Mutual of America Capital Management LLC Sells 3,174 Shares of Biogen Inc. (NASDAQ:BIIB)

Mutual of America Capital Management LLC decreased its position in shares of Biogen Inc. (NASDAQ:BIIB) by 13.2% in the 3rd quarter, HoldingsChannel reports. The fund owned 20,809 shares of the biotechnology company’s stock after selling 3,174 shares during the period. Mutual of America Capital Management LLC’s holdings in Biogen were worth $4,034,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Edgestream Partners L.P. bought a new stake in Biogen during the first quarter worth $356,000. O Shaughnessy Asset Management LLC grew its holdings in Biogen by 5.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 3,940 shares of the biotechnology company’s stock worth $849,000 after buying an additional 188 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Biogen during the first quarter worth $36,000. Advisors Asset Management Inc. grew its holdings in Biogen by 6.5% during the first quarter. Advisors Asset Management Inc. now owns 7,441 shares of the biotechnology company’s stock worth $1,605,000 after buying an additional 451 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in Biogen by 3.7% during the first quarter. Toronto Dominion Bank now owns 95,684 shares of the biotechnology company’s stock worth $20,632,000 after buying an additional 3,444 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIIB has been the subject of several recent research reports. Mizuho decreased their price target on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a report on Thursday. Royal Bank of Canada decreased their price target on Biogen from $292.00 to $269.00 and set an “outperform” rating for the company in a report on Friday, October 4th. UBS Group cut their price objective on Biogen from $234.00 to $202.00 and set a “neutral” rating on the stock in a research report on Thursday, October 3rd. Raymond James reissued a “market perform” rating on shares of Biogen in a research report on Thursday, October 10th. Finally, Needham & Company LLC cut Biogen from a “buy” rating to a “hold” rating and set a $270.00 price objective on the stock. in a research report on Monday. Thirteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Biogen presently has an average rating of “Moderate Buy” and a consensus target price of $257.20.

Biogen Stock Performance

NASDAQ:BIIB opened at $158.43 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.80 and a current ratio of 1.26. Biogen Inc. has a 52-week low of $153.62 and a 52-week high of $268.30. The firm has a market cap of $23.09 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 1.47 and a beta of -0.06. The business’s fifty day moving average is $182.60 and its 200 day moving average is $205.76.

Biogen (NASDAQ:BIIB) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported $4.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.77 by $0.31. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.43 billion. Biogen had a return on equity of 14.98% and a net margin of 16.81%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.36 EPS. Research analysts predict that Biogen Inc. will post 16.45 EPS for the current year.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $204.22, for a total value of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares in the company, valued at $1,085,633.52. This represents a 7.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.16% of the company’s stock.

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.