Biogen Inc. shares rose 1.19% to $272.55 Thursday, on what proved to be an all-around grim trading session for the stock market, with the S&P 500 Index SPX falling 0.36% to 4,192.85 and Dow Jones Industrial Average DJIA falling 0.07% to 34,577.04.Biogen Inc. closed $91.37 below its 52-week high ($363.92), which the company achieved on November 4th. The stock outperformed some of its competitors Thursday, as Johnson & Johnson JNJ fell 0.10% to $166.04, Pfizer Inc. PFE rose 0.46% to $38.97, and AbbVie Inc. ABBV rose 0.73% to $112.21.
Biogen Inc trading volume (1.3 M) eclipsed its 50-day average volume of 968,302. This was the stock’s second consecutive day of gains. The U.S. Food and Drug Administration’s decision on Biogen Inc.’s much-anticipated Alzheimer’s drug, the biotech world is holding its breath for what has been described as a make-or-break product for the Cambridge company.
The stock hit a three-year low of $216.71 on March 22, 2019, around the time the company said it would stop developing aducanumab, before rebounding with the news that the company had resurrected the drug. It closed out 2019 at $296.73. Shares closed at $267.15 on Tuesday.