Nisa Investment Advisors LLC cut its stake in shares of Regeneron Pharmaceuticals Inc (NASDAQ:REGN) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,400 shares of the biopharmaceutical company’s stock after selling 576 shares during the period. Nisa Investment Advisors LLC’s holdings in Regeneron Pharmaceuticals were worth $5,936,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of REGN. Point72 Asset Management L.P. acquired a new position in Regeneron Pharmaceuticals during the second quarter valued at approximately $151,443,000. Parnassus Investments CA boosted its position in Regeneron Pharmaceuticals by 290.6% during the second quarter. Parnassus Investments CA now owns 625,000 shares of the biopharmaceutical company’s stock valued at $195,625,000 after purchasing an additional 465,000 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Regeneron Pharmaceuticals by 700.5% during the second quarter. Nuveen Asset Management LLC now owns 352,815 shares of the biopharmaceutical company’s stock valued at $110,432,000 after purchasing an additional 308,740 shares during the last quarter. Prudential Financial Inc. boosted its position in Regeneron Pharmaceuticals by 190.2% during the second quarter. Prudential Financial Inc. now owns 227,517 shares of the biopharmaceutical company’s stock valued at $71,213,000 after purchasing an additional 149,111 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Regeneron Pharmaceuticals by 62.3% during the second quarter. Renaissance Technologies LLC now owns 337,962 shares of the biopharmaceutical company’s stock valued at $105,782,000 after purchasing an additional 129,700 shares during the last quarter. 66.55% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently commented on REGN. Bank of America began coverage on Regeneron Pharmaceuticals in a research report on Wednesday, October 16th. They set a “neutral” rating and a $325.00 price target for the company. Piper Jaffray Companies set a $435.00 price objective on Regeneron Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, October 8th. Guggenheim upgraded Regeneron Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price objective for the company from $355.00 to $403.00 in a research note on Monday, September 23rd. Cowen set a $349.00 price objective on Regeneron Pharmaceuticals and gave the company a “hold” rating in a research note on Tuesday, October 8th. Finally, Canaccord Genuity dropped their price objective on Regeneron Pharmaceuticals from $353.00 to $320.00 and set a “hold” rating on the stock in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $390.47.
Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $5.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.60 by $0.69. The company had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.80 billion. Regeneron Pharmaceuticals had a return on equity of 25.79% and a net margin of 28.59%. The firm’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter last year, the company earned $5.45 earnings per share. Equities research analysts expect that Regeneron Pharmaceuticals Inc will post 18.91 EPS for the current year.
In other news, major shareholder Sanofi sold 172,904 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $281.15, for a total transaction of $48,611,959.60. 11.84% of the stock is currently owned by company insiders.
Regeneron Pharmaceuticals Profile
Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for treating various medical conditions worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema (DME); myopic choroidal neovascularization; and diabetic retinopathy in patients with DME, as well as macular edema following retinal vein occlusion, including macular edema following central retinal vein occlusion and macular edema following branch retinal vein occlusion.
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