Alta Capital Management buys $11,622,362 stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Alta Capital Management scooped up 25,317 additional shares in Biogen Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 41,112 shares of Biogen Inc which is valued at $11,622,362.Biogen Inc makes up approximately 0.71% of Alta Capital Management’s portfolio.

Biogen Inc closed down -1.64 points or -0.58% at $280.06 with 10,99,742 shares getting traded on Wednesday. Post opening the session at $281.57, the shares hit an intraday low of $278.52 and an intraday high of $282 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Montrusco Bolton Investments reduced its stake in BIIB by selling 6,417 shares or 11.7% in the most recent quarter. The Hedge Fund company now holds 48,446 shares of BIIB which is valued at $13,695,684. Biogen Inc makes up approx 1.07% of Montrusco Bolton Investments’s portfolio.Highland Capital Management boosted its stake in BIIB in the latest quarter, The investment management firm added 2,964 additional shares and now holds a total of 10,441 shares of Biogen Inc which is valued at $2,803,409. Biogen Inc makes up approx 0.24% of Highland Capital Management’s portfolio.Berkshire Asset Managementpa boosted its stake in BIIB in the latest quarter, The investment management firm added 68 additional shares and now holds a total of 2,964 shares of Biogen Inc which is valued at $795,834. Biogen Inc makes up approx 0.12% of Berkshire Asset Managementpa’s portfolio. Tnb Financial added BIIB to its portfolio by purchasing 8,799 company shares during the most recent quarter which is valued at $2,362,532. Biogen Inc makes up approx 0.70% of Tnb Financial’s portfolio.

On the company’s financial health, Biogen Inc reported $4.79 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $4.47. The company had revenue of $2727.00 million for the quarter, compared to analysts expectations of $2745.21 million. The company’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.82 EPS.

Many Wall Street Analysts have commented on Biogen Inc. Citigroup Initiated Biogen Inc on Feb 25, 2016 to “Buy”, Price Target of the shares are set at $345.

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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