Advertisement
Canada markets close in 23 minutes

  • S&P/TSX

    22,300.24
    +56.90 (+0.26%)
     

  • S&P 500

    5,303.57
    +56.89 (+1.08%)
     

  • DOW

    39,869.83
    +311.72 (+0.79%)
     

  • CAD/USD

    0.7350
    +0.0025 (+0.33%)
     

  • CRUDE OIL

    78.79
    +0.77 (+0.99%)
     

  • Bitcoin CAD

    89,791.08
    +6,073.45 (+7.25%)
     

  • CMC Crypto 200

    1,386.38
    +118.43 (+9.34%)
     

  • GOLD FUTURES

    2,392.20
    +32.30 (+1.37%)
     

  • RUSSELL 2000

    2,106.75
    +21.06 (+1.01%)
     

  • 10-Yr Bond

    4.3560
    -0.0890 (-2.00%)
     

  • NASDAQ

    16,740.75
    +229.57 (+1.39%)
     

  • VOLATILITY

    12.53
    -0.89 (-6.63%)
     

  • FTSE

    8,445.80
    +17.67 (+0.21%)
     

  • NIKKEI 225

    38,385.73
    +29.67 (+0.08%)
     

  • CAD/EUR

    0.6753
    -0.0016 (-0.24%)
     
MARKETS LIVE BLOG:

STOCKS JUMP AFTER U.S. INFLATION REPORT RELEASE

Roundhill Magnificent Seven ETF hits all-time high on Wednesday

Are You a Momentum Investor? This 1 Stock Could Be the Perfect Pick

Zacks Equity Research
·2 min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.

ADVERTISEMENT

Biogen Inc. (BIIB)

Based in Cambridge, MA, Biogen Inc. is one of the world’s leading biotechnology companies, which focuses on developing innovative therapies for treating serious neurological and neurodegenerative diseases, including its core growth areas of multiple sclerosis (MS) and neuroimmunology, Alzheimer’s disease (AD) and dementia, movement disorders including Parkinson's disease, neuromuscular disorders, including spinal muscular atrophy (SMA) and amyotrophic lateral sclerosis (ALS) and ophthalmology.

BIIB boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of Biogen Inc. has seen some interesting price action recently; the stock is up 11.2% over the past one week and up 3.5% over the past four weeks. And in the last one-year period, BIIB has lost 30.5%. As for the stock's trading volume, 1,329,165.25 shares on average were traded over the last 20 days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. 11 analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.08 to $15.58 per share. BIIB boasts an average earnings surprise of 3.9%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding BIIB to their portfolios.

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.

Zacks Investment Research