Biogen (BIIB) : Traders are bullish on Biogen (BIIB) as it has outperformed the S&P 500 by a wide margin of 4.7% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.06%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.58% in the last 1 week, and is up 9.27% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 7.79% and the 50-Day Moving Average is 1.44%.
Biogen (NASDAQ:BIIB): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $254.12 and $253.81 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $260.45. The buying momentum continued till the end and the stock did not give up its gains. It closed at $260.30, notching a gain of 2.94% for the day. The total traded volume was 2,404,882 . The stock had closed at $252.87 on the previous day.
The company Insiders own 0.32% of Biogen shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -9.32% . Institutional Investors own 92.86% of Biogen shares. During last six month period, the net percent change held by insiders has seen a change of -7.26%. 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.