Orbimed Advisors Lowers stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Orbimed Advisors reduced its stake in Biogen Inc by 11.1% during the most recent quarter end. The investment management company now holds a total of 1,333,900 shares of Biogen Inc which is valued at $428,835,511 after selling 166,500 shares in Biogen Inc , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Biogen Inc makes up approximately 5.22% of Orbimed Advisors’s portfolio.

Other Hedge Funds, Including , Aberdeen Asset Management Plcuk reduced its stake in BIIB by selling 2,836 shares or 2.81% in the most recent quarter. The Hedge Fund company now holds 98,255 shares of BIIB which is valued at $31,588,000. Biogen Inc makes up approx 0.11% of Aberdeen Asset Management Plcuk’s portfolio.Tower Research Capital (trc) boosted its stake in BIIB in the latest quarter, The investment management firm added 877 additional shares and now holds a total of 1,267 shares of Biogen Inc which is valued at $374,551. Biogen Inc makes up approx 0.03% of Tower Research Capital (trc)’s portfolio. Bahl Gaynor Inc added BIIB to its portfolio by purchasing 645 company shares during the most recent quarter which is valued at $190,675.Ancora Inverness boosted its stake in BIIB in the latest quarter, The investment management firm added 442 additional shares and now holds a total of 5,070 shares of Biogen Inc which is valued at $1,404,390. Biogen Inc makes up approx 0.50% of Ancora Inverness’s portfolio.Appleton Partners Incma boosted its stake in BIIB in the latest quarter, The investment management firm added 2,112 additional shares and now holds a total of 6,084 shares of Biogen Inc which is valued at $1,663,913. Biogen Inc makes up approx 0.33% of Appleton Partners Incma’s portfolio.

Biogen Inc closed down -2.3 points or -0.72% at $317 with 12,98,399 shares getting traded on Monday. Post opening the session at $318.86, the shares hit an intraday low of $313.31 and an intraday high of $321 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 $5.19 EPS for the quarter, beating the analyst consensus estimate by $ 0.21 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $4.98. The company had revenue of $2956.00 million for the quarter, compared to analysts expectations of $2907.98 million. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.48 EPS.

Many Wall Street Analysts have commented on Biogen Inc. Mizuho Initiated Biogen Inc on Nov 8, 2016 to “Buy”, Price Target of the shares are set at $290.Biogen Inc was Upgraded by Piper Jaffray to ” Overweight” on Nov 7, 2016. Biogen Inc was Upgraded by Leerink Partners to ” Outperform” on Nov 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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