Alliancebernstein LP Has Lifted Its Position in Biogen INC (BIIB) by $88.87 Million as Shares Declined

Biogen Inc. (NASDAQ:BIIB) LogoInvestors sentiment decreased to 1.01 in Q3 2018. Its down 0.01, from 1.02 in 2018Q2. It is negative, as 45 investors sold BIIB shares while 334 reduced holdings. 138 funds opened positions while 243 raised stakes. 167.21 million shares or 1.69% less from 170.10 million shares in 2018Q2 were reported. Smith Asset Mngmt Lp stated it has 0.87% in Biogen Inc. (NASDAQ:BIIB). Stearns Fincl Services Grp stated it has 0.06% in Biogen Inc. (NASDAQ:BIIB). Savant Capital Llc reported 922 shares. Bluecrest has invested 0.2% of its portfolio in Biogen Inc. (NASDAQ:BIIB). Mariner Ltd, Kansas-based fund reported 3,141 shares. 3,200 are held by Supplemental Annuity Collective Of Nj. Churchill Mgmt invested 0.06% of its portfolio in Biogen Inc. (NASDAQ:BIIB). Alabama-based Andra Ap has invested 0.3% in Biogen Inc. (NASDAQ:BIIB). Cibc accumulated 0.18% or 60,565 shares. 692 are held by Royal Fincl Bank Of Scotland Pcl. Spears Abacus Advisors Ltd Liability owns 5,391 shares. The Colorado-based Ghp Inv Advisors has invested 0.06% in Biogen Inc. (NASDAQ:BIIB). D E Shaw Communications holds 443,831 shares or 0.19% of its portfolio. Systematic Fincl Management LP holds 0.05% of its portfolio in Biogen Inc. (NASDAQ:BIIB) for 6,311 shares. Summit Financial Wealth Advsrs Limited Com holds 0.06% or 640 shares.

Since September 26, 2018, it had 0 insider buys, and 1 sale for $350,000 activity.

Alliancebernstein Lp increased its stake in Biogen Inc (BIIB) by 11.81% based on its latest 2018Q3 regulatory filing with the SEC. Alliancebernstein Lp bought 283,918 shares as the company’s stock declined 6.12% with the market. The hedge fund held 2.69 million shares of the biological products (no diagnostic substances) company at the end of 2018Q3, valued at $841.56 million, up from 2.40 million at the end of the previous reported quarter. Alliancebernstein Lp who had been investing in Biogen Inc for a number of months, seems to be bullish on the $66.21 billion market cap company. The stock decreased 1.38% or $4.61 during the last trading session, reaching $328.6. About 180,384 shares traded. Biogen Inc. (NASDAQ:BIIB) has declined 0.04% since January 14, 2018 and is downtrending. It has underperformed by 0.04% the S&P500.

Alliancebernstein Lp, which manages about $133.51B US Long portfolio, decreased its stake in Medtronic Plc (NYSE:MDT) by 988,842 shares to 5.08M shares, valued at $395.17 million in 2018Q3, according to the filing. It also reduced its holding in Vanguard Intl Equity Index F (VNQI) by 308,076 shares in the quarter, leaving it with 1.83M shares, and cut its stake in Hewlett Packard Enterprise C.

More notable recent Biogen Inc. (NASDAQ:BIIB) news were published by: Nasdaq.com which released: “Biogen and C4 Therapeutics Enter into Strategic Collaboration to Discover and Develop Potential New Treatments for Neurological Conditions – Nasdaq” on January 04, 2019, also Streetinsider.com with their article: “Biogen (BIIB) Applauds Quebec Decision to Cover SPINRAZA for broad population of SMA Patients – StreetInsider.com” published on December 20, 2018, Nasdaq.com published: “Noteworthy Tuesday Option Activity: BA, BIIB, BHF – Nasdaq” on December 18, 2018. More interesting news about Biogen Inc. (NASDAQ:BIIB) were released by: Nasdaq.com and their article: “Alkermes, Biogen Submit NDA to FDA for Multiple Sclerosis Drug – Nasdaq” published on December 18, 2018 as well as Streetinsider.com‘s news article titled: “Biogen (BIIB) PT Lowered to $372 at Oppenheimer – StreetInsider.com” with publication date: December 18, 2018.

Biogen Inc. (NASDAQ:BIIB) Ratings Coverage

Among 10 analysts covering Biogen (NASDAQ:BIIB), 7 have Buy rating, 0 Sell and 3 Hold. Therefore 70% are positive. Biogen had 11 analyst reports since July 23, 2018 according to SRatingsIntel. As per Thursday, July 26, the company rating was maintained by UBS. The stock has “Buy” rating by Stifel Nicolaus on Tuesday, August 7. On Wednesday, October 24 the stock rating was maintained by JP Morgan with “Overweight”. The firm has “Overweight” rating by Cantor Fitzgerald given on Monday, October 1. Robert W. Baird maintained Biogen Inc. (NASDAQ:BIIB) on Wednesday, July 25 with “Neutral” rating. The firm has “Buy” rating by Canaccord Genuity given on Monday, July 23. The company was maintained on Wednesday, July 25 by Morgan Stanley. The firm has “Equal-Weight” rating by Barclays Capital given on Wednesday, July 25. On Friday, October 19 the stock rating was downgraded by Bernstein to “Market Perform”. The rating was maintained by Morgan Stanley on Wednesday, December 19 with “Overweight”.

Biogen Inc. (NASDAQ:BIIB) Ratings Chart

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