Nisa Investment Advisors LLC Buys 149,461 Shares of Biogen Inc. (NASDAQ:BIIB)

Nisa Investment Advisors LLC grew its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 300.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 199,254 shares of the biotechnology company’s stock after acquiring an additional 149,461 shares during the quarter. Nisa Investment Advisors LLC owned about 0.14% of Biogen worth $30,470,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of BIIB. Ballentine Partners LLC raised its holdings in Biogen by 59.6% in the fourth quarter. Ballentine Partners LLC now owns 2,440 shares of the biotechnology company’s stock worth $373,000 after buying an additional 911 shares during the last quarter. HB Wealth Management LLC lifted its position in Biogen by 15.5% in the 4th quarter. HB Wealth Management LLC now owns 1,589 shares of the biotechnology company’s stock valued at $243,000 after acquiring an additional 213 shares in the last quarter. Premier Path Wealth Partners LLC boosted its stake in Biogen by 25.8% during the 4th quarter. Premier Path Wealth Partners LLC now owns 7,556 shares of the biotechnology company’s stock valued at $1,155,000 after purchasing an additional 1,548 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of Biogen by 501.9% in the 4th quarter. Brooklyn Investment Group now owns 620 shares of the biotechnology company’s stock worth $95,000 after purchasing an additional 517 shares in the last quarter. Finally, Sax Wealth Advisors LLC purchased a new position in shares of Biogen in the fourth quarter worth $337,000. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of NASDAQ:BIIB opened at $142.75 on Thursday. The firm has a market cap of $20.80 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 1.61 and a beta of -0.07. The firm has a fifty day moving average price of $153.09 and a 200 day moving average price of $183.08. Biogen Inc. has a fifty-two week low of $139.71 and a fifty-two week high of $251.99. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last year, the business posted $4.36 earnings per share. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Biogen Inc. will post 16.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently commented on BIIB shares. Robert W. Baird increased their price objective on Biogen from $294.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Morgan Stanley lowered shares of Biogen from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $285.00 to $204.00 in a research note on Thursday, October 31st. Royal Bank of Canada decreased their price objective on shares of Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. Bank of America restated a “neutral” rating and issued a $178.00 target price on shares of Biogen in a report on Tuesday, December 10th. Finally, Needham & Company LLC lowered shares of Biogen from a “buy” rating to a “hold” rating and set a $270.00 target price for the company. in a research note on Monday, November 18th. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Biogen currently has a consensus rating of “Hold” and an average target price of $230.00.

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.