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Biogen Inc. (BIIB) Outpaces Stock Market Gains: What You Should Know
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Biogen Inc. (BIIB - Free Report) closed at $288.08 in the latest trading session, marking a +1.07% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.34%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 8.98%.
Prior to today's trading, shares of the company had lost 1.39% over the past month. This has lagged the Medical sector's loss of 0.28% and the S&P 500's gain of 1% in that time.
Wall Street will be looking for positivity from Biogen Inc. as it approaches its next earnings report date. In that report, analysts expect Biogen Inc. to post earnings of $3.41 per share. This would mark year-over-year growth of 0.59%. Meanwhile, our latest consensus estimate is calling for revenue of $2.44 billion, down 10.67% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Biogen Inc.These recent revisions tend to reflect the evolving nature of short-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. 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 0.15% lower within the past month. Biogen Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Biogen Inc.'s current valuation metrics, including its Forward P/E ratio of 18.01. For comparison, its industry has an average Forward P/E of 19.88, which means Biogen Inc. is trading at a discount to the group.
Also, we should mention that BIIB has a PEG ratio of 1.8. 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. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.6 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 60, putting it in the top 24% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Biogen Inc. (BIIB) Outpaces Stock Market Gains: What You Should Know
Biogen Inc. (BIIB - Free Report) closed at $288.08 in the latest trading session, marking a +1.07% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.34%. Meanwhile, the Dow gained 0.64%, and the Nasdaq, a tech-heavy index, added 8.98%.
Prior to today's trading, shares of the company had lost 1.39% over the past month. This has lagged the Medical sector's loss of 0.28% and the S&P 500's gain of 1% in that time.
Wall Street will be looking for positivity from Biogen Inc. as it approaches its next earnings report date. In that report, analysts expect Biogen Inc. to post earnings of $3.41 per share. This would mark year-over-year growth of 0.59%. Meanwhile, our latest consensus estimate is calling for revenue of $2.44 billion, down 10.67% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Biogen Inc.These recent revisions tend to reflect the evolving nature of short-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. 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 0.15% lower within the past month. Biogen Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Biogen Inc.'s current valuation metrics, including its Forward P/E ratio of 18.01. For comparison, its industry has an average Forward P/E of 19.88, which means Biogen Inc. is trading at a discount to the group.
Also, we should mention that BIIB has a PEG ratio of 1.8. 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. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.6 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 60, putting it in the top 24% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.