West Oak Capital Lowers stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : West Oak Capital reduced its stake in Biogen Inc by 3.39% during the most recent quarter end. The investment management company now holds a total of 4,419 shares of Biogen Inc which is valued at $1,368,564 after selling 155 shares in Biogen Inc , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Biogen Inc makes up approximately 0.95% of West Oak Capital’s portfolio.

Other Hedge Funds, Including , Eqis Capital Management reduced its stake in BIIB by selling 1,148 shares or 16.36% in the most recent quarter. The Hedge Fund company now holds 5,867 shares of BIIB which is valued at $1,817,010. Biogen Inc makes up approx 0.11% of Eqis Capital Management’s portfolio. Harbour Capital Advisors sold out all of its stake in BIIB during the most recent quarter. The investment firm sold 778 shares of BIIB which is valued $240,947.

Biogen Inc closed down -0.11 points or -0.04% at $311.48 with 9,14,048 shares getting traded on Tuesday. Post opening the session at $311.94, the shares hit an intraday low of $309.885 and an intraday high of $313.9999 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 Downgraded by Jefferies to ” Hold” on Sep 6, 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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