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

Nisa Investment Advisors LLC lifted its holdings in Biogen Inc. (NASDAQ:BIIB) by 300.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 199,254 shares of the biotechnology company’s stock after acquiring an additional 149,461 shares during the period. Nisa Investment Advisors LLC’s holdings in Biogen were worth $30,470,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BIIB. Inspire Trust Co. N.A. raised its stake in shares of Biogen by 58.5% in the third quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after acquiring an additional 4,025 shares during the period. Assenagon Asset Management S.A. raised its position in Biogen by 0.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock worth $6,646,000 after purchasing an additional 111 shares during the period. Centre Asset Management LLC lifted its stake in Biogen by 7.7% in the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after purchasing an additional 3,698 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Biogen by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock valued at $176,982,000 after buying an additional 12,319 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Biogen by 3.2% during the third quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after buying an additional 5,270 shares during the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of recent analyst reports. William Blair restated an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Robert W. Baird upped their price target on shares of Biogen from $294.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Oppenheimer decreased their price objective on shares of Biogen from $270.00 to $255.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. BMO Capital Markets cut shares of Biogen from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $230.00 to $164.00 in a research report on Friday, December 20th. Finally, Citigroup began coverage on shares of Biogen in a research report on Thursday, November 14th. They set a “neutral” rating and a $190.00 target price on the stock. Sixteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $230.00.

Biogen Stock Performance

Shares of BIIB opened at $142.75 on Thursday. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The firm has a market cap of $20.80 billion, a PE ratio of 12.90, a P/E/G ratio of 1.61 and a beta of -0.07. Biogen Inc. has a 12 month low of $139.71 and a 12 month high of $251.99. The stock has a fifty day moving average price of $153.09 and a 200-day moving average price of $183.08.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share for the quarter, topping the consensus estimate of $3.77 by $0.31. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter last year, the company earned $4.36 earnings per share. The company’s quarterly revenue was down 2.5% on a year-over-year basis. Equities research analysts predict that Biogen Inc. will post 16.41 earnings per share for the current fiscal year.

Biogen Company 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.