Nisa Investment Advisors LLC Has $6.39 Million Holdings in Biogen Inc. $BIIB

Nisa Investment Advisors LLC trimmed its position in Biogen Inc. (NASDAQ:BIIB) by 66.8% during the second quarter, HoldingsChannel.com reports. The firm owned 50,902 shares of the biotechnology company’s stock after selling 102,315 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Biogen were worth $6,393,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in Biogen by 367.8% during the first quarter. GAMMA Investing LLC now owns 1,862 shares of the biotechnology company’s stock worth $255,000 after purchasing an additional 1,464 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Biogen by 11.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 3,828 shares of the biotechnology company’s stock worth $524,000 after buying an additional 389 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Biogen by 31.6% in the first quarter. Bessemer Group Inc. now owns 3,037 shares of the biotechnology company’s stock valued at $415,000 after acquiring an additional 729 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Biogen by 117.7% during the first quarter. Golden State Wealth Management LLC now owns 577 shares of the biotechnology company’s stock worth $79,000 after acquiring an additional 312 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Biogen by 15.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 55,084 shares of the biotechnology company’s stock valued at $7,622,000 after purchasing an additional 7,531 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company’s stock.

Insider Transactions at Biogen

In other Biogen news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the transaction, the insider directly owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. The trade was a 8.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.18% of the company’s stock.

Biogen Stock Performance

NASDAQ BIIB opened at $149.13 on Wednesday. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $187.28. The firm has a market capitalization of $21.87 billion, a price-to-earnings ratio of 14.26, a P/E/G ratio of 1.19 and a beta of 0.13. The company has a current ratio of 2.50, a quick ratio of 1.79 and a debt-to-equity ratio of 0.36. The firm’s 50 day simple moving average is $143.53 and its 200 day simple moving average is $132.94.

Biogen (NASDAQ:BIIB) last issued its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping the consensus estimate of $3.93 by $1.54. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, research analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on BIIB shares. Wall Street Zen upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 28th. Jefferies Financial Group assumed coverage on shares of Biogen in a research report on Thursday, September 25th. They issued a “buy” rating and a $190.00 price objective for the company. Rothschild & Co Redburn upped their target price on shares of Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, October 6th. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Wednesday, September 24th. Finally, Morgan Stanley lifted their target price on shares of Biogen from $144.00 to $149.00 and gave the stock an “equal weight” rating in a report on Friday, October 10th. Eleven equities research analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $180.69.

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.