Klingenstein Fields Co buys $18,606,871 stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Klingenstein Fields Co scooped up 2,986 additional shares in Biogen Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 57,904 shares of Biogen Inc which is valued at $18,606,871.Biogen Inc makes up approximately 0.85% of Klingenstein Fields Co’s portfolio.

Other Hedge Funds, Including , Sit Investment Associates Inc reduced its stake in BIIB by selling 2,545 shares or 33.64% in the most recent quarter. The Hedge Fund company now holds 5,020 shares of BIIB which is valued at $1,455,449. Biogen Inc makes up approx 0.04% of Sit Investment Associates Inc’s portfolio. Simplex Trading added BIIB to its portfolio by purchasing 56,467 company shares during the most recent quarter which is valued at $14,817,505. Biogen Inc makes up approx 1.87% of Simplex Trading’s portfolio.Dnb Asset Management As boosted its stake in BIIB in the latest quarter, The investment management firm added 4,000 additional shares and now holds a total of 39,898 shares of Biogen Inc which is valued at $10,026,367. Biogen Inc makes up approx 0.21% of Dnb Asset Management As’s portfolio. American National Bank sold out all of its stake in BIIB during the most recent quarter. The investment firm sold 100 shares of BIIB which is valued $25,130.

Biogen Inc closed down -6.78 points or -2.11% at $314.56 with 20,02,341 shares getting traded on Thursday. Post opening the session at $320.15, the shares hit an intraday low of $314.01 and an intraday high of $320.45 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Biogen Inc reported $5.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.52 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $4.69. The company had revenue of $2894.00 million for the quarter, compared to analysts expectations of $2790.65 million. The company’s revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.22 EPS.

Many Wall Street Analysts have commented on Biogen Inc. Biogen Inc was Initiated by Bernstein to “Outperform” on Jun 29, 2016. 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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