Nissay Asset Management Corp Japan ADV Boosts Position in Biogen Inc. (NASDAQ:BIIB)

Nissay Asset Management Corp Japan ADV lifted its position in Biogen Inc. (NASDAQ:BIIB) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,879 shares of the biotechnology company’s stock after purchasing an additional 1,379 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Biogen were worth $6,639,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC grew its stake in shares of Biogen by 640.9% in the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 141 shares during the period. Lee Danner & Bass Inc. purchased a new position in Biogen in the fourth quarter worth approximately $25,000. Colonial Trust Co SC increased its stake in Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 186 shares during the last quarter. OFI Invest Asset Management purchased a new stake in Biogen in the fourth quarter valued at $32,000. Finally, SRS Capital Advisors Inc. acquired a new position in shares of Biogen in the 4th quarter valued at $33,000. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $150.02, for a total value of $1,314,175.20. Following the completion of the transaction, the director now owns 11,318 shares in the company, valued at approximately $1,697,926.36. This represents a 43.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.16% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on BIIB. HC Wainwright reduced their price objective on shares of Biogen from $241.00 to $187.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. BMO Capital Markets lowered their price objective on shares of Biogen from $156.00 to $139.00 and set a “market perform” rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. cut their target price on Biogen from $185.00 to $175.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Argus lowered Biogen from a “buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Sanford C. Bernstein began coverage on Biogen in a research note on Tuesday, February 11th. They issued a “market perform” rating and a $160.00 price objective for the company. Twenty analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $191.30.

Biogen Stock Up 2.8%

Shares of NASDAQ BIIB opened at $123.70 on Friday. The business has a 50-day moving average of $126.32 and a two-hundred day moving average of $142.98. The company has a market capitalization of $18.13 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 1.51 and a beta of 0.12. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $238.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90.

Biogen (NASDAQ:BIIB) last issued its earnings results 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 business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Biogen’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the business posted $3.67 EPS. On average, analysts forecast that Biogen Inc. will post 15.83 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.