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Biogen Inc. (BIIB) Stock Sinks As Market Gains: What You Should Know
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Biogen Inc. (BIIB - Free Report) closed the most recent trading day at $276.17, moving -0.8% from the previous trading session. This change lagged the S&P 500's 0.71% gain on the day. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 4.62%.
Coming into today, shares of the company had lost 6.41% in the past month. In that same time, the Medical sector lost 1.53%, while the S&P 500 gained 2.65%.
Investors will be hoping for strength from Biogen Inc. as it approaches its next earnings release, which is expected to be July 25, 2023. The company is expected to report EPS of $3.77, down 28.19% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.38 billion, down 8% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.41 per share and revenue of $9.61 billion, which would represent changes of -12.79% and -5.52%, 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 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. 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, 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 0.06% higher within the past month. Biogen Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Biogen Inc. currently has a Forward P/E ratio of 18.07. For comparison, its industry has an average Forward P/E of 18.89, which means Biogen Inc. is trading at a discount to the group.
It is also worth noting that BIIB currently has a PEG ratio of 2.3. 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 1.88 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 110, putting it in the top 44% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Biogen Inc. (BIIB) Stock Sinks As Market Gains: What You Should Know
Biogen Inc. (BIIB - Free Report) closed the most recent trading day at $276.17, moving -0.8% from the previous trading session. This change lagged the S&P 500's 0.71% gain on the day. Meanwhile, the Dow gained 1.06%, and the Nasdaq, a tech-heavy index, added 4.62%.
Coming into today, shares of the company had lost 6.41% in the past month. In that same time, the Medical sector lost 1.53%, while the S&P 500 gained 2.65%.
Investors will be hoping for strength from Biogen Inc. as it approaches its next earnings release, which is expected to be July 25, 2023. The company is expected to report EPS of $3.77, down 28.19% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.38 billion, down 8% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $15.41 per share and revenue of $9.61 billion, which would represent changes of -12.79% and -5.52%, 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 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. 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, 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 0.06% higher within the past month. Biogen Inc. currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Biogen Inc. currently has a Forward P/E ratio of 18.07. For comparison, its industry has an average Forward P/E of 18.89, which means Biogen Inc. is trading at a discount to the group.
It is also worth noting that BIIB currently has a PEG ratio of 2.3. 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 1.88 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 110, putting it in the top 44% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.