Biogen Inc. (NASDAQ:BIIB) Shares Sold by Citizens & Northern Corp

Citizens & Northern Corp reduced its holdings in Biogen Inc. (NASDAQ:BIIB) by 31.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,894 shares of the biotechnology company’s stock after selling 1,328 shares during the period. Citizens & Northern Corp’s holdings in Biogen were worth $443,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in BIIB. Inspire Trust Co. N.A. grew its stake in Biogen by 58.5% in the 3rd quarter. Inspire Trust Co. N.A. now owns 10,900 shares of the biotechnology company’s stock valued at $2,113,000 after acquiring an additional 4,025 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Biogen by 0.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after purchasing an additional 111 shares during the period. Centre Asset Management LLC increased its stake in shares of Biogen by 7.7% during the fourth quarter. Centre Asset Management LLC now owns 51,530 shares of the biotechnology company’s stock worth $7,880,000 after purchasing an additional 3,698 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Biogen by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 913,029 shares of the biotechnology company’s stock worth $176,982,000 after purchasing an additional 12,319 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Biogen by 3.2% in the 3rd quarter. Principal Financial Group Inc. now owns 168,631 shares of the biotechnology company’s stock valued at $32,687,000 after buying an additional 5,270 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. JPMorgan Chase & Co. reduced their target price on Biogen from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Monday, November 4th. TD Cowen reduced their price objective on Biogen from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Royal Bank of Canada lowered their target price on shares of Biogen from $231.00 to $225.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Wolfe Research initiated coverage on shares of Biogen in a research report on Friday, November 15th. They issued a “peer perform” rating for the company. Finally, Bank Of America (Bofa) lowered their price target on shares of Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 11th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $211.96.

Biogen Price Performance

BIIB stock opened at $137.33 on Tuesday. The business’s fifty day moving average price is $146.90 and its 200 day moving average price is $172.71. Biogen Inc. has a 12-month low of $128.51 and a 12-month high of $238.00. The company has a current ratio of 1.26, a quick ratio of 0.80 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $20.01 billion, a PE ratio of 12.41, a P/E/G ratio of 1.65 and a beta of -0.08.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.81% and a return on equity of 14.98%. On average, sell-side analysts anticipate that Biogen Inc. will post 16.42 EPS for the current year.

Biogen Profile

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.