Pensionfund Sabic Lowers stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Pensionfund Sabic reduced its stake in Biogen Inc by 14.44% during the most recent quarter end. The investment management company now holds a total of 7,700 shares of Biogen Inc which is valued at $2 Million after selling 1,300 shares in Biogen Inc according to a report filed by the company on Apr 4, 2016 with the SEC.Biogen Inc makes up approximately 0.62% of Pensionfund Sabic’s portfolio.

Other Hedge Funds, Including , Pensionfund Dsm Netherlands reduced its stake in BIIB by selling 1,600 shares or 8.38% in the most recent quarter. The Hedge Fund company now holds 17,500 shares of BIIB which is valued at $4.6 Million. Biogen Inc makes up approx 0.63% of Pensionfund Dsm Netherlands’s portfolio.

On the company’s financial health, Biogen Inc reported $4.50 EPS for the quarter, beating the analyst consensus estimate by $ 0.42 according to the earnings call on Jan 27, 2016. Analyst had a consensus of $4.08. The company had revenue of $2839.30 million for the quarter, compared to analysts expectations of $2716.03 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.09 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. Standpoint Research Initiated Biogen Inc on Jan 7, 2016 to “Buy”, Price Target of the shares are set at $360.

Biogen Inc closed down -5.64 points or -2.08% at $265.19 with 18,88,514 shares getting traded on Monday. Post opening the session at $271.57, the shares hit an intraday low of $264.21 and an intraday high of $272.9799 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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