NEW YORK (TheStreet) -- Biogen (BIIB - Get Report) stock closed up by 5.25% to $279.57 on Wednesday, due to expectations that Allergan (AGN) will pursue new acquisitions after its deal with Pfizer (PFE) was terminated.
The biopharmaceutical company’s stock climbed today due to speculation that the company could be acquired by Allergan, TheStreet’s Action Alerts PLUS Portfolio Manager Jim Cramer wrote in an article today.
However, acquiring Biogen may not be a “sensible” decision for Allergan, he said.
