Regeneron Pharmaceuticals, Inc. (REGN) Stake Increased by Acadian Asset Management LLC
Acadian Asset Management LLC raised its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 2,132.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,496 shares of the biopharmaceutical company’s stock after buying an additional 1,429 shares during the period. Acadian Asset Management LLC’s holdings in Regeneron Pharmaceuticals were worth $735,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Highbridge Capital Management LLC acquired a new stake in shares of Regeneron Pharmaceuticals during the fourth quarter valued at approximately $323,000. Raymond James Trust N.A. boosted its stake in shares of Regeneron Pharmaceuticals by 9.2% in the first quarter. Raymond James Trust N.A. now owns 828 shares of the biopharmaceutical company’s stock valued at $320,000 after buying an additional 70 shares during the period. National Pension Service boosted its stake in shares of Regeneron Pharmaceuticals by 6.1% in the first quarter. National Pension Service now owns 60,037 shares of the biopharmaceutical company’s stock valued at $23,185,000 after buying an additional 3,430 shares during the period. Bank of Montreal Can boosted its stake in shares of Regeneron Pharmaceuticals by 55.0% in the first quarter. Bank of Montreal Can now owns 50,819 shares of the biopharmaceutical company’s stock valued at $19,693,000 after buying an additional 18,030 shares during the period. Finally, Alpha Windward LLC boosted its stake in shares of Regeneron Pharmaceuticals by 4.4% in the first quarter. Alpha Windward LLC now owns 383 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 16 shares during the period. 66.70% of the stock is owned by institutional investors and hedge funds.
Regeneron Pharmaceuticals, Inc. (REGN) traded up 1.41% during trading on Friday, hitting $466.59. The stock had a trading volume of 495,953 shares. Regeneron Pharmaceuticals, Inc. has a 12-month low of $325.35 and a 12-month high of $543.55. The stock has a 50 day moving average price of $495.54 and a 200 day moving average price of $426.50. The company has a market capitalization of $49.47 billion, a price-to-earnings ratio of 46.81 and a beta of 1.66.
Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported $4.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.67 by $1.50. Regeneron Pharmaceuticals had a net margin of 22.05% and a return on equity of 25.58%. The business had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.36 billion. During the same period last year, the business posted $2.82 EPS. Regeneron Pharmaceuticals’s revenue was up 21.2% on a year-over-year basis. Equities research analysts forecast that Regeneron Pharmaceuticals, Inc. will post $14.84 earnings per share for the current year.
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REGN has been the subject of several recent analyst reports. Vetr cut Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $408.86 target price for the company. in a research report on Monday, April 24th. Zacks Investment Research raised Regeneron Pharmaceuticals from a “hold” rating to a “buy” rating and set a $416.00 target price for the company in a research report on Thursday, April 27th. BMO Capital Markets reaffirmed a “hold” rating and issued a $421.00 target price (up previously from $412.00) on shares of Regeneron Pharmaceuticals in a research report on Friday, May 5th. Cowen and Company reaffirmed a “hold” rating and issued a $380.00 target price on shares of Regeneron Pharmaceuticals in a research report on Friday, May 5th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Regeneron Pharmaceuticals in a research report on Thursday, May 4th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Regeneron Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $489.35.
In related news, Chairman P Roy Vagelos sold 9,295 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $458.14, for a total value of $4,258,411.30. Following the completion of the sale, the chairman now directly owns 414,156 shares in the company, valued at approximately $189,741,429.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sanofi bought 136,050 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was purchased at an average price of $478.17 per share, with a total value of $65,055,028.50. The disclosure for this purchase can be found here. Insiders sold a total of 56,922 shares of company stock valued at $27,383,105 over the last quarter. 10.40% of the stock is currently owned by company insiders.
About Regeneron Pharmaceuticals
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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