Biogen Inc. (BIIB) closed at $295.95 in the latest trading session, marking a -1.98% move from the prior day. This change lagged the S&P 500's daily loss of 0.58%.Coming into today, shares of the company had lost 12.1% in the past month. In that same time, the Medical sector lost 0.62%, while the S&P 500 gained 0.16%.BIIB will be looking to display strength as it nears its next earnings release. In that report, analysts expect BIIB to post earnings of $4.21 per share. This would mark a year-over-year decline of 52.38%. Meanwhile, our latest consensus estimate is calling for revenue of $2.67 billion, down 20.88% from the prior-year quarter.Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $18.69 per share and revenue of $10.75 billion. These totals would mark changes of -44.54% and -20.07%, respectively, from last year.Investors might also notice recent changes to analyst estimates for BIIB. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.06% lower. BIIB is holding a Zacks Rank of #3 (Hold) right now.Valuation is also important, so investors should note that BIIB has a Forward P/E ratio of 16.16 right now. Its industry sports an average Forward P/E of 24.88, so we one might conclude that BIIB is trading at a discount comparatively.Investors should also note that BIIB has a PEG ratio of 1.55 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Medical - Biomedical and Genetics was holding an average PEG ratio of 1.56 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 196, which puts it in the bottom 23% 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.To follow BIIB in the coming trading sessions, be sure to utilize Zacks.com. Tech IPOs With Massive Profit Potential In the past few years, many popular platforms and like Uber and Airbnb finally made their way to the public markets. But the biggest paydays came from lesser-known names. For example, electric carmaker X Peng shot up +299.4% in just 2 months. Think of it this way… If you had put $5,000 into XPEV at its IPO in September 2020, you could have cashed out with $19,970 in November. With record amounts of cash flooding into IPOs and a record-setting stock market, this year’s lineup could be even more lucrative.See Zacks Hottest Tech IPOs Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Biogen Inc. (BIIB): Free Stock Analysis Report To read this article on Zacks.com click here.