Biogen Inc. (BIIB) Laps the Stock Market: Here's Why
In the latest market close, Biogen Inc. (BIIB) reached $247.52, with a +1.1% movement compared to the previous day. This change outpaced the S&P 500's 0.76% gain on the day. Elsewhere, the Dow gained 0.59%, while the tech-heavy Nasdaq added 1.12%.
Shares of the company have depreciated by 5.39% over the course of the past month, underperforming the Medical sector's gain of 1.57% and the S&P 500's gain of 2.5%.
The upcoming earnings release of Biogen Inc. will be of great interest to investors. The company's earnings report is expected on February 13, 2024. The company is forecasted to report an EPS of $3.14, showcasing a 22.47% downward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $2.46 billion, showing a 3.33% drop compared to the year-ago quarter.
Investors should also take note of any recent adjustments 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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.02% lower. Biogen Inc. presently features a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Biogen Inc. has a Forward P/E ratio of 15.53 right now. This signifies a discount in comparison to the average Forward P/E of 22.01 for its industry.
It is also worth noting that BIIB currently has a PEG ratio of 2.26. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 1.83.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 96, finds itself in the top 39% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Biogen Inc. (BIIB) : Free Stock Analysis Report
