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

Mackenzie Financial Corp lessened its position in shares of Biogen Inc. (NASDAQ:BIIB) by 45.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,664 shares of the biotechnology company’s stock after selling 21,558 shares during the quarter. Mackenzie Financial Corp’s holdings in Biogen were worth $5,949,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. KCM Investment Advisors LLC lifted its stake in shares of Biogen by 1.7% in the 1st quarter. KCM Investment Advisors LLC now owns 2,953 shares of the biotechnology company’s stock valued at $637,000 after purchasing an additional 48 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in Biogen by 39.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 172 shares of the biotechnology company’s stock valued at $40,000 after buying an additional 49 shares during the period. TFB Advisors LLC lifted its position in Biogen by 2.1% in the first quarter. TFB Advisors LLC now owns 2,450 shares of the biotechnology company’s stock valued at $530,000 after buying an additional 50 shares during the last quarter. QRG Capital Management Inc. lifted its position in Biogen by 2.0% in the first quarter. QRG Capital Management Inc. now owns 2,634 shares of the biotechnology company’s stock valued at $568,000 after buying an additional 51 shares during the last quarter. Finally, Plato Investment Management Ltd boosted its stake in Biogen by 82.8% during the first quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after buying an additional 53 shares during the period. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Biogen news, insider Priya Singhal sold 431 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total transaction of $88,018.82. Following the transaction, the insider now directly owns 5,316 shares of the company’s stock, valued at approximately $1,085,633.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.16% of the company’s stock.

Biogen Stock Performance

Shares of BIIB stock opened at $193.84 on Tuesday. The stock’s 50-day moving average is $203.47 and its two-hundred day moving average is $213.68. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.48 and a current ratio of 2.29. Biogen Inc. has a 1 year low of $188.78 and a 1 year high of $269.43. The firm has a market cap of $28.22 billion, a price-to-earnings ratio of 24.20, a PEG ratio of 1.97 and a beta of -0.06.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the business posted $4.02 EPS. The firm’s quarterly revenue was up .4% compared to the same quarter last year. Analysts predict that Biogen Inc. will post 16.12 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on BIIB. Barclays reduced their price target on shares of Biogen from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. StockNews.com upgraded Biogen from a “buy” rating to a “strong-buy” rating in a research note on Monday, September 2nd. Scotiabank lowered their price target on Biogen from $275.00 to $244.00 and set a “sector outperform” rating for the company in a research report on Friday, August 2nd. William Blair reiterated an “outperform” rating on shares of Biogen in a report on Wednesday, July 3rd. Finally, Mizuho lowered their target price on Biogen from $277.00 to $251.00 and set an “outperform” rating for the company in a report on Tuesday, August 6th. Eight research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $275.30.

Biogen Company 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.