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Biogen Inc. (BIIB) Gains As Market Dips: What You Should Know
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Biogen Inc. (BIIB - Free Report) closed at $214.75 in the latest trading session, marking a +1.47% move from the prior day. This change outpaced the S&P 500's 0.27% loss on the day. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the company had gained 6.54% over the past month, lagging the Medical sector's gain of 9.59% and the S&P 500's gain of 7.36% in that time.
Wall Street will be looking for positivity from Biogen Inc. as it approaches its next earnings report date. This is expected to be May 3, 2022. On that day, Biogen Inc. is projected to report earnings of $4.38 per share, which would represent a year-over-year decline of 17.98%. Meanwhile, our latest consensus estimate is calling for revenue of $2.52 billion, down 6.39% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.52 per share and revenue of $9.92 billion, which would represent changes of -19.25% and -9.65%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Biogen Inc.Recent revisions tend to reflect the latest near-term business trends. 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.13% higher. Biogen Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Biogen Inc. currently has a Forward P/E ratio of 13.64. Its industry sports an average Forward P/E of 22.94, so we one might conclude that Biogen Inc. is trading at a discount comparatively.
Also, we should mention that BIIB has a PEG ratio of 1.31. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.22 based on yesterday's closing prices.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Biogen Inc. (BIIB) Gains As Market Dips: What You Should Know
Biogen Inc. (BIIB - Free Report) closed at $214.75 in the latest trading session, marking a +1.47% move from the prior day. This change outpaced the S&P 500's 0.27% loss on the day. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the company had gained 6.54% over the past month, lagging the Medical sector's gain of 9.59% and the S&P 500's gain of 7.36% in that time.
Wall Street will be looking for positivity from Biogen Inc. as it approaches its next earnings report date. This is expected to be May 3, 2022. On that day, Biogen Inc. is projected to report earnings of $4.38 per share, which would represent a year-over-year decline of 17.98%. Meanwhile, our latest consensus estimate is calling for revenue of $2.52 billion, down 6.39% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.52 per share and revenue of $9.92 billion, which would represent changes of -19.25% and -9.65%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Biogen Inc.Recent revisions tend to reflect the latest near-term business trends. 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. 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. Within the past 30 days, our consensus EPS projection has moved 0.13% higher. Biogen Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Biogen Inc. currently has a Forward P/E ratio of 13.64. Its industry sports an average Forward P/E of 22.94, so we one might conclude that Biogen Inc. is trading at a discount comparatively.
Also, we should mention that BIIB has a PEG ratio of 1.31. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Medical - Biomedical and Genetics stocks are, on average, holding a PEG ratio of 1.22 based on yesterday's closing prices.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 151, putting it in the bottom 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.
You can find more information on all of these metrics, and much more, on Zacks.com.