Mackenzie Financial Corp Purchases 13,796 Shares of Biogen Inc. (NASDAQ:BIIB)

Mackenzie Financial Corp boosted its holdings in shares of Biogen Inc. (NASDAQ:BIIB) by 29.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 60,626 shares of the biotechnology company’s stock after buying an additional 13,796 shares during the period. Mackenzie Financial Corp’s holdings in Biogen were worth $15,688,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Altshuler Shaham Ltd bought a new position in shares of Biogen in the 4th quarter worth $25,000. OFI Invest Asset Management purchased a new stake in Biogen during the third quarter valued at about $26,000. Gladius Capital Management LP bought a new stake in Biogen during the third quarter worth about $28,000. KB Financial Partners LLC boosted its holdings in shares of Biogen by 105.1% in the 3rd quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock worth $31,000 after purchasing an additional 62 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in shares of Biogen during the 4th quarter valued at about $36,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Biogen

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

Wall Street Analyst Weigh In

BIIB has been the topic of a number of recent research reports. BTIG Research reiterated a “neutral” rating on shares of Biogen in a research report on Sunday, January 7th. Barclays decreased their target price on shares of Biogen from $230.00 to $215.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 4th. HC Wainwright restated a “buy” rating and set a $325.00 price target on shares of Biogen in a research report on Wednesday, February 14th. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Monday, April 1st. Finally, Bank of America dropped their target price on Biogen from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Biogen has a consensus rating of “Moderate Buy” and a consensus target price of $296.35.

Biogen Price Performance

BIIB opened at $190.52 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.26 and a debt-to-equity ratio of 0.46. The company has a market cap of $27.69 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 1.86 and a beta of -0.02. The stock has a fifty day simple moving average of $216.17 and a two-hundred day simple moving average of $236.24. Biogen Inc. has a 12-month low of $189.52 and a 12-month high of $319.76.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results 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 business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same quarter in the previous year, the business earned $4.05 earnings per share. Research analysts predict that Biogen Inc. will post 15.48 earnings per share for the current fiscal 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.