Biogen Inc (NASDAQ:BIIB) traded in a range yesterday that spanned from a low of $289.12 to a high of $296.25. Yesterday, the shares gained 28.5%, which took the trading range above the 3-day high of $294.92 on volume of 627,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Biogen Inc (NASDAQ:BIIB) traded in a range yesterday that spanned from a low of $289.12 to a high of $296.25. Yesterday, the shares gained 28.5%, which took the trading range above the 3-day high of $294.92 on volume of 627,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Alkermes plc (Nasdaq: ALKS) today announced the receipt of a $150 million milestone payment from Biogen triggered by the recent U.S. Food and Drug Administration (FDA) approval of VUMERITY(TM) (diroximel fumarate), a novel oral fumarate with a distinct chemical structure, for the treatment of relapsing forms of multiple sclerosis, and Alkermes' transfer to Biogen Inc. (Nasdaq: BIIB) of the New Drug Application and other regulatory documentation related to VUMERITY.