Mutual of America Capital Management LLC Decreases Holdings in Biogen Inc. $BIIB

Mutual of America Capital Management LLC lowered its holdings in Biogen Inc. (NASDAQ:BIIB) by 1.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 16,835 shares of the biotechnology company’s stock after selling 224 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Biogen were worth $2,114,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BIIB. Vanguard Group Inc. raised its holdings in Biogen by 1.7% during the first quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock worth $2,330,774,000 after purchasing an additional 283,964 shares in the last quarter. Invesco Ltd. lifted its position in Biogen by 6.4% in the first quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company’s stock valued at $309,944,000 after acquiring an additional 136,200 shares during the last quarter. AQR Capital Management LLC boosted its stake in Biogen by 153.6% in the first quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock valued at $187,258,000 after acquiring an additional 829,150 shares in the last quarter. Amundi grew its holdings in shares of Biogen by 8.1% during the first quarter. Amundi now owns 1,315,947 shares of the biotechnology company’s stock worth $172,007,000 after purchasing an additional 98,957 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Biogen by 4.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,019,219 shares of the biotechnology company’s stock worth $139,470,000 after purchasing an additional 47,956 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

Shares of BIIB opened at $149.89 on Friday. Biogen Inc. has a 1 year low of $110.04 and a 1 year high of $187.58. The company’s 50 day simple moving average is $143.03 and its 200 day simple moving average is $132.40. The company has a market capitalization of $21.98 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.19 and a beta of 0.13. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share for the quarter, topping analysts’ consensus estimates of $3.93 by $1.54. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, sell-side analysts predict that Biogen Inc. will post 15.83 EPS for the current year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 517 shares of Biogen stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the transaction, the insider owned 5,772 shares in the company, valued at $770,850.60. This trade represents a 8.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on BIIB. Royal Bank Of Canada dropped their price target on Biogen from $219.00 to $217.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Rothschild & Co Redburn upped their target price on shares of Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, October 6th. HC Wainwright increased their target price on shares of Biogen from $187.00 to $194.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. William Blair restated an “outperform” rating on shares of Biogen in a research report on Wednesday, September 24th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Biogen in a research report on Wednesday, September 24th. Eleven equities research analysts have rated the stock with a Buy rating and twenty have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $180.69.

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.