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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 lower today making it today's featured Drugs laggard. The industry as a whole closed the day down 3.1%. By the end of trading, Biogen Idec fell $5.72 (-1.9%) to $297.88 on average volume. Throughout the day, 1,479,431 shares of Biogen Idec exchanged hands as compared to its average daily volume of 1,278,400 shares. The stock ranged in price between $292.53-$303.86 after having opened the day at $303.61 as compared to the previous trading day's close of $303.60. Other companies within the Drugs industry that declined today were: Star Scientific ( STSI), down 23.0%, Cell Therapeutics ( CTIC), down 16.5%, Biocryst Pharmaceuticals ( BCRX), down 15.4% and Geron Corporation ( GERN), down 15.3%. 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 $74.4 billion and is part of the health care sector. The company has a P/E ratio of 44.2, above the S&P 500 P/E ratio of 17.7. Shares are up 8.6% year to date as of the close of trading on Friday. Currently there are 14 analysts that rate Biogen Idec a buy, no analysts rate it a sell, and 6 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 robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.
