Biogen Idec Falling On Unusual Volume (BIIB)

Shares of Biogen Idec

are falling on heavier than usual volume today. The stock has lost 2.62% to $46.88. More than 1.82 million shares have already traded hands in the first two hours of the market session. The average daily volume for BIIB is 3.27 million. Biogen Idec has a market cap of $12.53 billion. The shares are trading at a P/E multiple of 14.20. Over the last 3 months, the shares have been hit hard, falling more than 20%. In the last month alone, BIIB has lost 8.68%. Biogen Idec Inc. (

) is a global biotechnology company.