Biogen Inc. (NASDAQ:BIIB) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Biogen Inc. (NASDAQ:BIIB) by 517.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,320 shares of the biotechnology company’s stock after purchasing an additional 117,576 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Biogen were worth $21,458,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD acquired a new position in Biogen in the fourth quarter valued at $8,340,000. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired a new position in Biogen in the fourth quarter valued at $2,860,000. Hopwood Financial Services Inc. acquired a new position in Biogen in the fourth quarter valued at $46,000. EverSource Wealth Advisors LLC increased its stake in Biogen by 662.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,448 shares of the biotechnology company’s stock worth $221,000 after acquiring an additional 1,258 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in Biogen by 31.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 3,026 shares of the biotechnology company’s stock worth $463,000 after acquiring an additional 729 shares during the last quarter. 87.93% of the stock is currently owned by institutional investors and hedge funds.

Biogen Trading Down 0.1 %

Shares of BIIB opened at $139.98 on Friday. The company has a market capitalization of $20.49 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.51 and a beta of 0.01. Biogen Inc. has a one year low of $128.51 and a one year high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35. The stock has a 50-day moving average price of $143.35 and a 200 day moving average price of $165.02.

Biogen (NASDAQ:BIIB) last announced its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Sell-side analysts forecast that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on BIIB. William Blair restated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Wells Fargo & Company dropped their price target on Biogen from $165.00 to $140.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. StockNews.com lowered Biogen from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 28th. HC Wainwright dropped their price target on Biogen from $300.00 to $241.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank dropped their price target on Biogen from $244.00 to $224.00 and set a “sector outperform” rating for the company in a research note on Thursday, February 13th. Seventeen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $213.33.

Insider Buying and Selling at Biogen

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’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 sale, the director now owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.16% of the stock is currently owned by insiders.

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.