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

Nissay Asset Management Corp Japan ADV boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 43,879 shares of the biotechnology company’s stock after buying an additional 1,379 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Biogen were worth $6,639,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of BIIB. Larson Financial Group LLC lifted its stake in shares of Biogen by 640.9% during the 4th quarter. Larson Financial Group LLC now owns 163 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 141 shares during the last quarter. Lee Danner & Bass Inc. bought a new position in Biogen in the fourth quarter worth about $25,000. Colonial Trust Co SC lifted its position in shares of Biogen by 9,300.0% during the fourth quarter. Colonial Trust Co SC now owns 188 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 186 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Biogen during the fourth quarter valued at about $32,000. Finally, SRS Capital Advisors Inc. bought a new stake in shares of Biogen in the 4th quarter valued at about $33,000. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of Biogen stock opened at $123.70 on Friday. The firm has a market cap of $18.13 billion, a PE ratio of 11.05, a P/E/G ratio of 1.51 and a beta of 0.12. The business has a 50-day moving average price of $126.32 and a 200 day moving average price of $142.98. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00.

Biogen (NASDAQ:BIIB) last announced 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). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period in the previous year, the company earned $3.67 earnings per share. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. Sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Biogen

In other news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now owns 11,318 shares of the company’s stock, valued at $1,697,926.36. The trade was a 43.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.16% of the company’s stock.

Wall Street Analyst Weigh In

BIIB has been the subject of several recent analyst reports. Argus lowered shares of Biogen from a “buy” rating to a “hold” rating in a research note on Friday, April 4th. Oppenheimer set a $205.00 price objective on Biogen in a report on Friday, May 2nd. Royal Bank of Canada dropped their target price on Biogen from $217.00 to $205.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. JPMorgan Chase & Co. decreased their price target on Biogen from $185.00 to $175.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Finally, Scotiabank dropped their price target on Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th. Twenty analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $191.30.

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.