NEW YORK (TheStreet) -- Biogen (BIIB) - Get Report shares are slumping by 2.42% to $266.66 on Thursday afternoon, as U.S. biotech stocks dive 4%. 

Overall, pharmaceutical futures were down following Novartis (NVS)'s and Celgene Corp. (CELG)'s disappointing quarterly earnings yesterday and earlier this morning, respectively. 

However, Biogen on Wednesday reported robust fourth quarter fiscal 2015 earnings before the market opened. 

Earnings came in at $4.50 a share, rising 10% year-over-year and topping analysts' forecasts of $4.07 a share. Revenue of $2.83 billion also beat projections of $2.71 billion.

Immediately following these results, Jim Cramer in a new Action Alerts PLUS post said that Biogen's multiple schlerosis (MS) drug TECFIDERA, saw "blockbuster" sales. As of yesterday the company makes up around 4.25% of the charitable trust's portfolio.

Looking ahead, the company expects 2016 revenue to be between the range of $11.1 billion and $11.3 billion. 

TheStreet'sChris Versace and Bob Lang of Trifecta Stocks have identified Biogen as the "Chart of the Day." Here is what Versace and Lang had to say about the company:

As the market reversed hard yesterday on big volume post Fed meeting, we saw a few names holding gains. Biogen, which reported stellar earnings in the morning, gapped up and raced higher all day long, but faded with the market toward the end of the day with other collapsing equities.

When nobody wants to hold stocks, they sell everything. Period. However, we could see some light at the end of the tunnel on this one, as the heavy volume occurred early in the day when the buyers were interested.

RS pushed higher and the low seen in October was nearly touched. We see resistance here at the gap ($293) but that could be a good target here in the short term. Moreover, we could see this entire chart flip bullish over the next couple of weeks, if this current price holds.

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Chris Versace and Bob Lang "Chart of the Day: Biogen" originally published on 1/28/16 on Trifecta Stocks.

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Separately, TheStreet Ratings currently has a "Buy" rating on the stock with a ratings score of B. 

Biogen has improved earnings per share by 14.6% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. It appears that this trend should continue. 

Other strengths such as its growth in earnings per share, increase in net income, and revenue growth should outweigh the fact that the company shows weak operating cash flow. 

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: BIIB