Shares of Biogen (BIIB) Sees Large Outflow of Money

Biogen (BIIB): The stock had negative money flow to the tune of ($5.61 million) on Thursday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $18.76 million, whereas, the outflow of money on downticks was $24.37 million and the ratio between the two was 0.77. The block trade had a negative net money flow of ($3.82 million). On the other hand, downticks amounted to $3.82 million of the traded value, which shows distribution in the stock by traders. Biogen (BIIB) closed with marginal gains of 10 cents to end the day at $247.58, an increase of 0.04% over the previous days close. The stock recorded 1.03% for the week.


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.

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