Waldron Lp Lowers stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Waldron Lp reduced its stake in Biogen Inc by 7.16% during the most recent quarter end. The investment management company now holds a total of 2,749 shares of Biogen Inc which is valued at $864,533 after selling 212 shares in Biogen Inc , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Biogen Inc makes up approximately 0.31% of Waldron Lp’s portfolio.

Other Hedge Funds, Including , Ajo Lp boosted its stake in BIIB in the latest quarter, The investment management firm added 99,758 additional shares and now holds a total of 140,331 shares of Biogen Inc which is valued at $44,014,818. Biogen Inc makes up approx 0.19% of Ajo Lp’s portfolio.Sg Americas Securities reduced its stake in BIIB by selling 51,665 shares or 61.59% in the most recent quarter. The Hedge Fund company now holds 32,226 shares of BIIB which is valued at $10,355,503. Biogen Inc makes up approx 0.08% of Sg Americas Securities’s portfolio.American Research Management boosted its stake in BIIB in the latest quarter, The investment management firm added 1,890 additional shares and now holds a total of 6,815 shares of Biogen Inc which is valued at $1,975,873. Biogen Inc makes up approx 0.73% of American Research Management’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.

Biogen Inc opened for trading at $314.17 and hit $314.71 on the upside on Wednesday, eventually ending the session at $313.82, with a gain of 0.13% or 0.4 points. The heightened volatility saw the trading volume jump to 8,52,640 shares. Company has a market cap of $68,764 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.

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