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Biogen Inc. (BIIB) Profits But Lagging Market: What You Need to Know

BusinessPersonal FinanceBiogen Inc. (BIIB) Profits But Lagging Market: What You Need to Know
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In the latest trading session, Biogen Inc. (BIIB) closed at $262.35, up +1.47% from the previous day. The stock lagged the S&P 500’s daily gain of 1.68%. Meanwhile, the Dow shed 1.06% and the tech-heavy index Nasdaq shed 1.7%.

The shares of the company had declined by 10.99% over the last month before today’s trade. It has outpaced the medical sector’s 5.62% and the S&P 500’s 6.68% losses over that time.

Wall Street will look to Biogen Inc for positivity as it nears the date of its next earnings report. In that report, analysts expect Biogen Inc. Will post earnings of $3.34 per share. This would mark a year-on-year decline of 7.73%. Meanwhile, the Zacks consensus estimate for revenue calls for net sales of $2.35 billion, down 7.13% from the year-ago period.

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For the full year, our Zacks Consensus Estimates are calling for earnings per share of $15.47 and revenue of $9.58 billion, which would represent changes of -12.45% and -5.88%, respectively, from last year.

Biogen Inc. Investors should also note the recent changes in analyst estimates for . Recent revisions reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.

Based on our research, we believe these estimate revisions are directly related to in-team stock moves. To benefit from this, we developed Zacks Rank, a proprietary model that takes into account these estimation changes and provides an actionable rating system.

From #1 (strong buy) to #5 (strong sell), the Zacks Rank system has a proven, externally-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Giving On the month, the Zacks Consensus EPS estimate declined 1.54%. Biogen Inc. Currently has a Zacks Rank #3 (Hold).

Valuation is also important, so investors should note that Biogen Inc.’s forward P/E ratio currently stands at 16.71. This valuation marks a discount to its industry average forward P/E of 18.05.

Also, we should mention that BIIB’s PEG ratio is 2.19. This metric is used in a similar way to the well-known P/E ratio, but the PEG ratio also takes into account the stock’s expected earnings growth rate. Medical – Biomedical and genetics stocks carry an average PEG ratio of 1.54 based on yesterday’s closing prices.

Medical – The biomedical and genetics industry is part of the medical field. The industry currently has a Zacks Industry Rank of 99, placing it in the top 40% of all 250+ industries.

The Zacks Industry Rank lists individual companies within each of these sectors in order from best to worst in terms of average Zacks Ranks. Our research shows that the top 50% of rated industries outperform the bottom half by a factor of 2 to 1.

To follow BIIB in the coming trading sessions, be sure to peruse Zacks.com.

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Jax Investment Research

The views and opinions expressed here are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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