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Biogen Inc. (BIIB) Stock Moves -0.02%: What You Should Know
Biogen Inc. (BIIB - Free Report) closed at $291.88 in the latest trading session, marking a -0.02% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.07%. Meanwhile, the Dow gained 0.31%, and the Nasdaq, a tech-heavy index, lost 3.22%.
Prior to today's trading, shares of the company had gained 4.57% over the past month. This has outpaced the Medical sector's loss of 0.32% and lagged the S&P 500's gain of 4.64% in that time.
Biogen Inc. will be looking to display strength as it nears its next earnings release, which is expected to be February 15, 2023. The company is expected to report EPS of $3.42, up 0.88% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.44 billion, down 10.59% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Biogen Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.25% higher. Biogen Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note Biogen Inc.'s current valuation metrics, including its Forward P/E ratio of 18.38. This valuation marks a discount compared to its industry's average Forward P/E of 20.73.
Meanwhile, BIIB's PEG ratio is currently 1.84. 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. The Medical - Biomedical and Genetics industry currently had an average PEG ratio of 1.63 as of yesterday's close.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 84, which puts it in the top 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.