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 Health Care sector lower today making it today's featured Health Care laggard. The sector as a whole closed the day down 1.6%. By the end of trading, Biogen Idec fell $28.51 (-8.2%) to $318.53 on heavy volume. Throughout the day, 5,380,893 shares of Biogen Idec exchanged hands as compared to its average daily volume of 1,384,400 shares. The stock ranged in price between $313.08-$355.00 after having opened the day at $355.00 as compared to the previous trading day's close of $347.04. Other companies within the Health Care sector that declined today were: China Pharma ( CPHI), down 31.6%, IsoRay ( ISR), down 26.7%, Arrowhead Research Corporation ( ARWR), down 13.1% and Semler Scientific ( SMLR), down 12.7%.
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 $82.7 billion and is part of the drugs industry. Shares are up 24.1% year to date as of the close of trading on Thursday. 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.