors LLC reduced its position in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 23.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 153,217 shares of the biotechnology company's stock after selling 46,037 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.10% of Biogen worth $20,966,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BIIB. Signaturefd LLC increased its position in Biogen by 3.5% during the 4th quarter. Signaturefd LLC now owns 2,092 shares of the biotechnology company's stock valued at $320,000 after purchasing an additional 71 shares during the period. Israel Discount Bank of New York increased its position in Biogen by 6.2% during the 4th quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company's stock valued at $215,000 after purchasing an additional 82 shares during the period. B. Riley Wealth Advisors Inc. increased its position in Biogen by 4.1% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company's stock valued at $358,000 after purchasing an additional 92 shares during the period. Quent Capital LLC increased its position in Biogen by 31.2% during the 1st quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock valued at $54,000 after purchasing an additional 93 shares during the period. Finally, CVA Family Office LLC increased its position in Biogen by 71.1% during the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock valued at $32,000 after purchasing an additional 96 shares during the period. 87.93% of the stock is currently owned by institutional investors.

Biogen Trading Down 0.8%

Shares of NASDAQ:BIIB traded down $1.12 on Friday, hitting $134.21. 1,137,456 shares of the company's stock were exchanged, compared to its average volume of 1,448,057. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $236.48. The stock has a market capitalization of $19.67 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.07 and a beta of 0.14. The business's 50 day simple moving average is $128.17 and its two-hundred day simple moving average is $133.85. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.44 and a quick ratio of 1.01.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on BIIB shares. JPMorgan Chase & Co. reduced their target price on shares of Biogen from $185.00 to $175.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Royal Bank Of Canada set a $213.00 target price on shares of Biogen and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Robert W. Baird reduced their target price on shares of Biogen from $300.00 to $255.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group reduced their target price on shares of Biogen from $219.00 to $197.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Finally, Morgan Stanley cut their price objective on shares of Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 9th. Twenty research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Biogen has an average rating of "Hold" and an average target price of $188.48.

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.