Large Outflow of Money Witnessed in Biogen

Biogen (BIIB) : Fridays money flow analysis of Biogen (BIIB) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $142.2 million. In comparison, the inflow of money on upticks was a meager $137.29 million. The dollar value of composite uptick trades minus the downtick trades was negative $4.91 million. The uptick to downtick ratio of 0.97 in the money flow shows weakness. The downtick transaction value was high at $9.92 million, which denotes distribution on strength.. Hence, the net money flow in the stock was negative ($9.92 million). Biogen (BIIB) gained $7.47 at $289.92, a change of 2.65% over the previous days close.


Biogen (BIIB) : 15 investment research analysts covering Biogen (BIIB) have an average price target of $350.93 for the near short term. The highest target price given by the Brokerage Firm to the stock is $450 and the lowest target is $268 for the short term. Analysts expect the variance to be within $52.01 of the average price.

Biogen (NASDAQ:BIIB): stock turned positive on Friday. Though the stock opened at $282.09, the bulls momentum made the stock top out at $290.92 level for the day. The stock recorded a low of $281.3806 and closed the trading day at $287.78, in the green by 1.89%. The total traded volume for the day was 3,394,578. The stock had closed at $282.45 in the previous days trading.

In a related news, The Securities and Exchange Commission has divulged that Scangos George A, director officer (Chief Executive Officer) of Biogen Inc., had unloaded 157 shares at an average price of $280 in a transaction dated on July 21, 2016. The total value of the transaction was worth $43,960.

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.

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