Biogen Inc. (BIIB) Position Cut by Nisa Investment Advisors LLC
Nisa Investment Advisors LLC reduced its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 1.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,848 shares of the biotechnology company’s stock after selling 1,220 shares during the period. Nisa Investment Advisors LLC’s holdings in Biogen were worth $18,342,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Primecap Management Co. CA raised its stake in shares of Biogen by 2.8% in the first quarter. Primecap Management Co. CA now owns 16,246,726 shares of the biotechnology company’s stock valued at $4,229,348,000 after buying an additional 436,101 shares in the last quarter. Jackson Square Partners LLC raised its stake in shares of Biogen by 10.7% in the first quarter. Jackson Square Partners LLC now owns 2,809,422 shares of the biotechnology company’s stock valued at $806,152,000 after buying an additional 271,970 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Biogen during the first quarter valued at approximately $49,410,000. UBS Asset Management Americas Inc. raised its stake in shares of Biogen by 17.4% in the first quarter. UBS Asset Management Americas Inc. now owns 1,124,950 shares of the biotechnology company’s stock valued at $292,847,000 after buying an additional 166,534 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Biogen by 66.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 374,324 shares of the biotechnology company’s stock valued at $97,444,000 after buying an additional 149,200 shares in the last quarter. 86.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of Biogen Inc. (NASDAQ:BIIB) traded up 2.37% on Friday, reaching $313.03. The company had a trading volume of 2,124,784 shares. Biogen Inc. has a 12 month low of $223.02 and a 12 month high of $333.65. The stock has a 50-day moving average price of $309.17 and a 200-day moving average price of $277.62. The stock has a market cap of $68.59 billion, a PE ratio of 18.29 and a beta of 0.90.
Biogen (NASDAQ:BIIB) last announced its earnings results on Thursday, July 21st. The biotechnology company reported $5.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.69 by $0.52. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.79 billion. Biogen had a return on equity of 40.59% and a net margin of 33.97%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $4.22 EPS. Analysts predict that Biogen Inc. will post $20.10 earnings per share for the current fiscal year.
Several analysts recently commented on BIIB shares. Morgan Stanley reaffirmed a “buy” rating on shares of Biogen in a research note on Thursday, June 30th. Sanford C. Bernstein began coverage on Biogen in a research note on Wednesday, June 29th. They issued an “outperform” rating and a $282.00 price target on the stock. Vetr raised Biogen from a “buy” rating to a “strong-buy” rating and set a $346.47 price objective on the stock in a research note on Monday, September 12th. Citigroup Inc. lowered Biogen from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $345.00 to $295.00 in a research note on Tuesday, June 7th. Finally, Piper Jaffray Cos. reissued a “neutral” rating and issued a $333.00 price objective (up previously from $293.00) on shares of Biogen in a research note on Tuesday, August 16th. Ten investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. Biogen currently has a consensus rating of “Buy” and an average price target of $347.39.
In other news, Director Caroline Dorsa sold 27,570 shares of Biogen stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $314.00, for a total value of $8,656,980.00. Following the completion of the transaction, the director now directly owns 19,663 shares of the company’s stock, valued at approximately $6,174,182. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO George A. Scangos sold 157 shares of Biogen stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $280.00, for a total value of $43,960.00. Following the completion of the transaction, the chief executive officer now directly owns 54,779 shares of the company’s stock, valued at $15,338,120. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.
Biogen Company Profile
Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.
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