StoneRidge PMG Advisors LLC purchased a new position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN – Free Report) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 804 shares of the biopharmaceutical company’s stock, valued at approximately $610,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in REGN. BlackRock Inc. bought a new position in Regeneron Pharmaceuticals in the second quarter worth $5,682,636,000. Legal & General Group Plc purchased a new position in Regeneron Pharmaceuticals during the second quarter valued at $473,872,000. Bank of New York Mellon Corp bought a new stake in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at $472,950,000. Deutsche Bank AG bought a new stake in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at $323,249,000. Finally, Man Group plc bought a new stake in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at $272,460,000. 83.31% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have recently weighed in on REGN shares. Sanford C. Bernstein upped their target price on shares of Regeneron Pharmaceuticals from $756.00 to $812.00 and gave the stock a “market perform” rating in a research report on Monday, November 2nd. Robert W. Baird lifted their price target on shares of Regeneron Pharmaceuticals from $761.00 to $875.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. Guggenheim lifted their price target on shares of Regeneron Pharmaceuticals from $1,030.00 to $1,100.00 and gave the company a “buy” rating in a research report on Monday, November 2nd. Royal Bank Of Canada boosted their price objective on shares of Regeneron Pharmaceuticals from $810.00 to $913.00 and gave the stock a “sector perform” rating in a research note on Monday, November 2nd. Finally, Jefferies Financial Group boosted their price objective on shares of Regeneron Pharmaceuticals from $870.00 to $930.00 and gave the stock a “buy” rating in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $898.97.
Get Our Latest Report on Regeneron Pharmaceuticals
Insider Transactions at Regeneron Pharmaceuticals
In related news, EVP Marion Mccourt sold 1,215 shares of the company’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $850.00, for a total value of $1,032,750.00. Following the transaction, the executive vice president owned 13,134 shares in the company, valued at $11,163,900. The trade was a 8.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph J. Larosa sold 4,466 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $965.49, for a total transaction of $4,311,878.34. Following the sale, the executive vice president directly owned 38,906 shares in the company, valued at $37,563,353.94. This trade represents a 10.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 27,028 shares of company stock worth $25,025,950 over the last quarter. Corporate insiders own 6.97% of the company’s stock.
Regeneron Pharmaceuticals Price Performance
REGN stock opened at $904.35 on Monday. The business has a 50 day moving average of $804.38 and a 200 day moving average of $742.81. The firm has a market cap of $93.11 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.20 and a beta of 0.10. Regeneron Pharmaceuticals, Inc. has a twelve month low of $591.52 and a twelve month high of $991.73. The company has a quick ratio of 2.89, a current ratio of 3.35 and a debt-to-equity ratio of 0.06.
Regeneron Pharmaceuticals (NASDAQ:REGN – Get Free Report) last released its earnings results on Friday, October 30th. The biopharmaceutical company reported $20.07 EPS for the quarter, topping the consensus estimate of $16.51 by $3.56. Regeneron Pharmaceuticals had a return on equity of 16.01% and a net margin of 28.51%. The business had revenue of $5.12 billion for the quarter, compared to the consensus estimate of $4.58 billion. During the same period in the previous year, the company posted $11.83 earnings per share. The company’s revenue for the quarter was up 36.3% compared to the same quarter last year. On average, research analysts forecast that Regeneron Pharmaceuticals, Inc. will post 58.26 EPS for the current fiscal year.
Regeneron Pharmaceuticals Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Friday, November 20th will be issued a dividend of $0.94 per share. The ex-dividend date is Friday, November 20th. This represents a $3.76 annualized dividend and a dividend yield of 0.4%. Regeneron Pharmaceuticals’s dividend payout ratio (DPR) is presently 8.30%.
Regeneron Pharmaceuticals Profile
Regeneron Pharmaceuticals, Inc is a biotechnology company that discovers, develops, manufactures and commercializes medicines for serious diseases. Its research and product portfolio spans areas including eye disease, allergic and inflammatory conditions, cancer, cardiovascular and metabolic disorders, infectious diseases and rare conditions.
The company’s medicines include EYLEA for certain eye diseases, Dupixent for inflammatory conditions and Libtayo for cancer. Regeneron also develops and markets treatments with pharmaceutical partners, including Sanofi, and its products reach patients in the United States and international markets through its own operations and collaborations.
Founded in 1988, Regeneron is headquartered in Tarrytown, New York.
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