Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.Biogen Idec ( BIIB) pushed the Drugs industry higher today making it today's featured drugs winner. The industry as a whole closed the day up 0.5%. By the end of trading, Biogen Idec rose $7.56 (3.4%) to $227.76 on average volume. Throughout the day, 1,523,302 shares of Biogen Idec exchanged hands as compared to its average daily volume of 1,482,300 shares. The stock ranged in a price between $220.30-$227.80 after having opened the day at $220.38 as compared to the previous trading day's close of $220.20. Other companies within the Drugs industry that increased today were: Aastrom Biosciences ( ASTM), up 35.6%, CEL-SCI Corporation ( CVM), up 19.2%, Skystar Bio-Pharmaceutical Company ( SKBI), up 17.5% and Alcobra ( ADHD), up 16.7%.
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 $51.8 billion and is part of the health care sector. Shares are up 49.0% 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 revenue growth, impressive record of earnings per share growth, compelling growth in net income, solid stock price performance and expanding profit margins. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.