BIIB Stock Gets Boost on Promising Drug Data

88% of children treated with the drug were able to walk unassisted in long-term studies

Digital Content Manager
Jul 1, 2019 at 10:23 AM
facebook X logo linkedin

The shares of Biogen Inc (NASDAQ:BIIB) are up 0.9% at $236 after the firm said its spinal muscular atrophy treatment Spinraza was well tolerated in patients with the disease, with many seeing "unprecedented" motor milestones. The study also reported that 100% of children who participated were able to sit without assistance and 88% were able to walk. 

BIIB has taken a serious beating on the charts since suffering a massive bear gap in March. The stock hit a two-year bottom of $216.12 on March 25, but has since managed to consolidate atop the $220 level. The equity is still down 21% year-to-date, however. 

Analysts have been cautious on the stock, with 17 of the 24 considering it a "hold." Plus, the consensus 12-month target price of $252.81 is only at an 8.1% premium to current levels. Should some of these gains hold, however, a round of upgrades could put even more wind at BIIB's back. 

Options bulls, on the other hand, have been slightly more hopeful. BIIB sports a 10-day call/put volume ratio of 2.46 on the International Securities Exchange (ISE), Chicago Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX). This ratio sits in the 86th percentile of its annual range, which indicates a much healthier appetite for calls over puts of late. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI