Financial giants have made a conspicuous bearish move on Biogen. Our analysis of options history for Biogen BIIB revealed 8 unusual trades.
Delving into the details, we found 37% of traders were bullish, while 62% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $269,862, and 2 were calls, valued at $200,763.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $185.0 to $210.0 for Biogen during the past quarter.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for Biogen options trades today is 95.5 with a total volume of 647.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Biogen's big money trades within a strike price range of $185.0 to $210.0 over the last 30 days.
Biogen Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BIIB | CALL | SWEEP | NEUTRAL | 01/17/25 | $23.2 | $20.3 | $21.8 | $210.00 | $135.1K | 7 | 88 |
| BIIB | CALL | SWEEP | BEARISH | 01/17/25 | $20.6 | $20.5 | $20.5 | $210.00 | $65.6K | 7 | 172 |
| BIIB | PUT | SWEEP | BEARISH | 10/18/24 | $15.7 | $15.4 | $15.7 | $200.00 | $62.8K | 160 | 0 |
| BIIB | PUT | SWEEP | BULLISH | 01/16/26 | $29.9 | $24.3 | $26.0 | $200.00 | $57.2K | 23 | 214 |
| BIIB | PUT | SWEEP | BULLISH | 01/16/26 | $27.9 | $22.1 | $25.6 | $200.00 | $53.7K | 23 | 17 |
About Biogen
Biogen and Idec merged in 2003, combining forces to market Biogen's multiple sclerosis drug Avonex and Idec's cancer drug Rituxan. Today, Rituxan and next-generation antibody Gazyva are marketed via a collaboration with Roche. Biogen also markets novel multiple sclerosis drugs Plegridy, Tysabri, Tecfidera, and Vumerity. In Japan, Biogen's MS portfolio is copromoted by Eisai. Hemophilia therapies Eloctate and Alprolix (partnered with Sobi) were spun off as part of Bioverativ in 2017. Biogen's newer products include Spinraza (SMA, with partner Ionis), Leqembi (Alzheimers, with partner Eisai), Skyclarys (Friedreich's Ataxia, Reata), Zurzuvae (post-partum depression, Sage), and Qalsody (ALS, Ionis). Biogen has several drug candidates in phase 3 trials in neurology-related fields.
In light of the recent options history for Biogen, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of Biogen
- Trading volume stands at 611,364, with BIIB's price down by -1.97%, positioned at $199.66.
- RSI indicators show the stock to be may be oversold.
- Earnings announcement expected in 11 days.
What Analysts Are Saying About Biogen
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $263.75.
- An analyst from JP Morgan has decided to maintain their Neutral rating on Biogen, which currently sits at a price target of $240.
- In a cautious move, an analyst from Truist Securities downgraded its rating to Buy, setting a price target of $340.
- Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Biogen with a target price of $215.
- Maintaining their stance, an analyst from B of A Securities continues to hold a Neutral rating for Biogen, targeting a price of $260.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Biogen, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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