Hikari Power Ltd buys $3.5 Million stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Hikari Power Ltd scooped up 10,400 additional shares in Biogen Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 13,200 shares of Biogen Inc which is valued at $3.5 Million.Biogen Inc makes up approximately 0.40% of Hikari Power Ltd’s portfolio.

Other Hedge Funds, Including , Provise Management Group reduced its stake in BIIB by selling 200 shares or 18.18% in the most recent quarter. The Hedge Fund company now holds 900 shares of BIIB which is valued at $235,827. Biogen Inc makes up approx 0.05% of Provise Management Group’s portfolio.Stephens Inc Ar boosted its stake in BIIB in the latest quarter, The investment management firm added 1,401 additional shares and now holds a total of 9,967 shares of Biogen Inc which is valued at $2.6 Million. Biogen Inc makes up approx 0.13% of Stephens Inc Ar’s portfolio.Bank Of The West boosted its stake in BIIB in the latest quarter, The investment management firm added 1,721 additional shares and now holds a total of 29,834 shares of Biogen Inc which is valued at $7.9 Million. Biogen Inc makes up approx 1.09% of Bank Of The West’s portfolio.

Biogen Inc opened for trading at $263.03 and hit $266.95 on the upside on Monday, eventually ending the session at $266.26, with a gain of 1.61% or 4.23 points. The heightened volatility saw the trading volume jump to 13,06,115 shares. Company has a market cap of $58,325 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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