Short Call at News Buzzer: Biogen Inc. (NASDAQ:BIIB), Virtus Global Dividend & Income Fund (NYSE:ZTR)

Biogen Inc. (NASDAQ:BIIB) [Trend Analysis] surged reacts as active mover, shares a gain 0.01% to traded at $291.15 and the percentage gap between open changing to regular change was 0.30%. BiogenInc (NASDAQ: BIIB) said its newly authorized Spinraza (nusinersen) would be accessible in just one week time. Spinraza is authorized to treat spinal muscular atrophy, a form of muscle weakness.

The company, which got the FDA approval within three months of regulatory filing, said Spinraza will be made accessible for shipment in the United States to healthcare providers in approximately one week. The drug was authorized based on positive results from multiple clinical studies in more than 170 patients. The firm’s current ratio calculated as 3.20 for the most recent quarter.

The firm past twelve months price to sales ratio was 5.58 and price to cash ratio remained 14.77. As far as the returns are concern, the return on equity was recorded as 36.00% and return on investment was 23.50% while its return on asset stayed at 18.50%. The firm has total debt to equity ratio measured as 0.54.

Virtus Global Dividend & Income Fund Inc. (NYSE:ZTR) [Trend Analysis] attempts to attain leading position in street, Shares price changes as it 0.08% to close at $12.00 with the total traded volume of 2505 shares. Virtus Global Dividend & Income Fund Inc. (NYSE: ZTR) declared that the Fund’s tender offer for 1,351,195.45 of its issued and outstanding shares of common stock, representing approximately 5 percent of the Fund’s outstanding shares, expired at 11:59 p.m., New York time, on December 23, 2016.

Based upon current information, approximately 7,860,267.00 shares were tendered, including shares tendered pursuant to notices of guaranteed delivery. Based on this preliminary information, the pro-ration for each tendering stockholder is estimated to be 17.1902 percent of the shares properly tendered.

These numbers are subject to adjustment and should not be regarded as final. The actual number of shares to be purchased is anticipated to be declared on January 3, 2017. Payment for such shares will be made on or about January 5, 2017. The purchase price of properly tendered shares is 98 percent of the net asset value per share determined as of the close of the regular trading session of the New York Stock Exchange (NYSE) on December 23, 2016, which is equal to $12.4950 per share. ZTR attains analyst recommendation of 1.00 with week performance of 4.17%.

 

About Aaron Smithies

Aaron Smithies has a wide look on current monetary and financial events. He is an editor and a writer. His views; At Streetwise Report, we think the best opportunities arise from a complete understanding of all investing disciplines in order to identify the most attractive stocks at any given time. Interests: Biotech, Finical markets, Dividend stock ideas & income, Energy stocks, Consumer goods stocks

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