Hellman Jordan Management Co Inc Lowers stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Hellman Jordan Management Co Inc reduced its stake in Biogen Inc by 88.27% during the most recent quarter end. The investment management company now holds a total of 5,303 shares of Biogen Inc which is valued at $1,499,158 after selling 39,921 shares in Biogen Inc , the firm said in a disclosure report filed with the SEC on Apr 18, 2016.Biogen Inc makes up approximately 3.64% of Hellman Jordan Management Co Inc’s portfolio.

Biogen Inc opened for trading at $280.4 and hit $283.54 on the upside on Friday, eventually ending the session at $282.7, with a gain of 1.11% or 3.1 points. The heightened volatility saw the trading volume jump to 23,55,104 shares. Company has a market cap of $61,926 M.

Other Hedge Funds, Including , Davis R M Inc boosted its stake in BIIB in the latest quarter, The investment management firm added 291 additional shares and now holds a total of 1,835 shares of Biogen Inc which is valued at $518,755. Biogen Inc makes up approx 0.03% of Davis R M Inc’s portfolio.Quotient Investors boosted its stake in BIIB in the latest quarter, The investment management firm added 696 additional shares and now holds a total of 7,999 shares of Biogen Inc which is valued at $2,147,732. Biogen Inc makes up approx 0.78% of Quotient Investors’s portfolio.Eqis Capital Management boosted its stake in BIIB in the latest quarter, The investment management firm added 302 additional shares and now holds a total of 5,739 shares of Biogen Inc which is valued at $1,521,925. Biogen Inc makes up approx 0.11% of Eqis Capital Management’s portfolio.Filament reduced its stake in BIIB by selling 260 shares or 17.81% in the most recent quarter. The Hedge Fund company now holds 1,200 shares of BIIB which is valued at $318,228. Biogen Inc makes up approx 0.15% of Filament’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 was Initiated by Credit Suisse to “Neutral” on Jan 20, 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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