Yahoo Finance Biogen Inc. (BIIB) Dips More Than Broader Markets: What You Should Know
Biogen Inc. (BIIB) closed the most recent trading day at $285.37, moving -1.29% from the previous trading session. This move lagged the S&P 500's daily loss of 0.74%. Elsewhere, the Dow lost 0.9%, while the tech-heavy Nasdaq lost 0.07%.
Coming into today, shares of the company had lost 0.55% in the past month. In that same time, the Medical sector gained 6.05%, while the S&P 500 gained 3.74%.
Biogen Inc. will be looking to display strength as it nears its next earnings release. On that day, Biogen Inc. is projected to report earnings of $3.44 per share, which would represent year-over-year growth of 1.47%. Our most recent consensus estimate is calling for quarterly revenue of $2.44 billion, down 10.66% from the year-ago period.
BIIB's full-year Zacks Consensus Estimates are calling for earnings of $17 per share and revenue of $10.07 billion. These results would represent year-over-year changes of -11.55% and -8.33%, respectively.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 0.25% higher. Biogen Inc. currently has a Zacks Rank of #2 (Buy).
Looking at its valuation, Biogen Inc. is holding a Forward P/E ratio of 17.01. For comparison, its industry has an average Forward P/E of 19.34, which means Biogen Inc. is trading at a discount to the group.
Investors should also note that BIIB has a PEG ratio of 1.7 right now. 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 was holding an average PEG ratio of 1.37 at yesterday's closing price.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 55, which puts it in the top 22% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Biogen Inc. (BIIB) : Free Stock Analysis Report
