Ameritas Investment Partners buys $5.4 Million stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Ameritas Investment Partners scooped up 269 additional shares in Biogen Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 20,559 shares of Biogen Inc which is valued at $5.4 Million.Biogen Inc makes up approximately 0.37% of Ameritas Investment Partners’s portfolio.

Other Hedge Funds, Including , Cornercap Investment Counsel Inc boosted its stake in BIIB in the latest quarter, The investment management firm added 305 additional shares and now holds a total of 25,065 shares of Biogen Inc which is valued at $6.6 Million. Biogen Inc makes up approx 1.26% of Cornercap Investment Counsel Inc’s portfolio.Shinko Asset Management Ltd. reduced its stake in BIIB by selling 78 shares or 11.8% in the most recent quarter. The Hedge Fund company now holds 583 shares of BIIB which is valued at $152,763.Northeast Financial Consultants Inc boosted its stake in BIIB in the latest quarter, The investment management firm added 21 additional shares and now holds a total of 3,740 shares of Biogen Inc which is valued at $979,992. Biogen Inc makes up approx 0.50% of Northeast Financial Consultants Inc’s portfolio.Pitcairn Co boosted its stake in BIIB in the latest quarter, The investment management firm added 833 additional shares and now holds a total of 4,896 shares of Biogen Inc which is valued at $1.3 Million. Biogen Inc makes up approx 0.17% of Pitcairn Co’s portfolio.

Biogen Inc opened for trading at $259.31 and hit $265.55 on the upside on Friday, eventually ending the session at $263.66, with a gain of 1.91% or 4.94 points. The heightened volatility saw the trading volume jump to 13,40,393 shares. Company has a market cap of $57,754,987 M.

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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