Biogen Idec Rises On Unusually High Volume (BIIB)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Biogen Idec (Nasdaq: BIIB) is trading at unusually high volume Thursday with 2.9 million shares changing hands. It is currently at two times its average daily volume and trading up $8.55 (+4.7%) at $191.23 as of 2:51 p.m. ET.

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Biogen Idec has a market cap of $41.85 billion and is part of the health care sector and drugs industry. Shares are up 21% year to date as of the close of trading on Wednesday.

Biogen Idec Inc. discovers, develops, manufactures, and markets therapies for the treatment of neurodegenerative diseases, hemophilia, and autoimmune disorders in the United States and internationally. The company has a P/E ratio of 30.7, above the S&P 500 P/E ratio of 17.7.

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, solid stock price performance, good cash flow from operations and growth in earnings per share. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Biogen Idec Ratings Report.

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