Mutual of America Capital Management LLC Decreases Holdings in Biogen Inc. (NASDAQ:BIIB)

Mutual of America Capital Management LLC trimmed its position in shares of Biogen Inc. (NASDAQ:BIIBFree Report) by 9.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,551 shares of the biotechnology company’s stock after selling 2,499 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Biogen were worth $5,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of BIIB. Vanguard Group Inc. raised its position in Biogen by 18.2% in the fourth quarter. Vanguard Group Inc. now owns 14,407,330 shares of the biotechnology company’s stock worth $3,728,185,000 after acquiring an additional 2,218,744 shares during the period. Norges Bank purchased a new position in Biogen during the fourth quarter valued at $378,728,000. FIL Ltd grew its holdings in Biogen by 936.4% during the fourth quarter. FIL Ltd now owns 656,502 shares of the biotechnology company’s stock valued at $169,883,000 after purchasing an additional 593,158 shares during the period. First Trust Advisors LP increased its position in Biogen by 141.0% in the fourth quarter. First Trust Advisors LP now owns 977,308 shares of the biotechnology company’s stock worth $252,898,000 after buying an additional 571,795 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Biogen by 24,726.3% in the fourth quarter. International Assets Investment Management LLC now owns 476,913 shares of the biotechnology company’s stock worth $123,411,000 after buying an additional 474,992 shares during the period. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on BIIB shares. Wedbush boosted their price objective on Biogen from $213.00 to $215.00 and gave the company a “neutral” rating in a research note on Thursday, April 25th. HSBC raised their price objective on shares of Biogen from $339.00 to $342.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. JPMorgan Chase & Co. dropped their target price on shares of Biogen from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Thursday, April 11th. HC Wainwright reissued a “buy” rating and set a $300.00 price target on shares of Biogen in a report on Thursday, May 23rd. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $270.00 price objective on shares of Biogen in a research note on Monday, April 29th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $286.50.

View Our Latest Stock Report on BIIB

Biogen Price Performance

NASDAQ:BIIB opened at $229.06 on Wednesday. The firm has a market capitalization of $33.35 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 2.30 and a beta of -0.04. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.10 and a quick ratio of 1.32. The business has a 50 day simple moving average of $225.45 and a 200-day simple moving average of $227.14. Biogen Inc. has a 1 year low of $189.44 and a 1 year high of $282.74.

Biogen (NASDAQ:BIIBGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The biotechnology company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.45 by $0.22. Biogen had a return on equity of 14.83% and a net margin of 12.07%. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same quarter in the prior year, the firm posted $3.40 EPS. Biogen’s quarterly revenue was down 7.0% compared to the same quarter last year. Equities analysts forecast that Biogen Inc. will post 15.63 EPS for the current year.

Biogen Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

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