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

Mackenzie Financial Corp grew its stake in Biogen Inc. (NASDAQ:BIIB) by 29.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 60,626 shares of the biotechnology company’s stock after purchasing an additional 13,796 shares during the period. Mackenzie Financial Corp’s holdings in Biogen were worth $15,688,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Altshuler Shaham Ltd purchased a new position in Biogen during the fourth quarter worth $25,000. OFI Invest Asset Management purchased a new stake in Biogen in the 3rd quarter worth about $26,000. Gladius Capital Management LP bought a new stake in Biogen in the third quarter worth about $28,000. KB Financial Partners LLC boosted its position in shares of Biogen by 105.1% during the third quarter. KB Financial Partners LLC now owns 121 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 62 shares during the period. Finally, CVA Family Office LLC bought a new position in shares of Biogen during the fourth quarter valued at approximately $36,000. Institutional investors own 87.93% of the company’s stock.

Biogen Stock Performance

Biogen stock opened at $190.52 on Friday. 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 Inc. has a fifty-two week low of $189.52 and a fifty-two week high of $319.76. The stock has a fifty day moving average of $216.17 and a two-hundred day moving average of $236.24. The company has a market capitalization of $27.69 billion, a price-to-earnings ratio of 23.87, a PEG ratio of 1.86 and a beta of -0.02.

Biogen (NASDAQ:BIIB) last announced its earnings results on Tuesday, February 13th. The biotechnology company reported $2.95 earnings per share for the quarter, missing the consensus estimate of $3.18 by ($0.23). Biogen had a net margin of 11.81% and a return on equity of 14.91%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the firm posted $4.05 EPS. On average, analysts anticipate that Biogen Inc. will post 15.48 EPS for the current fiscal year.

Insider Activity at Biogen

In other news, Director Eric K. Rowinsky bought 455 shares of the stock in a transaction on Thursday, February 15th. The stock was purchased at an average cost of $222.54 per share, with a total value of $101,255.70. Following the purchase, the director now owns 20,629 shares of the company’s stock, valued at $4,590,777.66. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Priya Singhal sold 262 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $221.23, for a total value of $57,962.26. Following the completion of the transaction, the insider now directly owns 4,886 shares in the company, valued at $1,080,929.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric K. Rowinsky purchased 455 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost 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 in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 882 shares of company stock valued at $202,030. Company insiders own 0.60% of the company’s stock.

Wall Street Analysts Forecast Growth

BIIB has been the subject of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $311.00 price target on shares of Biogen in a research note on Tuesday, February 20th. BTIG Research reiterated a “neutral” rating on shares of Biogen in a research report on Sunday, January 7th. UBS Group cut their price target on shares of Biogen from $250.00 to $214.00 and set a “neutral” rating on the stock in a report on Wednesday. Royal Bank of Canada reiterated an “outperform” rating and set a $364.00 price objective on shares of Biogen in a report on Tuesday, March 5th. Finally, Robert W. Baird lowered their price target on Biogen from $333.00 to $316.00 and set an “outperform” rating for the company in a report on Wednesday, February 14th. Ten research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Biogen currently has an average rating of “Moderate Buy” and an average target price of $296.35.

Biogen 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.