Biogen Inc. (NASDAQ:BIIB) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its holdings in Biogen Inc. (NASDAQ:BIIB - Free Report) by 140.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,846 shares of the biotechnology company's stock after acquiring an additional 19,759 shares during the quarter. Mackenzie Financial Corp's holdings in Biogen were worth $5,176,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BIIB. Vanguard Group Inc. lifted its holdings in shares of Biogen by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company's stock worth $2,561,238,000 after purchasing an additional 70,368 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Biogen by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock worth $563,709,000 after purchasing an additional 82,456 shares during the period. Norges Bank acquired a new stake in shares of Biogen during the fourth quarter worth about $355,569,000. Invesco Ltd. lifted its holdings in shares of Biogen by 30.6% during the fourth quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after purchasing an additional 499,074 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Biogen by 1.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,933,716 shares of the biotechnology company's stock worth $295,705,000 after purchasing an additional 21,170 shares during the period. Institutional investors and hedge funds own 87.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Sanford C. Bernstein assumed coverage on Biogen in a report on Tuesday, February 11th. They set a "market perform" rating and a $160.00 target price for the company. Mizuho reduced their price target on Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. HC Wainwright reduced their price target on Biogen from $241.00 to $187.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Bank Of America (Bofa) reduced their price target on Biogen from $178.00 to $163.00 and set a "neutral" rating for the company in a research report on Tuesday, February 11th. Finally, Piper Sandler reduced their price target on Biogen from $135.00 to $115.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Twenty equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $191.30.

Biogen Stock Up 1.0%

NASDAQ BIIB traded up $1.35 during trading hours on Monday, hitting $131.14. 1,868,096 shares of the company were exchanged, compared to its average volume of 1,413,419. The company has a 50 day moving average of $123.21 and a two-hundred day moving average of $138.87. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $238.00. The firm has a market cap of $19.22 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.51 and a beta of 0.12.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The biotechnology company reported $3.02 EPS for the quarter, missing analysts' consensus estimates of $3.26 by ($0.24). Biogen had a net margin of 16.87% and a return on equity of 14.98%. The business had revenue of $2.43 billion during the quarter, compared to analysts' expectations of $2.25 billion. During the same quarter in the previous year, the company posted $3.67 EPS. The company's revenue was up 6.2% compared to the same quarter last year. Equities research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Activity

In related news, Director Stephen A. Sherwin sold 8,760 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the transaction, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This trade represents a 43.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.16% of the company's stock.

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.