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Biogen Inc. (BIIB) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest market close, Biogen Inc. (BIIB - Free Report) reached $227.36, with a -1.18% movement compared to the previous day. This move lagged the S&P 500's daily gain of 1.12%. Meanwhile, the Dow experienced a rise of 0.61%, and the technology-dominated Nasdaq saw an increase of 1.54%.
The company's stock has dropped by 5.99% in the past month, falling short of the Medical sector's gain of 2.49% and the S&P 500's gain of 2.06%.
Investors will be eagerly watching for the performance of Biogen Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $3.47, showcasing a 2.06% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $2.32 billion, down 5.66% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $15.48 per share and revenue of $9.47 billion, which would represent changes of +5.16% and -3.75%, respectively, from the prior 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.49% lower within the past month. 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 14.86. This signifies a discount in comparison to the average Forward P/E of 23.47 for its industry.
Also, we should mention that BIIB has a PEG ratio of 1.92. 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. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 1.63.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 80, this industry ranks in the top 32% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Biogen Inc. (BIIB) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest market close, Biogen Inc. (BIIB - Free Report) reached $227.36, with a -1.18% movement compared to the previous day. This move lagged the S&P 500's daily gain of 1.12%. Meanwhile, the Dow experienced a rise of 0.61%, and the technology-dominated Nasdaq saw an increase of 1.54%.
The company's stock has dropped by 5.99% in the past month, falling short of the Medical sector's gain of 2.49% and the S&P 500's gain of 2.06%.
Investors will be eagerly watching for the performance of Biogen Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $3.47, showcasing a 2.06% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $2.32 billion, down 5.66% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $15.48 per share and revenue of $9.47 billion, which would represent changes of +5.16% and -3.75%, respectively, from the prior 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. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.49% lower within the past month. 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 14.86. This signifies a discount in comparison to the average Forward P/E of 23.47 for its industry.
Also, we should mention that BIIB has a PEG ratio of 1.92. 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. As of the close of trade yesterday, the Medical - Biomedical and Genetics industry held an average PEG ratio of 1.63.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 80, this industry ranks in the top 32% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.