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Biogen Inc. (BIIB) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Biogen Inc. (BIIB - Free Report) closed at $277.41, marking a -0.87% move from the previous day. This move lagged the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Heading into today, shares of the company had lost 8.13% over the past month, lagging the Medical sector's loss of 1.4% and the S&P 500's gain of 3.34% in that time.
Investors will be hoping for strength from Biogen Inc. as it approaches its next earnings release, which is expected to be July 25, 2023. On that day, Biogen Inc. is projected to report earnings of $3.74 per share, which would represent a year-over-year decline of 28.76%. Our most recent consensus estimate is calling for quarterly revenue of $2.38 billion, down 8.18% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.36 per share and revenue of $9.62 billion. These totals would mark changes of -13.07% and -5.47%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Biogen Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Biogen Inc. currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Biogen Inc. has a Forward P/E ratio of 18.22 right now. For comparison, its industry has an average Forward P/E of 19.41, which means Biogen Inc. is trading at a discount to the group.
Also, we should mention that BIIB has a PEG ratio of 2.32. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BIIB's industry had an average PEG ratio of 1.86 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% 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) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Biogen Inc. (BIIB - Free Report) closed at $277.41, marking a -0.87% move from the previous day. This move lagged the S&P 500's daily gain of 0.74%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 11.47%.
Heading into today, shares of the company had lost 8.13% over the past month, lagging the Medical sector's loss of 1.4% and the S&P 500's gain of 3.34% in that time.
Investors will be hoping for strength from Biogen Inc. as it approaches its next earnings release, which is expected to be July 25, 2023. On that day, Biogen Inc. is projected to report earnings of $3.74 per share, which would represent a year-over-year decline of 28.76%. Our most recent consensus estimate is calling for quarterly revenue of $2.38 billion, down 8.18% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.36 per share and revenue of $9.62 billion. These totals would mark changes of -13.07% and -5.47%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Biogen Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. Biogen Inc. currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Biogen Inc. has a Forward P/E ratio of 18.22 right now. For comparison, its industry has an average Forward P/E of 19.41, which means Biogen Inc. is trading at a discount to the group.
Also, we should mention that BIIB has a PEG ratio of 2.32. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BIIB's industry had an average PEG ratio of 1.86 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 104, putting it in the top 42% 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.