Biogen Idec Inc (BIIB): Today's Featured Drugs Winner

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 0.7%. By the end of trading, Biogen Idec rose $4.86 (2.1%) to $239.57 on average volume. Throughout the day, 1,037,618 shares of Biogen Idec exchanged hands as compared to its average daily volume of 1,269,500 shares. The stock ranged in a price between $236.31-$240.38 after having opened the day at $238.03 as compared to the previous trading day's close of $234.71. Other companies within the Drugs industry that increased today were: Omeros Corporation ( OMER), up 68.2%, GW Pharmaceuticals PLC ADR ( GWPH), up 56.7%, Mirati Therapeutics ( MRTX), up 37.1% and NovaBay Pharmaceuticals ( NBY), up 24.6%.

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 $55.6 billion and is part of the health care sector. Shares are up 59.9% year to date as of the close of trading on Friday. Currently there are 12 analysts that rate Biogen Idec a buy, no analysts rate it a sell, and 8 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, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.

On the negative front, Transcept Pharmaceuticals ( TSPT), down 12.2%, Neostem ( NBS), down 10.6%, Progenics Pharmaceuticals ( PGNX), down 9.9% and Imprimis Pharmaceuticals ( IMMY), down 9.8% , were all laggards within the drugs industry with Novartis ( NVS) being today's drugs industry laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the drugs industry could consider SPDR S&P Pharmaceuticals ETF ( XPH) while those bearish on the drugs industry could consider ProShares UltraShort Nasdaq Biotech ( BIS).

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