NEW YORK (TheStreet) -- Biogen (BIIB) - Get Report stock is up by 0.28% to $282.78 in early afternoon trading on Friday, as shares of the Cambridge, MA-based biopharmaceutical company continue to gain this week.
Shares are up by 7.47% so far this week after Cowen analysts said Biogen could boost prices of three multiple sclerosis treatments, according to CNBC.
These price hikes could lead to an upside to the company's guidance for 2016 because the increases are not currently factored in, CNBC added.
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TheStreet's Chris Versace and Bob Lang have identified Biogen stock as the "Chart of the Day." Here's what they had to say about the company:
We look for the stocks that exhibit solid relative strength, high turnover on the up days and price breakouts. We see Biogen exhibiting all of those qualities, and now it is back up to the upper end of a range.
We spotted the $280 level previously as an area of interest, and after a bit of a dip the stock has recently surged back to $280. We can see the channel is well- defined and the top of it is around 5% above here.
The moving average convergence divergence (MACD) has a fresh new buy signal.
There is a gap to fill around the top end of the channel near $295. It could be a quick move up there.
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