Sabby Management adds Biogen Inc (BIIB) to its portfolio

Biogen Inc (BIIB) : Sabby Management added new position in Biogen Inc during the most recent quarter end. The investment management firm now holds 37,077 shares of Biogen Inc which is valued at $9.7 Million , the company said in a statement filed on May 13, 2016 with the SEC.Biogen Inc makes up approximately 3.35% of Sabby Management’s portfolio.

Other Hedge Funds, Including , Westend Advisors boosted its stake in BIIB in the latest quarter, The investment management firm added 71,325 additional shares and now holds a total of 369,699 shares of Biogen Inc which is valued at $96.9 Million. Biogen Inc makes up approx 4.93% of Westend Advisors’s portfolio. Archford Capital Strategies sold out all of its stake in BIIB during the most recent quarter. The investment firm sold 74 shares of BIIB which is valued $19,390. B T Capital Management Dba Alpha Capital Management added BIIB to its portfolio by purchasing 5,026 company shares during the most recent quarter which is valued at $1.3 Million. Biogen Inc makes up approx 0.95% of B T Capital Management Dba Alpha Capital Management’s portfolio.

Biogen Inc opened for trading at $273.73 and hit $280.07 on the upside on Wednesday, eventually ending the session at $279.7, with a gain of 2.48% or 6.76 points. The heightened volatility saw the trading volume jump to 17,96,363 shares. Company has a market cap of $61,269 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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