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

Citizens & Northern Corp grew its holdings in Biogen Inc. (NASDAQ:BIIB) by 49.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund 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.

A number of other institutional investors have also made changes to their positions in the business. Generali Investments CEE investicni spolecnost a.s. increased its stake in Biogen by 43.2% in the 2nd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 38,755 shares of the biotechnology company’s stock valued at $4,867,000 after buying an additional 11,695 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Biogen by 6.5% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 416,960 shares of the biotechnology company’s stock valued at $57,057,000 after acquiring an additional 25,464 shares in the last quarter. Asset Management One Co. Ltd. increased its position in shares of Biogen by 5.5% in the first quarter. Asset Management One Co. Ltd. now owns 61,420 shares of the biotechnology company’s stock valued at $8,405,000 after acquiring an additional 3,194 shares during the last quarter. Point72 Europe London LLP acquired a new stake in shares of Biogen in the first quarter valued at about $11,286,000. Finally, Motley Fool Asset Management LLC raised its holdings in Biogen by 64.7% during the first quarter. Motley Fool Asset Management LLC now owns 6,809 shares of the biotechnology company’s stock worth $932,000 after acquiring an additional 2,676 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Insiders Place Their Bets

In other Biogen news, insider Priya Singhal sold 517 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $133.55, for a total transaction of $69,045.35. Following the transaction, the insider owned 5,772 shares in the company, valued at $770,850.60. This trade represents a 8.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of analyst reports. Rothschild & Co Redburn raised their price target on Biogen from $149.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. Truist Financial initiated coverage on Biogen in a report on Monday, July 21st. They issued a “hold” rating and a $142.00 price objective for the company. Citigroup restated a “neutral” rating on shares of Biogen in a report on Wednesday, September 24th. Jefferies Financial Group began coverage on shares of Biogen in a research report on Thursday, September 25th. They set a “buy” rating and a $190.00 price target on the stock. Finally, HC Wainwright increased their price target on shares of Biogen from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Eleven investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $180.69.

Biogen Trading Down 0.3%

BIIB stock opened at $146.22 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. The company has a fifty day moving average price of $142.25 and a two-hundred day moving average price of $131.70. Biogen Inc. has a one year low of $110.04 and a one year high of $187.58. The stock has a market cap 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.

Biogen (NASDAQ:BIIB) last posted its earnings results on Thursday, July 31st. The biotechnology company reported $5.47 EPS for the quarter, beating the consensus estimate of $3.93 by $1.54. The company 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 for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities analysts anticipate that Biogen Inc. will post 15.83 EPS 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.