Is Biogen Idec Inc. (NASDAQ:BIIB) a buy?
In the financial blogosphere, there are a lot of analytical tools for Biogen Idec Inc. (NASDAQ:BIIB) traders to track, but it’s extremely useful to pay attention to a stock’s bullish hedge funds. One path available to us is: (a) the aggregate number of bullish hedge funds that’s bullish on a particular company, plus (b) which specific managers are stockholders.
Augmented fund interest typically indicates what you’d think: the smartest men and women in the room grown more bullish on the stock.
Here at Insider Monkey, it’s no secret that we watch the smart money’s sentiment, but it’s extremely beneficial to parse this data into the best of the best of hedge fund managers. For investors wanting a time-tested piggybacking strategy, discover the details of our premium strategy.
Let us take a gander at the latest data surrounding Biogen Idec Inc. (NASDAQ:BIIB).
Looking at the most recent SEC data, which is reported each quarter, we can discover that Biogen Idec Inc. (NASDAQ:BIIB) sports a select group of funds invested.
According to our 13F database, Renaissance Technologies, managed by Jim Simons, holds the most valuable position in Biogen Idec Inc. (NASDAQ:BIIB). Renaissance Technologies has a $287.8 million position in the stock, comprising 0.8% of its 13F portfolio. Coming in second is Lansdowne Partners, managed by Paul Ruddock and Steve Heinz, which held a $287.1 million position; the fund has 3.6% of its 13F portfolio invested in the stock. Other peers that hold long positions include Samuel Isaly’s OrbiMed Advisors, Andreas Halvorsen’s Viking Global and Phill Gross and Robert Atchinson’s Adage Capital Management.
Also, insider trading activity, especially when it’s bullish, is most useful when the company we’re looking at has seen transactions within the past 180 days. Over the last six-month time frame, Biogen Idec Inc. (NASDAQ:BIIB) has experienced zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll check out the relationship between both of these indicators in other stocks similar to Biogen Idec Inc. (NASDAQ:BIIB). These stocks are Regeneron Pharmaceuticals Inc (NASDAQ:REGN), Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN), Amgen, Inc. (NASDAQ:AMGN), Gilead Sciences, Inc. (NASDAQ:GILD), and Celgene Corporation (NASDAQ:CELG). This group of stocks belong to the biotechnology industry and their market caps are similar to BIIB’s market cap.