Biogen Inc. (BIIB) Registers a Bigger Fall Than the Market: Important Facts to Note
Biogen Inc. (BIIB) ended the recent trading session at $255.84, demonstrating a -0.83% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.15% for the day. Meanwhile, the Dow experienced a drop of 0.42%, and the technology-dominated Nasdaq saw an increase of 0.09%.
Shares of the company witnessed a gain of 4.82% over the previous month, trailing the performance of the Medical sector with its gain of 6.58% and outperforming the S&P 500's gain of 3.5%.
Investors will be eagerly watching for the performance of Biogen Inc. in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $3.16, reflecting a 21.98% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.46 billion, down 3.47% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Biogen Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.13% decrease. Biogen Inc. is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Biogen Inc. has a Forward P/E ratio of 16.36 right now. This expresses a discount compared to the average Forward P/E of 23.03 of its industry.
We can also see that BIIB currently has a PEG ratio of 2.38. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Medical - Biomedical and Genetics industry stood at 1.93 at the close of the market yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry, currently bearing a Zacks Industry Rank of 66, finds itself in the top 27% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Biogen Inc. (BIIB) : Free Stock Analysis Report
