D. E. Shaw buys $699,526,445 stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : D. E. Shaw scooped up 135,608 additional shares in Biogen Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 2,228,217 shares of Biogen Inc which is valued at $699,526,445.Biogen Inc makes up approximately 1.44% of D. E. Shaw’s portfolio.

Other Hedge Funds, Including , Paulson boosted its stake in BIIB in the latest quarter, The investment management firm added 82,200 additional shares and now holds a total of 118,400 shares of Biogen Inc which is valued at $37,170,496. Biogen Inc makes up approx 0.27% of Paulson’s portfolio. Rowland Co Investment Counseladv added BIIB to its portfolio by purchasing 506 company shares during the most recent quarter which is valued at $158,854. Biogen Inc makes up approx 0.07% of Rowland Co Investment Counseladv’s portfolio.Commonwealth Equity Services Inc boosted its stake in BIIB in the latest quarter, The investment management firm added 563 additional shares and now holds a total of 32,297 shares of Biogen Inc which is valued at $10,204,560. Biogen Inc makes up approx 0.08% of Commonwealth Equity Services Inc’s portfolio.

Biogen Inc opened for trading at $307.96 and hit $309.25 on the upside on Thursday, eventually ending the session at $306.03, with a gain of 0.13% or 0.4 points. The heightened volatility saw the trading volume jump to 10,68,034 shares. Company has a market cap of $67,058 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 Downgraded by Jefferies to ” Hold” on Sep 6, 2016. 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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