Cutler Group Lp buys $28,616,231 stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Cutler Group Lp scooped up 6,936 additional shares in Biogen Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 11, 2016. The investment management firm now holds a total of 93,950 shares of Biogen Inc which is valued at $28,616,231.Biogen Inc makes up approximately 1.76% of Cutler Group Lp’s portfolio.

Other Hedge Funds, Including , Community Trust Investment Co boosted its stake in BIIB in the latest quarter, The investment management firm added 25 additional shares and now holds a total of 1,451 shares of Biogen Inc which is valued at $441,960. Biogen Inc makes up approx 0.06% of Community Trust Investment Co’s portfolio.First Mercantile Trust Co reduced its stake in BIIB by selling 1,362 shares or 11.91% in the most recent quarter. The Hedge Fund company now holds 10,072 shares of BIIB which is valued at $3,077,902. Biogen Inc makes up approx 0.41% of First Mercantile Trust Co’s portfolio.Independent Portfolio Consultants reduced its stake in BIIB by selling 100 shares or 25.77% in the most recent quarter. The Hedge Fund company now holds 288 shares of BIIB which is valued at $89,194. Biogen Inc makes up approx 0.03% of Independent Portfolio Consultants’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in BIIB in the latest quarter, The investment management firm added 33,875 additional shares and now holds a total of 152,259 shares of Biogen Inc which is valued at $47,154,612. Biogen Inc makes up approx 0.19% of Bnp Paribas Arbitrage Sa’s portfolio.Washington Trust Bank reduced its stake in BIIB by selling 20 shares or 1.6% in the most recent quarter. The Hedge Fund company now holds 1,233 shares of BIIB which is valued at $381,860. Biogen Inc makes up approx 0.09% of Washington Trust Bank’s portfolio.

Biogen Inc closed down -6.29 points or -2.07% at $298.3 with 14,94,581 shares getting traded on Tuesday. Post opening the session at $304.13, the shares hit an intraday low of $296.32 and an intraday high of $304.52 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 $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 Downgraded by Jefferies to ” Hold” on Sep 6, 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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