Biogen (BIIB) : Investors lapped up stocks on upticks to the tune of $10.93 million in the Wednesdays trading session. The trading value on downticks was comparatively at $7.67 million and the uptick to downtick ratio of 1.42 indicates continuous buying by the bulls. The net money flow into the stock was $3.26 million. Upticks saw transactions worth $3.69 clearly indicating buying by large investors. The total money flow for block trades stood at $3.69 million, which is a positive for the stock in the long-term. Biogen (BIIB) fell $1.82 during the day at $258, a drop of -0.7% over the previous days close. However, for the week, the stock is -0.88%, compared to the previous week.
Also, Bernstein initiates coverage on Biogen (NASDAQ:BIIB) The shares have been rated Outperform. The rating by the firm was issued on June 29, 2016.
Biogen (NASDAQ:BIIB): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $259.87 and $257.57 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $263.16. The buying momentum continued till the end and the stock did not give up its gains. It closed at $262.41, notching a gain of 1.00% for the day. The total traded volume was 1,830,168 . The stock had closed at $259.82 on the previous day.
The stock has recorded a 20-day Moving Average of 7.24% and the 50-Day Moving Average is 2.34%. In a related news, The officer (EVP, Strategy and Bus. Dev.), of Biogen Inc., Koppel Adam had unloaded 555 shares at $290 per share in a transaction on June 6, 2016. The total value of transaction was $160,950. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Biogen Inc., formerly Biogen Idec Inc., is a global biopharmaceutical company. The Company is focused on discovering, developing, manufacturing and delivering therapies for neurological, autoimmune and hematologic disorders. The Company develops, manufactures and markets products designed for the treatment of multiple sclerosis (MS) and hemophilia A and B. The Companys marketed products include AVONEX, PLEGRIDY, TECFIDERA, TYSABRI, FAMPYRA for multiple sclerosis (MS), ALPROLIX for hemophilia B, and ELOCTATE for hemophilia A, among others. It also collaborates on the development and commercialization of RITUXAN (rituximab), which is a monoclonal antibody for the treatment of non-Hodgkins lymphoma, chronic lymphocytic leukemia and other conditions and share profits and losses for GAZYVA, which is for the treatment of chronic lymphocytic leukemia.