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Biogen Inc. (BIIB) Stock Moves -1.02%: What You Should Know
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Biogen Inc. (BIIB - Free Report) closed at $239.27 in the latest trading session, marking a -1.02% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.94%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Prior to today's trading, shares of the company had gained 6.57% over the past month. This has outpaced the Medical sector's gain of 2.88% and the S&P 500's gain of 5.72% in that time.
Biogen Inc. will be looking to display strength as it nears its next earnings release. On that day, Biogen Inc. is projected to report earnings of $3.32 per share, which would represent a year-over-year decline of 27.51%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.63 billion, down 7.95% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Biogen Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.28% lower within the past month. Biogen Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Biogen Inc.'s current valuation metrics, including its Forward P/E ratio of 12.7. This represents a discount compared to its industry's average Forward P/E of 17.98.
Also, we should mention that BIIB has a PEG ratio of 1.22. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.32 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow BIIB in the coming trading sessions, be sure to utilize Zacks.com.
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Biogen Inc. (BIIB) Stock Moves -1.02%: What You Should Know
Biogen Inc. (BIIB - Free Report) closed at $239.27 in the latest trading session, marking a -1.02% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.94%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Prior to today's trading, shares of the company had gained 6.57% over the past month. This has outpaced the Medical sector's gain of 2.88% and the S&P 500's gain of 5.72% in that time.
Biogen Inc. will be looking to display strength as it nears its next earnings release. On that day, Biogen Inc. is projected to report earnings of $3.32 per share, which would represent a year-over-year decline of 27.51%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.63 billion, down 7.95% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Biogen Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.28% lower within the past month. Biogen Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Biogen Inc.'s current valuation metrics, including its Forward P/E ratio of 12.7. This represents a discount compared to its industry's average Forward P/E of 17.98.
Also, we should mention that BIIB has a PEG ratio of 1.22. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.32 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 104, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
To follow BIIB in the coming trading sessions, be sure to utilize Zacks.com.