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Biogen Inc. (BIIB) Stock Drops Despite Market Gains: Important Facts to Note
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In the latest trading session, Biogen Inc. (BIIB - Free Report) closed at $243.72, marking a -1.66% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.07%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 1.74%.
The company's shares have seen a decrease of 4.78% over the last month, not keeping up with the Medical sector's gain of 4.02% and the S&P 500's gain of 2.93%.
The upcoming earnings release of Biogen Inc. will be of great interest to investors. The company's earnings report is expected on February 13, 2024. It is anticipated that the company will report an EPS of $3.16, marking a 21.98% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $2.46 billion, reflecting a 3.43% fall from the equivalent quarter last year.
Investors should also note any recent changes to analyst estimates for Biogen Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.16% decrease. Biogen Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Biogen Inc. currently has a Forward P/E ratio of 15.75. For comparison, its industry has an average Forward P/E of 21.16, which means Biogen Inc. is trading at a discount to the group.
We can additionally observe that BIIB currently boasts a PEG ratio of 2.7. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.79.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 96, positioning it in the top 39% of all 250+ industries.
The Zacks Industry Rank is ordered 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 Drops Despite Market Gains: Important Facts to Note
In the latest trading session, Biogen Inc. (BIIB - Free Report) closed at $243.72, marking a -1.66% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.07%. Meanwhile, the Dow gained 0.35%, and the Nasdaq, a tech-heavy index, added 1.74%.
The company's shares have seen a decrease of 4.78% over the last month, not keeping up with the Medical sector's gain of 4.02% and the S&P 500's gain of 2.93%.
The upcoming earnings release of Biogen Inc. will be of great interest to investors. The company's earnings report is expected on February 13, 2024. It is anticipated that the company will report an EPS of $3.16, marking a 21.98% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $2.46 billion, reflecting a 3.43% fall from the equivalent quarter last year.
Investors should also note any recent changes to analyst estimates for Biogen Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.16% decrease. Biogen Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Biogen Inc. currently has a Forward P/E ratio of 15.75. For comparison, its industry has an average Forward P/E of 21.16, which means Biogen Inc. is trading at a discount to the group.
We can additionally observe that BIIB currently boasts a PEG ratio of 2.7. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Medical - Biomedical and Genetics industry had an average PEG ratio of 1.79.
The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 96, positioning it in the top 39% of all 250+ industries.
The Zacks Industry Rank is ordered 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.