Simplex Trading Lowers stake in Biogen Inc (BIIB)

Biogen Inc (BIIB) : Simplex Trading reduced its stake in Biogen Inc by 22.5% during the most recent quarter end. The investment management company now holds a total of 43,761 shares of Biogen Inc which is valued at $13,372,924 after selling 12,706 shares in Biogen Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Biogen Inc makes up approximately 1.74% of Simplex Trading’s portfolio.

Other Hedge Funds, Including , Arvest Bank Trust Division reduced its stake in BIIB by selling 44,375 shares or 50.43% in the most recent quarter. The Hedge Fund company now holds 43,621 shares of BIIB which is valued at $13,330,141. Biogen Inc makes up approx 1.12% of Arvest Bank Trust Division’s portfolio.Chevy Chase Trust Holdings reduced its stake in BIIB by selling 4,233 shares or 2.11% in the most recent quarter. The Hedge Fund company now holds 196,309 shares of BIIB which is valued at $60,796,897. Biogen Inc makes up approx 0.33% of Chevy Chase Trust Holdings’s portfolio.Boltwood Capital Management boosted its stake in BIIB in the latest quarter, The investment management firm added 55 additional shares and now holds a total of 2,100 shares of Biogen Inc which is valued at $650,370. Biogen Inc makes up approx 0.52% of Boltwood Capital Management’s portfolio.West Oak Capital reduced its stake in BIIB by selling 155 shares or 3.39% in the most recent quarter. The Hedge Fund company now holds 4,419 shares of BIIB which is valued at $1,368,564. Biogen Inc makes up approx 0.95% of West Oak Capital’s portfolio. Harbour Capital Advisors sold out all of its stake in BIIB during the most recent quarter. The investment firm sold 778 shares of BIIB which is valued $240,947.

Biogen Inc closed down -0.4 points or -0.13% at $305.59 with 15,25,994 shares getting traded on Friday. Post opening the session at $307.31, the shares hit an intraday low of $302.215 and an intraday high of $308 and the price fluctuated in this range throughout the day.Shares ended Friday 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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