Sector Gamma As buys $23.2 Million stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Sector Gamma As scooped up 6,610 additional shares in Biogen Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 27, 2016. The investment management firm now holds a total of 81,910 shares of Biogen Inc which is valued at $23.2 Million.Biogen Inc makes up approximately 4.34% of Sector Gamma As’s portfolio.

Other Hedge Funds, Including , Hemenway Trust Co sold out all of its stake in BIIB during the most recent quarter. The investment firm sold 273 shares of BIIB which is valued $77,202.Advisors Asset Management reduced its stake in BIIB by selling 3,306 shares or 11.84% in the most recent quarter. The Hedge Fund company now holds 24,619 shares of BIIB which is valued at $6.5 Million. Biogen Inc makes up approx 0.11% of Advisors Asset Management’s portfolio.D. E. Shaw boosted its stake in BIIB in the latest quarter, The investment management firm added 135,608 additional shares and now holds a total of 2,228,217 shares of Biogen Inc which is valued at $587.5 Million. Biogen Inc makes up approx 1.30% of D. E. Shaw’s portfolio.Westfield Capital Management Co Lp reduced its stake in BIIB by selling 141,199 shares or 27.49% in the most recent quarter. The Hedge Fund company now holds 372,468 shares of BIIB which is valued at $97.6 Million. Biogen Inc makes up approx 0.75% of Westfield Capital Management Co Lp’s portfolio. Bienville Capital Management sold out all of its stake in BIIB during the most recent quarter. The investment firm sold 676 shares of BIIB which is valued $177,132.

Biogen Inc closed down -36.98 points or -12.76% at $252.86 with 88,76,397 shares getting traded on Tuesday. Post opening the session at $264.45, the shares hit an intraday low of $250.87 and an intraday high of $264.73 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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. Biogen Inc was Downgraded by Citigroup to ” Neutral” on Jun 7, 2016.

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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