Mitsubishi Ufj Kokusai Asset Management Ltd. buys $22,894,832 stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Mitsubishi Ufj Kokusai Asset Management Ltd. scooped up 5,465 additional shares in Biogen Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 71,248 shares of Biogen Inc which is valued at $22,894,832.Biogen Inc makes up approximately 0.58% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.

Other Hedge Funds, Including , 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.Herndon Capital Management reduced its stake in BIIB by selling 1,617 shares or 98.78% in the most recent quarter. The Hedge Fund company now holds 20 shares of BIIB which is valued at $5,799.United Bank Va boosted its stake in BIIB in the latest quarter, The investment management firm added 176 additional shares and now holds a total of 1,455 shares of Biogen Inc which is valued at $419,549. Biogen Inc makes up approx 0.40% of United Bank Va’s portfolio.Newsquare Capital reduced its stake in BIIB by selling 15 shares or 9.55% in the most recent quarter. The Hedge Fund company now holds 142 shares of BIIB which is valued at $40,946. Biogen Inc makes up approx 0.01% of Newsquare Capital’s portfolio. Murphy Capital Management Inc sold out all of its stake in BIIB during the most recent quarter. The investment firm sold 1,075 shares of BIIB which is valued $282,091.

Biogen Inc closed down -2.31 points or -0.73% at $313.65 with 21,36,783 shares getting traded on Monday. Post opening the session at $316.02, the shares hit an intraday low of $309.16 and an intraday high of $316.35 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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