Biogen (BIIB) : Thursdays money flow data in Biogen (BIIB) suggests that the bulls made the most of the weakness in the stock. The inflow of money into the stock on upticks was $78.75 million, whereas, $74.78 million worth of transactions were done on downticks. The ratio between the two, uptick and downtick stood at 1.05, in favor of the bulls. The total money flow into the stock was $3.97 million clearly indicating that the smart money has been buying into the stock on weakness.
In comparison, the money flow in block deals was $10.53 million. The total value of block trades done on upticks was $14.35 million. The value of bearish trades on downticks was only $3.82 million.The up/down ratio in the block trades was a healthy 3.76 in favor of the bulls, suggesting strong buying in the stock by large traders. Biogen (BIIB) fell $0.24 and traded at $247.24, down -0.1% for the day, over previous days close. On a weekly basis, the shares are 0.89% over the previous weeks close.
Biogen (BIIB) : The most positive equity analysts on Biogen (BIIB) expects the shares to touch $450, whereas, the least positive believes that the stock will trade at $268 in the short term. The company is covered by 15 Wall Street Brokerage Firms. The average price target for shares are $354.8 with an expected fluctuation of $50.9 from the mean. The stock has recorded a 20-day Moving Average of 3.09% and the 50-Day Moving Average is 4.8%.
Biogen (NASDAQ:BIIB): The stock opened at $247.24 on Thursday but the bulls could not build on the opening and the stock topped out at $249.66 for the day. The stock traded down to $245.22 during the day, due to lack of any buying support eventually closed down at $247.27 with a loss of -0.08% for the day. The stock had closed at $247.48 on the previous day. The total traded volume was 1,140,351 shares.
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.