Pinnacle Associates Ltd. cut its stake in Regeneron Pharmaceuticals Inc (NASDAQ:REGN) by 16.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,846 shares of the biopharmaceutical company’s stock after selling 22,843 shares during the quarter. Regeneron Pharmaceuticals comprises about 1.8% of Pinnacle Associates Ltd.’s investment portfolio, making the stock its 5th biggest position. Pinnacle Associates Ltd. owned 0.11% of Regeneron Pharmaceuticals worth $58,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. purchased a new position in Regeneron Pharmaceuticals in the fourth quarter valued at about $3,661,000. OmniStar Financial Group Inc. acquired a new stake in shares of Regeneron Pharmaceuticals during the first quarter valued at about $28,000. CX Institutional grew its stake in shares of Regeneron Pharmaceuticals by 144.0% during the first quarter. CX Institutional now owns 61 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 36 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in shares of Regeneron Pharmaceuticals by 44.2% during the first quarter. Parkside Financial Bank & Trust now owns 62 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 19 shares in the last quarter. Finally, Globeflex Capital L P acquired a new stake in shares of Regeneron Pharmaceuticals during the first quarter valued at about $31,000. 68.04% of the stock is currently owned by institutional investors.

In other news, CEO Leonard S. Schleifer sold 150,922 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $569.22, for a total transaction of $85,907,820.84. Following the sale, the chief executive officer now owns 599,499 shares of the company’s stock, valued at $341,246,820.78. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert E. Landry sold 105 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $495.88, for a total value of $52,067.40. Following the sale, the chief financial officer now directly owns 25,092 shares in the company, valued at approximately $12,442,620.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 185,217 shares of company stock worth $104,371,477. Corporate insiders own 11.28% of the company’s stock.

Several brokerages have recently weighed in on REGN. Benchmark began coverage on Regeneron Pharmaceuticals in a research note on Sunday, April 19th. They set a “hold” rating for the company. Jefferies Financial Group restated a “buy” rating and set a $657.00 target price on shares of Regeneron Pharmaceuticals in a research note on Tuesday. Evercore ISI upgraded Regeneron Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $500.00 target price for the company in a research note on Monday, February 24th. Credit Suisse Group raised their target price on Regeneron Pharmaceuticals from $596.00 to $605.00 and gave the company an “outperform” rating in a research note on Wednesday, May 6th. Finally, BMO Capital Markets lifted their price target on Regeneron Pharmaceuticals from $466.00 to $525.00 and gave the stock a “market perform” rating in a research note on Wednesday, May 6th. Fourteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $544.25.

REGN stock traded down $17.32 during midday trading on Wednesday, reaching $600.34. The company had a trading volume of 986,520 shares, compared to its average volume of 1,982,693. The company has a quick ratio of 3.49, a current ratio of 4.21 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average price of $558.76 and a 200 day moving average price of $441.47. Regeneron Pharmaceuticals Inc has a fifty-two week low of $271.37 and a fifty-two week high of $618.71. The firm has a market capitalization of $65.95 billion, a PE ratio of 30.01, a P/E/G ratio of 1.28 and a beta of 0.57.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its earnings results on Tuesday, May 5th. The biopharmaceutical company reported $6.60 EPS for the quarter, beating the Zacks’ consensus estimate of $6.13 by $0.47. The company had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.81 billion. Regeneron Pharmaceuticals had a return on equity of 24.94% and a net margin of 28.56%. Regeneron Pharmaceuticals’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.45 earnings per share. Research analysts predict that Regeneron Pharmaceuticals Inc will post 23.84 EPS for the current year.

About Regeneron Pharmaceuticals

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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Institutional Ownership by Quarter for Regeneron Pharmaceuticals (NASDAQ:REGN)

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