Yahoo Finance Biogen Inc. (BIIB) Stock Sinks As Market Gains: What You Should Know
Biogen Inc. (BIIB) closed the most recent trading day at $266.15, moving -0.66% from the previous trading session. This change lagged the S&P 500's 1.3% gain on the day. Meanwhile, the Dow gained 0.98%, and the Nasdaq, a tech-heavy index, added 7.48%.
Heading into today, shares of the company had lost 3.76% over the past month, lagging the Medical sector's loss of 3.29% and the S&P 500's loss of 2.95% in that time.
Wall Street will be looking for positivity from Biogen Inc. as it approaches its next earnings report date. On that day, Biogen Inc. is projected to report earnings of $3.33 per share, which would represent a year-over-year decline of 8.01%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.35 billion, down 7.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $15.47 per share and revenue of $9.58 billion. These totals would mark changes of -12.45% and -5.83%, respectively, from last year.
Any recent changes to analyst estimates for Biogen Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. 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 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 0.11% lower within the past month. 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 17.31. For comparison, its industry has an average Forward P/E of 18.52, which means Biogen Inc. is trading at a discount to the group.
Investors should also note that BIIB has a PEG ratio of 2.27 right now. 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. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.67 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 92, which puts it in the top 37% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Biogen Inc. (BIIB) : Free Stock Analysis Report
