Biogen Inc (BIIB) : Quantres Asset Management Ltd added new position in Biogen Inc during the most recent quarter end. The investment management firm now holds 10,400 shares of Biogen Inc which is valued at $2,992,912 , the company said in a statement filed on Jul 20, 2016 with the SEC.Biogen Inc makes up approximately 1.78% of Quantres Asset Management Ltd’s portfolio.
Other Hedge Funds, Including , Palo Capital boosted its stake in BIIB in the latest quarter, The investment management firm added 4,072 additional shares and now holds a total of 6,428 shares of Biogen Inc which is valued at $1,849,850. Biogen Inc makes up approx 0.61% of Palo Capital’s portfolio.Cim reduced its stake in BIIB by selling 14,836 shares or 58.65% in the most recent quarter. The Hedge Fund company now holds 10,459 shares of BIIB which is valued at $2,735,029. Biogen Inc makes up approx 1.33% of Cim’s portfolio.Capstone Asset Management Co boosted its stake in BIIB in the latest quarter, The investment management firm added 818 additional shares and now holds a total of 21,462 shares of Biogen Inc which is valued at $5,391,040. Biogen Inc makes up approx 0.16% of Capstone Asset Management Co’s portfolio.Cutler Group Lp boosted its stake in BIIB in the latest quarter, The investment management firm added 68,143 additional shares and now holds a total of 87,014 shares of Biogen Inc which is valued at $21,857,047. Biogen Inc makes up approx 1.48% of Cutler Group Lp’s portfolio. Cohen Lawrence B added BIIB to its portfolio by purchasing 5,880 company shares during the most recent quarter which is valued at $1,477,644. Biogen Inc makes up approx 0.87% of Cohen Lawrence B’s portfolio.
Biogen Inc opened for trading at $259.87 and hit $263.16 on the upside on Wednesday, eventually ending the session at $262.41, with a gain of 1.00% or 2.59 points. The heightened volatility saw the trading volume jump to 18,30,168 shares. Company has a market cap of $57,481 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.