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NEW YORK (

TheStreet

) --

Biogen Idec

(Nasdaq:

BIIB

) hit a new 52-week high Tuesday as it traded at $69 compared with its previous 52-Week high of $68.99. Biogen Idec is changing hands at $68.97 with 258,703 shares traded as of 10:06 a.m. ET. Average volume has been 1.8 million shares over the past 30 days.

Biogen Idec has a market cap of $16.3 billion and is part of the

health care

sector and

drugs

TheStreet Recommends

industry. Shares are up 2% year to date as of the close of trading on Monday.

Biogen Idec Inc., a biotechnology company, develops, manufactures, and commercializes novel therapeutics in the areas of neurology, oncology, immunology, cardiopulmonary, and hemophilia in the United States and internationally. The company has a P/E ratio of 17.2, equal to the average drugs industry P/E ratio and below the S&P 500 P/E ratio of 21.8.

TheStreet Ratings rates Biogen Idec as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full

Biogen Idec Ratings Report

.

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