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Does the Market Like Biogen Inc (BIIB) Stock After it Is Up 5.38% in a Week?

Wednesday, July 08, 2020 11:08 AM | InvestorsObserver Analysts

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Does the Market Like Biogen Inc (BIIB) Stock After it Is Up 5.38% in a Week?

The market has been high on Biogen Inc (BIIB) stock recently. BIIB gets a Bullish score from InvestorsObserver's Stock Sentiment Indicator.

Sentiment Score - ,bullish
Biogen Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on BIIB!

What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.

As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.

Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.

InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.

Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With BIIB Stock Today?

Biogen Inc (BIIB) stock is trading at $281.94 as of 10:50 AM on Wednesday, Jul 8, an increase of $13.59, or 5.06% from the previous closing price of $268.35. The stock has traded between $280.15 and $294.99 so far today. Volume today is 1,526,217 compared to average volume of 1,888,990.

To screen for more stocks like Biogen Inc click here.

More About Biogen Inc

Biogen and Idec merged in 2003, combining forces to market Biogen's multiple sclerosis drug Avonex and Idec's cancer drug Rituxan. Today, Rituxan and next-generation antibody Gazyva are marketed via a collaboration with Roche. Biogen also markets novel MS drugs Plegridy, Tysabri, Tecfidera, and Vumerity. In Japan, Biogen's MS portfolio is co-promoted by Eisai. Hemophilia therapies Eloctate and Alprolix (partnered with SOBI) were spun off as part of Bioverativ in 2017. Biogen has several drug candidates in phase 3 trials in neurology and neurodegenerative diseases and has launched Spinraza with partner Ionis.

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