Biogen Inc. (BIIB) Gains But Lags Market: What You Should Know
Biogen Inc. (BIIB) closed at $217.56 in the latest trading session, marking a +0.15% move from the prior day. The stock lagged the S&P 500's daily gain of 0.51%. Elsewhere, the Dow gained 0.2%, while the tech-heavy Nasdaq added 0.58%.
Heading into today, shares of the company had lost 11.53% over the past month, lagging the Medical sector's gain of 2.54% and the S&P 500's gain of 2.94% in that time.
Investors will be eagerly watching for the performance of Biogen Inc. in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $3.47, marking a 2.06% rise compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $2.32 billion, reflecting a 5.66% fall from the equivalent quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $15.48 per share and revenue of $9.47 billion, indicating changes of +5.16% and -3.75%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Biogen Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.6% decrease. Biogen Inc. currently has a Zacks Rank of #3 (Hold).
With respect to valuation, Biogen Inc. is currently being traded at a Forward P/E ratio of 14.03. This valuation marks a discount compared to its industry's average Forward P/E of 22.45.
We can additionally observe that BIIB currently boasts a PEG ratio of 1.81. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.46.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 74, positioning it in the top 30% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Biogen Inc. (BIIB) : Free Stock Analysis Report
