BIIB Stock Summary and Trading Ideas (Biogen | NASDAQ:BIIB)

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 multiple sclerosis drugs Plegridy, Tysabri, Tecfidera, and Vumerity. In Japan, Biogen's MS portfolio is copromoted by Eisai. Hemophilia therapies Eloctate and Alprolix (partnered with Sobi) were spun off as part of Bioverativ in 2017. Biogen's newer products include Spinraza (SMA, with partner Ionis), Leqembi (Alzheimers, with partner Eisai), Skyclarys (Friedreich's Ataxia, Reata), Zurzuvae (post-partum depression, Sage), and Qalsody (ALS, Ionis). Biogen has several drug candidates in phase 3 trials in neurology-related fields.

Biogen trades on the NASDAQ stock market under the symbol BIIB.

As of April 15, 2024, BIIB stock price declined to $196.80 with 1,107,786 million shares trading.

BIIB has a beta of 0.76, meaning it tends to be less sensitive to market movements. BIIB has a correlation of 0.12 to the broad based SPY ETF.

BIIB has a market cap of $28.61 billion. This is considered a Large Cap stock.

Last quarter Biogen reported $2 billion in Revenue and $2.95 earnings per share. This fell short of revenue expectation by $-79 million and missed earnings estimates by -$.23.

In the last 3 years, BIIB stock traded as high as $468.55 and as low as $187.16.

The top ETF exchange traded funds that BIIB belongs to (by Net Assets): VTI, VOO, QQQ, VO, SPY.

BIIB has underperformed the market in the last year with a price return of -31.1% while the SPY ETF gained +25.3%. BIIB has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -20.7% and -8.7%, respectively, while the SPY returned +6.2% and -3.6%, respectively.

BIIB support price is $195.23 and resistance is $201.13 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BIIB stock will trade within this expected range on the day.