U.S. approves Biogen's Alzheimer's drug

June 08, 2021 15:00

During yesterday's session, the US pharmaceutical company based in Massachusetts, Biogen,  experienced a strong rebound in the stock market after the Food and Drug Administration (FDA) approved the use of its Alzheimer's drug known as Aduhelm.

It represents the first approval by this regulator in the last 20 years against this disease, which gives a very positive outlook for the future of this drug, which attempts to address cognitive decline.

This news received a positive reception from investors, as the price rose sharply yesterday, climbing by more than 38%. In an environment of great volatility, the company marked a daily high of $468.20 per share after opening at $294.91. At the moment, the pre-opening in today's session is marked by a slight rise.

Technically speaking, we can see how after this news the price not only exceeded the side range marked by the red and green stripes, but also exceeded several resistance levels and previous highs. Consequently, we must be very attentive to whether the price is able to maintain these levels, since we cannot rule out a correction framed in a profit collection.

Source: Admiral Markets MetaTrader 5. Biogen's daily chart  . Data range: September 5, 2018 to June 8, 2021. Prepared on June 8, 2021 at 12:25 p.m. CEST. Please note that past returns do not guarantee future returns.

 

Evolution in the last 5 years:

  • 2020: -17,48%
  • 2019: -1,39%
  • 2018: -5,54%
  • 2017: 21,96%
  • 2016: -7,43%

 

With the Admirals Trade.MT5 account, you can trade Contracts for Differences (CFDs) of Biogen and more than 3000 stocks! CFDs allow traders to try to profit from the bull and bear markets, as well as the use of leverage. Click on the following banner to open an account today:

INFORMATION ABOUT ANALYTICAL MATERIALS: 

The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admiral Markets investment firms operating under the Admiral Markets trademark (hereinafter “Admiral Markets”) Before making any investment decisions please pay close attention to the following: 

  1. This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research.
  2. Any investment decision is made by each client alone whereas Admiral Markets shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content.
  3. With view to protecting the interests of our clients and the objectivity of the Analysis, Admiral Markets has established relevant internal procedures for prevention and management of conflicts of interest.
  4. The Analysis is prepared by an independent analyst, Roberto Rojas (analyst), (hereinafter “Author”) based on their personal estimations.
  5. Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admiral Markets does not guarantee the accuracy or completeness of any information contained within the Analysis.
  6. Any kind of past or modeled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admiral Markets for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed.
  7. Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the risks involved.
Avatar-Admirals
Admirals An all-in-one solution for spending, investing, and managing your money

More than a broker, Admirals is a financial hub, offering a wide range of financial products and services. We make it possible to approach personal finance through an all-in-one solution for investing, spending, and managing money.