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

Mackenzie Financial Corp grew its stake in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 29.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Biogen by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 11,720,584 shares of the biotechnology company's stock valued at $2,468,356,000 after purchasing an additional 183,285 shares during the last quarter. State Street Corp boosted its stake in shares of Biogen by 2.8% during the first quarter. State Street Corp now owns 7,208,906 shares of the biotechnology company's stock valued at $1,518,196,000 after purchasing an additional 197,400 shares in the last quarter. Wellington Management Group LLP lifted its holdings in Biogen by 0.5% during the third quarter. Wellington Management Group LLP now owns 5,374,310 shares of the biotechnology company's stock worth $1,381,251,000 after buying an additional 27,951 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Biogen by 49.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,356 shares of the biotechnology company's stock valued at $580,627,000 after acquiring an additional 691,843 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Biogen by 2.8% in the 3rd quarter. Northern Trust Corp now owns 1,643,035 shares of the biotechnology company's stock valued at $422,276,000 after acquiring an additional 45,437 shares during the period. Institutional investors own 87.93% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BIIB. Canaccord Genuity Group cut their target price on Biogen from $310.00 to $305.00 and set a "buy" rating on the stock in a research note on Tuesday, February 20th. BTIG Research reissued a "neutral" rating on shares of Biogen in a research report on Sunday, January 7th. Piper Sandler decreased their price target on Biogen from $350.00 to $325.00 and set an "overweight" rating for the company in a research note on Wednesday, February 14th. Oppenheimer dropped their price target on Biogen from $290.00 to $270.00 and set an "outperform" rating on the stock in a research note on Friday. Finally, Barclays decreased their price objective on shares of Biogen from $230.00 to $215.00 and set an "equal weight" rating for the company in a research report on Thursday, April 4th. Ten research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $295.58.

Insider Buying and Selling at Biogen

In other news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the sale, the insider now owns 4,516 shares of the company's stock, valued at approximately $1,081,356.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Biogen news, insider Priya Singhal sold 419 shares of Biogen stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $239.45, for a total transaction of $100,329.55. Following the completion of the sale, the insider now directly owns 4,516 shares in the company, valued at $1,081,356.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Eric K. Rowinsky bought 455 shares of the company's stock in a transaction that occurred on Thursday, February 15th. The stock was bought at an average price of $222.54 per share, with a total value of $101,255.70. Following the acquisition, the director now directly owns 20,629 shares in the company, valued at approximately $4,590,777.66. The disclosure for this purchase can be found here. Insiders have sold 882 shares of company stock worth $202,030 in the last ninety days. 0.60% of the stock is owned by insiders.

Biogen Price Performance

BIIB stock traded up $3.86 during midday trading on Friday, reaching $194.38. The stock had a trading volume of 1,599,576 shares, compared to its average volume of 1,162,019. Biogen Inc. has a 52-week low of $189.44 and a 52-week high of $319.76. 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's fifty day simple moving average is $216.17 and its 200 day simple moving average is $236.24. The company has a market cap of $28.26 billion, a price-to-earnings ratio of 24.36, a price-to-earnings-growth ratio of 1.83 and a beta of -0.02.

Biogen (NASDAQ:BIIB - Get Free Report) last posted its quarterly 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). The business had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.47 billion. Biogen had a return on equity of 14.91% and a net margin of 11.81%. During the same period in the prior year, the business posted $4.05 earnings per share. As a group, sell-side analysts predict that Biogen Inc. will post 15.48 earnings per share for the current fiscal year.

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.