Even before Biogen(BIIB) completed its spinoff of Bioverativ(BIVV), ValueAct Capital began buying “when-issued” stock in the new company. The hedge fund has continued to buy both stock and forward contracts and has now accumulated a 7.1% position in Bioverativ. The shares were purchased at between $40 and $45 per share. As Bioverativ stock has now risen above $50,… Read More »
Last week, Biogen(BIIB) completed its spinoff of Bioverativ(BIVV). The Bioverativ spinoff included Biogen’s hemophilia assets and a $325 million pile of cash. What remains at Biogen is, depending on who you listen to, either poised for great growth, or struggling with it. Barrons reports on two analysts with positive views on Biogen: RBC Capital Markets analyst Michael Yee… Read More »
Bioverativ(BIVV), a drug company focused on hemophilia and other blood disorders, was spun off by Biogen(BIIB) last week. Gabelli & Co initiated Bivoerativ stock as a buy with a value of $58, citing the company’s strong balance sheet(no debt, $325 million in cash), its limited exposure to Medicare, its potential to benefit from corporate tax reform, and its… Read More »
On February 1, Biogen(BIIB) completed the spinoff of its Hemophilia business, Bioverativ(BIVV). Biogen shareholders woke up on February 2 to find one share of Bioverativ in their portfolio for every two shares of Biogen that they had owned. Biogen has had a tumultuous year, with the departure of its longtime CEO George Scangos in January amidst stalling sales. Xconomy’s… Read More »
BioGen (BIIB) has finally chosen a name for its upcoming hemophilia drug focused spinoff. The new company will be called Bioverativ and it will eventually trade on the Nasdaq under the ticker ‘BIVV’. Bioverativ will be a global biotech company ‘focused on the discovery, research, development and commercialization of treatments for hemophilia and other blood disorders.’ It’s growing… Read More »