Symphony Asset Management LLC reduced its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 4.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,103 shares of the biopharmaceutical company’s stock after selling 54 shares during the period. Symphony Asset Management LLC’s holdings in Regeneron Pharmaceuticals were worth $542,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Oppenheimer & Co. Inc. increased its holdings in Regeneron Pharmaceuticals by 20.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 7,007 shares of the biopharmaceutical company’s stock worth $3,441,000 after purchasing an additional 1,199 shares in the last quarter. Dupont Capital Management Corp bought a new stake in Regeneron Pharmaceuticals during the 2nd quarter worth approximately $220,000. Blair William & Co. IL increased its holdings in Regeneron Pharmaceuticals by 4.8% during the 2nd quarter. Blair William & Co. IL now owns 1,713 shares of the biopharmaceutical company’s stock worth $841,000 after purchasing an additional 79 shares in the last quarter. National Pension Service increased its holdings in Regeneron Pharmaceuticals by 10.8% during the 2nd quarter. National Pension Service now owns 66,518 shares of the biopharmaceutical company’s stock worth $33,920,000 after purchasing an additional 6,481 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Regeneron Pharmaceuticals by 2.4% during the 2nd quarter. Principal Financial Group Inc. now owns 115,201 shares of the biopharmaceutical company’s stock worth $56,580,000 after purchasing an additional 2,646 shares in the last quarter. 67.96% of the stock is owned by hedge funds and other institutional investors.
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In related news, CFO Robert E. Landry sold 189 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $501.06, for a total value of $94,700.34. Following the completion of the transaction, the chief financial officer now owns 10,099 shares of the company’s stock, valued at approximately $5,060,204.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman P Roy Vagelos sold 1,305 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $470.00, for a total transaction of $613,350.00. Following the completion of the transaction, the chairman now directly owns 329,543 shares of the company’s stock, valued at approximately $154,885,210. The disclosure for this sale can be found here. Insiders sold a total of 99,543 shares of company stock valued at $47,831,369 in the last ninety days. 10.40% of the stock is currently owned by insiders.
Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) opened at 441.30 on Friday. The company has a 50 day moving average price of $474.95 and a 200-day moving average price of $444.94. The stock has a market cap of $46.79 billion, a P/E ratio of 44.27 and a beta of 1.65. Regeneron Pharmaceuticals, Inc. has a 12 month low of $325.35 and a 12 month high of $543.55.
Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported $4.17 earnings per share for the quarter, topping the consensus estimate of $2.67 by $1.50. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.36 billion. Regeneron Pharmaceuticals had a net margin of 22.05% and a return on equity of 25.58%. Regeneron Pharmaceuticals’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.82 EPS. On average, equities research analysts predict that Regeneron Pharmaceuticals, Inc. will post $14.90 earnings per share for the current year.
REGN has been the subject of a number of recent research reports. Zacks Investment Research lowered Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 4th. Piper Jaffray Companies upped their target price on Regeneron Pharmaceuticals from $446.00 to $557.00 and gave the company an “overweight” rating in a report on Tuesday, June 20th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $484.00 target price (up from $421.00) on shares of Regeneron Pharmaceuticals in a report on Friday, July 21st. Leerink Swann reaffirmed an “outperform” rating and issued a $493.00 target price on shares of Regeneron Pharmaceuticals in a report on Tuesday, June 13th. Finally, Sanford C. Bernstein lowered Regeneron Pharmaceuticals from an “outperform” rating to a “market perform” rating and upped their target price for the company from $410.00 to $480.00 in a report on Monday, June 26th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $491.43.
Regeneron Pharmaceuticals Profile
Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company commercializes medicines for eye diseases, high low-density lipoprotein (LDL) cholesterol, and an inflammatory condition and have product candidates in development in other areas, including rheumatoid arthritis, asthma, atopic dermatitis, pain, cancer, and infectious diseases.
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