Biogen Inc. (BIIB) closed at $224.69 in the latest trading session, marking a +1.89% move from the prior day. This move outpaced the S&P 500's daily gain of 0.28%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.16%.Prior to today's trading, shares of the company had lost 6.33% over the past month. This has was narrower than the Medical sector's loss of 9.62% and lagged the S&P 500's loss of 5.39% in that time.Investors will be hoping for strength from Biogen Inc. as it approaches its next earnings release, which is expected to be February 3, 2022. On that day, Biogen Inc. is projected to report earnings of $3.35 per share, which would represent a year-over-year decline of 26.86%. Meanwhile, our latest consensus estimate is calling for revenue of $2.62 billion, down 8.08% from the prior-year quarter.Investors might also notice recent changes to analyst estimates for Biogen Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.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. Over the past month, the Zacks Consensus EPS estimate has moved 0.24% lower. Biogen Inc. is currently a Zacks Rank #3 (Hold).Valuation is also important, so investors should note that Biogen Inc. has a Forward P/E ratio of 11.59 right now. For comparison, its industry has an average Forward P/E of 17.78, which means Biogen Inc. is trading at a discount to the group.It is also worth noting that BIIB currently has a PEG ratio of 1.11. 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 1.07 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 102, which puts it in the top 40% of all 250+ industries.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com. Zacks’ Top Picks to Cash in on Artificial Intelligence This world-changing technology is projected to generate $100S of billions by 2025. From self-driving cars to consumer data analysis, people are relying on machines more than we ever have before. Now is the time to capitalize on the 4th Industrial Revolution. Zacks’ urgent special report reveals 6 AI picks investors need to know about today.See 6 Artificial Intelligence Stocks With Extreme Upside Potential>>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