Biogen Inc. (BIIB) Rises Higher Than Market: Key Facts
In the latest trading session, Biogen Inc. (BIIB) closed at $251.68, marking a +1.36% move from the previous day. This move outpaced the S&P 500's daily gain of 0.29%. Meanwhile, the Dow experienced a drop of 0.25%, and the technology-dominated Nasdaq saw an increase of 0.43%.
Heading into today, shares of the company had lost 3.75% over the past month, lagging the Medical sector's gain of 2.29% and the S&P 500's gain of 2.08% in that time.
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's upcoming EPS is projected at $3.16, signifying a 21.98% drop compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $2.46 billion, reflecting a 3.35% fall from the equivalent quarter last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Biogen Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 shifted 0.06% downward. As of now, Biogen Inc. holds a Zacks Rank of #3 (Hold).
Looking at its valuation, Biogen Inc. is holding a Forward P/E ratio of 15.75. Its industry sports an average Forward P/E of 23.69, so one might conclude that Biogen Inc. is trading at a discount comparatively.
It's also important to note that BIIB currently trades at a PEG ratio of 2.29. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Medical - Biomedical and Genetics industry had an average PEG ratio of 1.88 as trading concluded yesterday.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BIIB in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Biogen Inc. (BIIB) : Free Stock Analysis Report
