Citizens & Northern Corp Has $883,000 Stake in Biogen Inc. $BIIB

Citizens & Northern Corp lifted its stake in Biogen Inc. (NASDAQ:BIIB) by 49.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,028 shares of the biotechnology company’s stock after purchasing an additional 2,315 shares during the period. Citizens & Northern Corp’s holdings in Biogen were worth $883,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Biogen by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 17,032,839 shares of the biotechnology company’s stock valued at $2,330,774,000 after buying an additional 283,964 shares during the last quarter. Invesco Ltd. boosted its holdings in Biogen by 6.4% in the first quarter. Invesco Ltd. now owns 2,265,007 shares of the biotechnology company’s stock valued at $309,944,000 after acquiring an additional 136,200 shares during the last quarter. AQR Capital Management LLC increased its position in Biogen by 153.6% in the first quarter. AQR Capital Management LLC now owns 1,368,842 shares of the biotechnology company’s stock worth $187,258,000 after purchasing an additional 829,150 shares during the period. Amundi increased its position in Biogen by 8.1% in the first quarter. Amundi now owns 1,315,947 shares of the biotechnology company’s stock worth $172,007,000 after purchasing an additional 98,957 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Biogen by 4.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,019,219 shares of the biotechnology company’s stock worth $139,470,000 after purchasing an additional 47,956 shares during the last quarter. Institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BIIB shares. Wall Street Zen raised shares of Biogen from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 28th. Royal Bank Of Canada dropped their price target on shares of Biogen from $219.00 to $217.00 and set an “outperform” rating for the company in a research note on Wednesday, October 8th. Rothschild & Co Redburn raised their price objective on shares of Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Wednesday, September 24th. Finally, HC Wainwright upped their target price on shares of Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Eleven equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $180.69.

Insider Buying and Selling

In related news, insider Priya Singhal sold 517 shares of the business’s stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the sale, the insider directly owned 5,772 shares of the company’s stock, valued at approximately $770,850.60. The trade was a 8.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Biogen Price Performance

Shares of BIIB stock opened at $146.22 on Wednesday. Biogen Inc. has a 12-month low of $110.04 and a 12-month high of $187.58. The firm has a market capitalization of $21.44 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.16 and a beta of 0.13. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average of $142.25 and a 200-day moving average of $131.70.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, topping the consensus estimate of $3.93 by $1.54. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $5.28 EPS. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. On average, equities research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current year.

About Biogen

Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer’s disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.