Ownership Action Report: Biogen Idec Inc (NASDAQ:BIIB) Institutional Investor Positioning

November 24, 2016 - By Nellie Frank   ·   0 Comments

Ownership Action Report: Biogen Idec Inc (NASDAQ:BIIB) Institutional Investor Positioning

Sentiment for Biogen Idec Inc (NASDAQ:BIIB)

Biogen Idec Inc (NASDAQ:BIIB) institutional sentiment decreased to 1 in 2016 Q2. Its down -0.03, from 1.03 in 2016Q1. The ratio has dropped, as 390 investment professionals opened new and increased equity positions, while 377 trimmed and sold stakes in Biogen Idec Inc. The investment professionals in our partner’s database now hold: 183.84 million shares, down from 200.84 million shares in 2016Q1. Also, the number of investment professionals holding Biogen Idec Inc in their top 10 equity positions increased from 28 to 34 for an increase of 6. Sold All: 77 Reduced: 300 Increased: 307 New Position: 83.

Biogen Inc., formerly Biogen Idec Inc., is a biopharmaceutical company. The company has a market cap of $66.52 billion. The Firm operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. It has a 17.3 P/E ratio. The Firm markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis , ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

The stock decreased 3.83% or $12.18 on November 23, hitting $305.93. About 5.38 million shares traded hands or 234.16% up from the average. Biogen Inc (NASDAQ:BIIB) has risen 8.22% since April 22, 2016 and is uptrending. It has outperformed by 2.81% the S&P500.

Analysts await Biogen Inc (NASDAQ:BIIB) to report earnings on January, 25. They expect $5.01 EPS, up 11.33% or $0.51 from last year’s $4.5 per share. BIIB’s profit will be $1.09B for 15.27 P/E if the $5.01 EPS becomes a reality. After $5.19 actual EPS reported by Biogen Inc for the previous quarter, Wall Street now forecasts -3.47% negative EPS growth.

According to Zacks Investment Research, “Biogen is a leading biopharmaceutical company engaged in the research, development and marketing of targeted therapies for the treatment of cancer, autoimmune and inflammatory diseases. The company owns industry leading brands for the treatment of multiple sclerosis, next-generation treatments for hemophilia, and a deep clinical pipeline ranging from Alzheimer’s disease, lupus nephritis to neuropathic pain.”

Sarissa Capital Management Lp holds 21.28% of its portfolio in Biogen Inc for 310,000 shares. Sio Capital Management Llc owns 61,000 shares or 7.54% of their US portfolio. Moreover, Terril Brothers Inc. has 7.01% invested in the company for 65,573 shares. The California-based Blue Jay Capital Management Llc has invested 6.35% in the stock. Healthcor Management L.P., a New York-based fund reported 475,000 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 6 selling transactions for $10.26 million net activity.

Biogen Inc (NASDAQ:BIIB) Ratings Coverage

Ratings analysis reveals 72% of Biogen Idec Inc.’s analysts are positive. Out of 18 Wall Street analysts rating Biogen Idec Inc., 13 give it “Buy”, 0 “Sell” rating, while 5 recommend “Hold”. The lowest target is $268 while the high is $450. The stock’s average target of $356.20 is 16.43% above today’s ($305.93) share price. BIIB was included in 34 notes of analysts from July 23, 2015. Morgan Stanley maintained the stock with “Overweight” rating in Wednesday, August 17 report. Bernstein upgraded Biogen Inc (NASDAQ:BIIB) rating on Monday, July 27. Bernstein has “Outperform” rating and $385 price target. The company was upgraded on Monday, November 7 by Leerink Swann. On Tuesday, June 7 the stock rating was downgraded by Citigroup to “Neutral”. The rating was maintained by Cowen & Co with “Buy” on Tuesday, August 25. Atlantic Securities initiated it with “Overweight” rating and $344 target price in Friday, December 18 report. Jefferies downgraded Biogen Inc (NASDAQ:BIIB) on Tuesday, September 6 to “Hold” rating. The firm earned “Overweight” rating on Monday, November 7 by PiperJaffray. The stock of Biogen Inc (NASDAQ:BIIB) earned “Buy” rating by Standpoint Research on Thursday, January 7. H.C. Wainwright initiated it with “Buy” rating and $380 target price in Tuesday, August 11 report.

BIIB Company Profile

Biogen Inc., formerly Biogen Idec Inc., incorporated on April 1, 1997, is a biopharmaceutical company. The Firm operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Firm markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis. The Firm also has a collaboration agreement with Genentech, Inc. (Genentech), a member of the Roche Group, with respect to RITUXAN for the treatment of non-Hodgkin’s lymphoma, chronic lymphocytic leukemia (CLL) and other conditions, GAZYVA indicated for the treatment of CLL and follicular lymphoma, and other potential anti-CD20 therapies.

More notable recent Biogen Inc (NASDAQ:BIIB) news were published by: Profitconfidential.com which released: “Biogen Inc: What This Selloff Means for BIIB Stock” on November 23, 2016, also Fool.com with their article: “Better Buy: Biogen Inc. vs. Celgene Corporation” published on November 15, 2016, Fool.com published: “Why Biogen Inc. Stock Lost 10.5% of Its Value In October” on November 09, 2016. More interesting news about Biogen Inc (NASDAQ:BIIB) were released by: Schaeffersresearch.com and their article: “Buzz Stocks: Juno Therapeutics Inc, Eli Lilly and Co, and Biogen Inc” published on November 23, 2016 as well as Fool.com‘s news article titled: “Biogen Inc. Working With What It’s Got as It Looks to Diversify” with publication date: October 27, 2016.

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By Nellie Frank


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