Biogen Inc.'s (NASDAQ:BIIB) stock closed at $237.30, marking a modest gain of 1.19%, but trailing behind the S&P's gain of 1.2%, Dow's 1.58%, and Nasdaq's 1.16%. The company's performance over the past month saw an 8.75% decline, underperforming both the Medical sector and the S&P, which posted losses of 7.05% and 3.58% respectively.
Looking ahead, Biogen is set to announce its earnings on November 8, 2023, with projections indicating a year-over-year decrease. The company expects earnings per share (EPS) of $3.97, down by 16.77% from the previous year, and revenue of $2.39 billion, representing a drop of 4.82%.
For the full year, consensus estimates are predicting an EPS of $15.27 and revenue totaling $9.7 billion. Interestingly, the consensus EPS estimate has recently moved 0.13% higher, reflecting near-term business trends that could potentially affect Biogen's performance.
InvestingPro Insights
According to real-time data from InvestingPro, Biogen has a market cap of $34.35 billion and a P/E Ratio of 12.83 as of Q2 2023. The company's revenue in the last 12 months was reported to be $9.97 billion, with a gross profit of $7.60 billion. The return on assets for the same period is 10.61%.
InvestingPro Tips suggest that Biogen consistently increases its earnings per share and operates with a high return on assets. The stock is currently in oversold territory, indicating it may be undervalued. Moreover, seven analysts have revised their earnings upwards for the upcoming period, which signals potential growth. These insights are particularly relevant considering the company's upcoming earnings announcement and the recent movements in its stock price.
For more in-depth insights, InvestingPro offers an additional 13 tips on Biogen, which can be accessed through their platform.
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