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BIOGEN INC. DL -,0005BIOGEN INC. DL -,0005BIOGEN INC. DL -,0005

BIOGEN INC. DL -,0005

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BIIB Long, Coming Soon!The price has sold off from the $207.59 pivot level, dropping to $193.84 as of the Monday, September 30th close. The sharp decline from $200 to $190 over two days last week was largely due to sector-wide weakness, as reflected in the IBB (Biotech ETF). Since then, both the ETF and BIIB have been consolidating, showing signs of stabilization. Buyers have begun to step in, especially noticeable on the 65-minute chart. Following the rapid sell-off, the price bounced higher, testing the $193.65 resistance level, which corresponds to a monthly pivot. Although price initially failed to close above this level, the next day saw a gap up, with price holding above the resistance. Yesterday, the stock consolidated tightly throughout the day, indicating some strength. While there isn’t a definitive daily technical setup to warrant immediate conviction, the stock looks promising for a potential long swing trade in the coming days, particularly based on the oversold condition and technical recovery. Keep an eye on how the price action evolves for a better entry signal.
NASDAQ:BIIBLong
by thinkCNE
Biogen Stock Surge 4.85% on Approval For ALS DrugBiogen ( NASDAQ:BIIB ) has received a significant boost with the Food and Drug Administration's accelerated approval for Qalsody, a drug aimed at treating ALS, a debilitating muscle-wasting disease. While the approval marks a significant milestone in Biogen's efforts to address critical medical needs, the company faces challenges amidst concerns over its earnings quality and ongoing transformations under new leadership. Hope Amidst Challenges: The FDA's accelerated approval for Qalsody represents a beacon of hope for ALS patients, offering a potential treatment for a devastating disease with limited therapeutic options. Biogen's collaboration with Ionis Pharmaceuticals underscores the importance of innovative partnerships in advancing medical research and addressing unmet medical needs. However, despite this positive development, Biogen's stock performance remains under pressure amidst broader market uncertainties and investor concerns. Earnings Quality Debate: Biogen's recent earnings report, while beating expectations, has sparked debate over the quality of its earnings performance. Analysts have raised questions about the sustainability of Biogen's growth trajectory under new CEO Christopher Viehbacher, citing ongoing transformations and challenges in key therapeutic areas. The company's stock reaction to the earnings beat reflects investor caution and underscores the need for clarity regarding Biogen's long-term strategic direction. Strategic Initiatives and Pipeline Potential: Biogen's strategic initiatives, including its Alzheimer's and depression treatment efforts, holds significant potential to drive future growth. The accelerated approval of Leqembi for Alzheimer's and the optimism surrounding zuranolone for depression underscore Biogen's commitment to addressing critical neurological disorders. However, challenges persist, particularly in the multiple sclerosis franchise, where competition and generic alternatives continue to impact sales. Navigating Market Dynamics: Biogen's resilience amidst market challenges hinges on its ability to effectively execute strategic initiatives, manage portfolio dynamics, and capitalize on emerging opportunities. The company's reaffirmed outlook for full-year sales, despite headwinds in certain therapeutic areas, reflects confidence in its pipeline potential and strategic resilience. As Biogen ( NASDAQ:BIIB ) charts its course forward, investor sentiment will likely be influenced by developments in key therapeutic programs, regulatory decisions, and market dynamics.
NASDAQ:BIIBLong
by DEXWireNews
BIIB earningsBiogen (BIIB) earnings are on Wednesday, July 19th, 2023, at 7:15am. Biogen (BIIB) reported Q1 March 2023 earnings of 3.40 per share on revenue of 2.5 billion. The consensus earnings estimate was 3.25 per share on revenue of 2.4 billion. The company said it continues to expect 2023 earnings of 15.00 to 16.00 per share. The current consensus earnings estimate is 15.47 per share for the year ending December 31, 2023. Q2 June 2023 Consensus: EPS = 3.70 Revenue = 2.38 B PE = 12.7 100SMA = 290 200SMA = 279 BIIB 1 day (24hr ext.) chart TTCATR 20VWMA levels: R3 = 317 R2 = 309 R1 = 302 pivot = 294 S1 = 286 S2 = 279 S3 = 271 Options data: 7/14 expiry Put Volume Total 723 Call Volume Total 2,716 Put/Call Volume Ratio 0.27 Put Open Interest Total 257 Call Open Interest Total 1,277 Put/Call Open Interest Ratio 0.20 7/21 expiry Put Volume Total 602 Call Volume Total 2,380 Put/Call Volume Ratio 0.25 Put Open Interest Total 5,614 Call Open Interest Total 10,199 Put/Call Open Interest Ratio 0.55 8/18 expiry Put Volume Total 206 Call Volume Total 726 Put/Call Volume Ratio 0.28 Put Open Interest Total 436 Call Open Interest Total 795 Put/Call Open Interest Ratio 0.55
NASDAQ:BIIBLong
by Options360
Alzheimer's drug, from $BIIB and EisaiAccording to MarketWatch, The FDA approved the Alzheimer's drug Legembi from Eisai and Biogen A quick look at the daily charts for $BIIB shows that it's already trading on or above major moving averages (ie. 9,21,50 SMA's). Also, seeing as this is a nice, green day for the SPY and BIIB has been beaten down recently, it's a nice long option for medium term traders and investors in general. If I were to go long, a nice R:R profit target would be the top of the Bollinger bands with a stop loss below the "fast" moving average in use. Good luck.
NASDAQ:BIIBLong
by Razak_Yorou