Shares of Biogen Idec (NASDAQ:BIIB) have bearishly opened below the pivot of $151.24 today and have reached the first support level of $150.54. Analysts will be watching for a cross of the next downside pivot targets of $149.86 and $148.48.
Biogen Idec Inc. develops, manufactures, and commercializes therapies, focusing on neurology, oncology, and immunology. The Company's products addresses diseases such as multiple sclerosis, non-Hodgkin's lymphoma, rheumatoid arthritis, crohn's disease, and psoriasis.
In the past 52 weeks, shares of Biogen Idec have traded between a low of $109.22 and a high of $157.18 and are now at $150.04, which is 37% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 0.2%.
There is potential upside of 6.5% for shares of Biogen Idec based on a current price of $150.04 and an average consensus analyst price target of $159.85. The stock should discover initial support at its 50-day moving average (MA) of $146.45 and subsequent support at its 200-day MA of $139.67.