Jgp Global Gestao De Recursos Ltda. Lowers stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Jgp Global Gestao De Recursos Ltda. reduced its stake in Biogen Inc by 74.06% during the most recent quarter end. The investment management company now holds a total of 8,036 shares of Biogen Inc which is valued at $2.1 Million after selling 22,938 shares in Biogen Inc , the firm said in a disclosure report filed with the SEC on May 12, 2016.Biogen Inc makes up approximately 5.78% of Jgp Global Gestao De Recursos Ltda.’s portfolio.

Other Hedge Funds, Including , Segall Bryant Hamill reduced its stake in BIIB by selling 15 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 22,321 shares of BIIB which is valued at $5.8 Million. Biogen Inc makes up approx 0.15% of Segall Bryant Hamill’s portfolio.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.First Trust Advisors Lp reduced its stake in BIIB by selling 271,686 shares or 66.45% in the most recent quarter. The Hedge Fund company now holds 137,145 shares of BIIB which is valued at $35.9 Million. Biogen Inc makes up approx 0.12% of First Trust Advisors Lp’s portfolio.Ftb Advisors boosted its stake in BIIB in the latest quarter, The investment management firm added 2,572 additional shares and now holds a total of 15,446 shares of Biogen Inc which is valued at $4 Million. Biogen Inc makes up approx 0.46% of Ftb Advisors’s portfolio.American Century Companies Inc reduced its stake in BIIB by selling 1,380 shares or 0.1% in the most recent quarter. The Hedge Fund company now holds 1,407,285 shares of BIIB which is valued at $371 Million. Biogen Inc makes up approx 0.43% of American Century Companies Inc’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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