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Actionable news in BIIB: Biogen Idec Inc.,

Biogen Is a Takeover Target but Don't Ignore the Risks

Takeover speculation can be wonderfully curative for a languishing stock price.

Take a look at Biogen (BIIB) , which was underperforming (on a year-to-date basis) every large-cap biotech stock at the end of June, with the exception of Alexion (ALXN) . At Tuesday's close, Biogen was the group's top-performing stock, slightly ahead of Amgen (AMGN) .

Speculation about Biogen being a possible acquisition candidate has been biotech water cooler chatter for...