Biogen Idec ( BIIB) pushed the Drugs industry higher today making it today's featured drugs winner. The industry as a whole closed the day down 0.2%. By the end of trading, Biogen Idec rose $6.39 (3.1%) to $215.20 on heavy volume. Throughout the day, 2,830,029 shares of Biogen Idec exchanged hands as compared to its average daily volume of 1,505,000 shares. The stock ranged in a price between $215.13-$224.63 after having opened the day at $221.68 as compared to the previous trading day's close of $208.81. Other companies within the Drugs industry that increased today were: Halozyme Therapeutics ( HALO), up 24.8%, Enzon Pharmaceuticals ( ENZN), up 15.6%, Ventrus Biosciences ( VTUS), up 14.8% and StemCells ( STEM), up 14.6%.
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. Biogen Idec has a market cap of $49.5 billion and is part of the health care sector. The company has a P/E ratio of 33.1, above the S&P 500 P/E ratio of 17.7. Shares are up 42.4% year to date as of the close of trading on Thursday. Currently there are 12 analysts that rate Biogen Idec a buy, no analysts rate it a sell, and 9 rate it a hold. TheStreet Ratings rates Biogen Idec as a buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow.