$BIIB Stock Rises 9.8% – Tale of the Tape

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Biotech Stocks

Biogen Idec (BIIB) Worth Watching: Stock Rises 9.8% – Tale of the Tape

Biogen Idec Inc. (BIIB) was a big mover last session with shares rising nearly 10% on the day. The upside was owing to the company’s announcement of positive data from the pre-specified interim analysis of PRIME – the Phase 1b study of aducanumab (BIIB037) in patients with prodromal or mild Alzheimer’s disease. The development led to far more shares changing hands yesterday than in a normal session. This breaks the recent trend of the company as the stock is now trading above the past one month’s volatile price range of $404.89 to $433.65.

This biotechnology company has seen 2 positive estimate revisions in the last 60 days. The Zacks Consensus Estimate has also moved higher over the same period. This implies solid trading potential for Biogen. So make sure to keep an eye on this stock going forward to see if Friday’s rally can turn into more strength down the road.

Biogen Idec currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.

A better-ranked stock in the Bio-med/Gene sector is Affymetrix Inc. (AFFX) with a Zacks Rank #1 (Strong Buy).

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