Mutual of America Capital Management LLC Cuts Position in Biogen Inc. (NASDAQ:BIIB)

Mutual of America Capital Management LLC lessened its holdings in Biogen Inc. (NASDAQ:BIIB) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,050 shares of the biotechnology company’s stock after selling 92 shares during the period. Mutual of America Capital Management LLC’s holdings in Biogen were worth $7,000,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Raymond James Trust N.A. lifted its holdings in Biogen by 16.4% in the first quarter. Raymond James Trust N.A. now owns 3,294 shares of the biotechnology company’s stock valued at $693,000 after acquiring an additional 464 shares during the last quarter. Cibc World Market Inc. lifted its holdings in Biogen by 39.9% in the first quarter. Cibc World Market Inc. now owns 15,244 shares of the biotechnology company’s stock valued at $3,210,000 after acquiring an additional 4,349 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Biogen by 1.6% in the first quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company’s stock valued at $2,468,356,000 after acquiring an additional 183,285 shares during the last quarter. Baird Financial Group Inc. lifted its holdings in Biogen by 15.3% in the first quarter. Baird Financial Group Inc. now owns 89,722 shares of the biotechnology company’s stock valued at $18,896,000 after acquiring an additional 11,882 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in Biogen by 10.7% during the first quarter. Brown Brothers Harriman & Co. now owns 5,938 shares of the biotechnology company’s stock worth $1,251,000 after purchasing an additional 573 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Insiders Place Their Bets

In other news, Director Eric K. Rowinsky acquired 455 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the completion of the acquisition, the director now owns 20,629 shares in the company, valued at approximately $4,590,777.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Biogen news, Director Eric K. Rowinsky bought 455 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $222.54 per share, for a total transaction of $101,255.70. Following the completion of the purchase, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, insider Priya Singhal sold 262 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total transaction of $57,962.26. Following the sale, the insider now owns 4,886 shares of the company’s stock, valued at approximately $1,080,929.78. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 882 shares of company stock valued at $202,030. 0.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

BIIB has been the topic of a number of research reports. Needham & Company LLC decreased their price target on Biogen from $305.00 to $300.00 and set a “buy” rating on the stock in a research note on Tuesday, February 13th. JPMorgan Chase & Co. decreased their price target on Biogen from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday. Royal Bank of Canada restated an “outperform” rating and set a $364.00 price target on shares of Biogen in a research note on Tuesday, March 5th. Truist Financial restated a “buy” rating and set a $340.00 price target on shares of Biogen in a research note on Monday, March 25th. Finally, Mizuho decreased their price target on Biogen from $355.00 to $277.00 and set a “buy” rating on the stock in a research note on Thursday, February 22nd. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $298.96.

Biogen Stock Performance

Shares of BIIB stock opened at $198.18 on Friday. The stock’s 50-day moving average is $220.04 and its two-hundred day moving average is $238.02. The firm has a market cap of $28.81 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.70 and a beta of -0.02. Biogen Inc. has a 1 year low of $197.78 and a 1 year high of $319.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.26 and a current ratio of 2.00.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.18 by ($0.23). The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same period in the previous year, the business posted $4.05 EPS. Analysts predict that Biogen Inc. will post 15.45 earnings per share for the current year.

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.