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Biogen Inc. (BIIB) Rises But Trails Market: What Investors Should Know
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Biogen Inc. (BIIB - Free Report) ended the recent trading session at $237.30, demonstrating a +1.19% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 1.2%. Meanwhile, the Dow experienced a rise of 1.58%, and the technology-dominated Nasdaq saw an increase of 1.16%.
The company's stock has dropped by 8.75% in the past month, falling short of the Medical sector's loss of 7.05% and the S&P 500's loss of 3.58%.
The investment community will be paying close attention to the earnings performance of Biogen Inc. in its upcoming release. The company is slated to reveal its earnings on November 8, 2023. The company's upcoming EPS is projected at $3.97, signifying a 16.77% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $2.39 billion, indicating a 4.82% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $15.27 per share and revenue of $9.7 billion, which would represent changes of -13.58% and -4.62%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Biogen Inc. Such recent modifications usually signify the changing landscape of near-term business trends. 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.
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 0.13% higher within the past month. Biogen Inc. presently features a Zacks Rank of #3 (Hold).
Investors should also note Biogen Inc.'s current valuation metrics, including its Forward P/E ratio of 15.36. This indicates a discount in contrast to its industry's Forward P/E of 15.77.
Meanwhile, BIIB's PEG ratio is currently 2.54. 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. As the market closed yesterday, the Medical - Biomedical and Genetics industry was having an average PEG ratio of 1.7.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 68, this industry ranks in the top 27% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Biogen Inc. (BIIB) Rises But Trails Market: What Investors Should Know
Biogen Inc. (BIIB - Free Report) ended the recent trading session at $237.30, demonstrating a +1.19% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 1.2%. Meanwhile, the Dow experienced a rise of 1.58%, and the technology-dominated Nasdaq saw an increase of 1.16%.
The company's stock has dropped by 8.75% in the past month, falling short of the Medical sector's loss of 7.05% and the S&P 500's loss of 3.58%.
The investment community will be paying close attention to the earnings performance of Biogen Inc. in its upcoming release. The company is slated to reveal its earnings on November 8, 2023. The company's upcoming EPS is projected at $3.97, signifying a 16.77% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $2.39 billion, indicating a 4.82% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $15.27 per share and revenue of $9.7 billion, which would represent changes of -13.58% and -4.62%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Biogen Inc. Such recent modifications usually signify the changing landscape of near-term business trends. 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.
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 0.13% higher within the past month. Biogen Inc. presently features a Zacks Rank of #3 (Hold).
Investors should also note Biogen Inc.'s current valuation metrics, including its Forward P/E ratio of 15.36. This indicates a discount in contrast to its industry's Forward P/E of 15.77.
Meanwhile, BIIB's PEG ratio is currently 2.54. 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. As the market closed yesterday, the Medical - Biomedical and Genetics industry was having an average PEG ratio of 1.7.
The Medical - Biomedical and Genetics industry is part of the Medical sector. With its current Zacks Industry Rank of 68, this industry ranks in the top 27% of all industries, numbering over 250.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.