Back to top

Image: Bigstock

Biogen Inc. (BIIB) Stock Sinks As Market Gains: Here's Why

Read MoreHide Full Article

In the latest market close, Biogen Inc. (BIIB - Free Report) reached $240.30, with a -0.1% movement compared to the previous day. This change lagged the S&P 500's 0.06% gain on the day. Meanwhile, the Dow gained 0.13%, and the Nasdaq, a tech-heavy index, added 0.24%.

Prior to today's trading, shares of the company had lost 5.38% over the past month. This has lagged the Medical sector's gain of 3.52% and the S&P 500's gain of 6.45% in that time.

The investment community will be closely monitoring the performance of Biogen Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on February 13, 2024. The company's upcoming EPS is projected at $3.16, signifying a 21.98% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.46 billion, down 3.41% from the year-ago period.

Investors might also notice recent changes to analyst estimates for Biogen Inc. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

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. The Zacks Consensus EPS estimate has moved 0.48% lower within the past month. Biogen Inc. currently has a Zacks Rank of #3 (Hold).

Looking at its valuation, Biogen Inc. is holding a Forward P/E ratio of 15.31. This denotes a discount relative to the industry's average Forward P/E of 20.88.

Meanwhile, BIIB's PEG ratio is currently 2.63. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. BIIB's industry had an average PEG ratio of 1.78 as of yesterday's close.

The Medical - Biomedical and Genetics industry is part of the Medical sector. Currently, this industry holds a Zacks Industry Rank of 99, positioning it in the top 40% 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.


See More Zacks Research for These Tickers


Normally $25 each - click below to receive one report FREE:


Biogen Inc. (BIIB) - free report >>

Published in