Cibc World Markets Corp buys $55,621,064 stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Cibc World Markets Corp scooped up 163,771 additional shares in Biogen Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 177,171 shares of Biogen Inc which is valued at $55,621,064.Biogen Inc makes up approximately 1.79% of Cibc World Markets Corp’s portfolio.

Other Hedge Funds, Including , Delphi Private Advisors boosted its stake in BIIB in the latest quarter, The investment management firm added 5 additional shares and now holds a total of 23 shares of Biogen Inc which is valued at $7,221. Biogen Inc makes up approx 0.01% of Delphi Private Advisors’s portfolio. First Personal Financial Services added BIIB to its portfolio by purchasing 355 company shares during the most recent quarter which is valued at $111,346. Biogen Inc makes up approx 0.04% of First Personal Financial Services’s portfolio.Saturna Capital Corp boosted its stake in BIIB in the latest quarter, The investment management firm added 127 additional shares and now holds a total of 928 shares of Biogen Inc which is valued at $291,847. Biogen Inc makes up approx 0.01% of Saturna Capital Corp’s portfolio.Cibc Asset Management Inc boosted its stake in BIIB in the latest quarter, The investment management firm added 222 additional shares and now holds a total of 27,499 shares of Biogen Inc which is valued at $8,836,529. Biogen Inc makes up approx 0.06% of Cibc Asset Management Inc’s portfolio.Chartist Inc Ca reduced its stake in BIIB by selling 69 shares or 6.08% in the most recent quarter. The Hedge Fund company now holds 1,065 shares of BIIB which is valued at $342,227. Biogen Inc makes up approx 0.17% of Chartist Inc Ca’s portfolio.

Biogen Inc opened for trading at $316.81 and hit $322.99 on the upside on Tuesday, eventually ending the session at $318.17, with a gain of 0.43% or 1.36 points. The heightened volatility saw the trading volume jump to 14,29,298 shares. Company has a market cap of $69,718 M.

On the company’s financial health, Biogen Inc reported $5.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.52 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $4.69. The company had revenue of $2894.00 million for the quarter, compared to analysts expectations of $2790.65 million. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.22 EPS.

Many Wall Street Analysts have commented on Biogen Inc. Biogen Inc was Initiated by Bernstein to “Outperform” on Jun 29, 2016. Biogen Inc was Downgraded by Citigroup to ” Neutral” on Jun 7, 2016.

Biogen Inc. formerly Biogen Idec Inc. is a global biopharmaceutical company. The Company is focused on discovering developing manufacturing and delivering therapies for neurological autoimmune and hematologic disorders. The Company develops manufactures and markets products designed for the treatment of multiple sclerosis (MS) and hemophilia A and B. The Company’s marketed products include AVONEX PLEGRIDY TECFIDERA TYSABRI FAMPYRA for multiple sclerosis (MS) ALPROLIX for hemophilia B and ELOCTATE for hemophilia A among others. It also collaborates on the development and commercialization of RITUXAN (rituximab) which is a monoclonal antibody for the treatment of non-Hodgkin’s lymphoma chronic lymphocytic leukemia and other conditions and share profits and losses for GAZYVA which is for the treatment of chronic lymphocytic leukemia.

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