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

Mutual of America Capital Management LLC reduced its stake in Biogen Inc. (NASDAQ:BIIB) by 2.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,983 shares of the biotechnology company’s stock after selling 568 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Biogen were worth $5,560,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Plato Investment Management Ltd grew its holdings in shares of Biogen by 82.8% in the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 53 shares during the period. Livelsberger Financial Advisory purchased a new stake in shares of Biogen in the 4th quarter valued at approximately $26,000. Rise Advisors LLC acquired a new stake in shares of Biogen during the 1st quarter worth approximately $27,000. EntryPoint Capital LLC purchased a new stake in shares of Biogen during the 1st quarter valued at approximately $36,000. Finally, Versant Capital Management Inc lifted its holdings in Biogen by 123.2% in the second quarter. Versant Capital Management Inc now owns 154 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 85 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Biogen Price Performance

Shares of BIIB opened at $199.36 on Friday. The firm has a market capitalization of $29.03 billion, a price-to-earnings ratio of 24.89, a PEG ratio of 2.01 and a beta of -0.06. The firm’s fifty day simple moving average is $207.31 and its 200-day simple moving average is $215.02. Biogen Inc. has a twelve month low of $189.44 and a twelve month high of $269.43. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.00 by $1.28. The company had revenue of $2.47 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Biogen had a return on equity of 15.71% and a net margin of 11.98%. Biogen’s quarterly revenue was up .4% on a year-over-year basis. During the same period last year, the firm earned $4.02 earnings per share. Equities analysts forecast that Biogen Inc. will post 16.12 EPS for the current fiscal year.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 431 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the completion of the sale, the insider now owns 5,316 shares in the company, valued at approximately $1,085,633.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.16% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on BIIB. Royal Bank of Canada restated an “outperform” rating and issued a $292.00 target price on shares of Biogen in a research report on Thursday. Robert W. Baird decreased their target price on shares of Biogen from $316.00 to $294.00 and set an “outperform” rating on the stock in a research report on Monday, July 29th. Cantor Fitzgerald reiterated an “overweight” rating and set a $292.00 price target on shares of Biogen in a research report on Monday, September 9th. Wells Fargo & Company decreased their price objective on shares of Biogen from $240.00 to $225.00 and set an “equal weight” rating on the stock in a report on Friday, August 2nd. Finally, Wedbush dropped their target price on shares of Biogen from $215.00 to $210.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Eight equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $275.52.

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.