Mutual of America Capital Management LLC Has $2.33 Million Holdings in Biogen Inc. (NASDAQ:BIIB)

Mutual of America Capital Management LLC reduced its position in Biogen Inc. (NASDAQ:BIIB) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,059 shares of the biotechnology company’s stock after selling 436 shares during the period. Mutual of America Capital Management LLC’s holdings in Biogen were worth $2,334,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Integrated Quantitative Investments LLC bought a new stake in shares of Biogen during the 4th quarter worth about $407,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Biogen by 6.5% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company’s stock worth $57,057,000 after acquiring an additional 25,464 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Biogen by 5.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company’s stock worth $8,405,000 after acquiring an additional 3,194 shares in the last quarter. APG Asset Management N.V. boosted its stake in shares of Biogen by 346.1% during the 4th quarter. APG Asset Management N.V. now owns 105,446 shares of the biotechnology company’s stock worth $15,572,000 after acquiring an additional 81,811 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in Biogen by 36.1% during the 4th quarter. Prudential Financial Inc. now owns 576,276 shares of the biotechnology company’s stock valued at $88,124,000 after purchasing an additional 152,992 shares during the period. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Trading Down 2.9%

NASDAQ BIIB opened at $124.99 on Friday. The stock has a 50-day simple moving average of $129.18 and a 200 day simple moving average of $133.17. The company has a market capitalization of $18.31 billion, a PE ratio of 12.34, a P/E/G ratio of 1.00 and a beta of 0.14. The company has a current ratio of 1.44, a quick ratio of 1.01 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 12 month low of $110.04 and a 12 month high of $236.48.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts’ consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 15.07% and a return on equity of 14.03%. The company had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the prior year, the company posted $3.67 EPS. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. Research analysts forecast that Biogen Inc. will post 15.83 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Canaccord Genuity Group decreased their target price on Biogen from $265.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Truist Financial decreased their target price on Biogen from $210.00 to $199.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group decreased their target price on Biogen from $219.00 to $197.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Oppenheimer set a $205.00 target price on Biogen in a research note on Friday, May 2nd. Finally, Royal Bank Of Canada set a $213.00 price objective on Biogen and gave the stock an “outperform” rating in a research report on Wednesday, June 25th. Twenty analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Biogen presently has a consensus rating of “Hold” and an average target price of $188.48.

Insider Activity at Biogen

In other news, insider Rachid Izzar sold 2,223 shares of the company’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the transaction, the insider directly owned 6,330 shares of the company’s stock, valued at $854,550. This represents a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

About Biogen

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.