Point72 Asset Management L.P. reduced its stake in shares of Regeneron Pharmaceuticals Inc (NASDAQ:REGN) by 86.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,700 shares of the biopharmaceutical company’s stock after selling 171,400 shares during the quarter. Point72 Asset Management L.P.’s holdings in Regeneron Pharmaceuticals were worth $9,556,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Ostrum Asset Management acquired a new stake in shares of Regeneron Pharmaceuticals in the first quarter valued at approximately $108,000. Icon Wealth Partners LLC acquired a new stake in shares of Regeneron Pharmaceuticals in the second quarter valued at approximately $112,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Regeneron Pharmaceuticals in the second quarter valued at approximately $159,000. Valeo Financial Advisors LLC grew its position in shares of Regeneron Pharmaceuticals by 943.4% in the second quarter. Valeo Financial Advisors LLC now owns 553 shares of the biopharmaceutical company’s stock valued at $203,000 after purchasing an additional 500 shares during the last quarter. Finally, Advisory Services Network LLC grew its position in shares of Regeneron Pharmaceuticals by 71.8% in the second quarter. Advisory Services Network LLC now owns 663 shares of the biopharmaceutical company’s stock valued at $248,000 after purchasing an additional 277 shares during the last quarter. Institutional investors own 66.90% of the company’s stock.
In other Regeneron Pharmaceuticals news, Chairman P Roy Vagelos sold 74,710 shares of the stock in a transaction that occurred on Thursday, June 21st. The shares were sold at an average price of $327.87, for a total transaction of $24,495,167.70. Following the transaction, the chairman now owns 553,121 shares of the company’s stock, valued at $181,351,782.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Sanofi sold 104,552 shares of the stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $406.68, for a total transaction of $42,519,207.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 259,432 shares of company stock worth $96,485,427. 12.42% of the stock is owned by company insiders.
Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Thursday, August 2nd. The biopharmaceutical company reported $5.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.60 by $0.85. Regeneron Pharmaceuticals had a net margin of 25.65% and a return on equity of 29.30%. The firm had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.56 billion. During the same quarter last year, the business earned $4.17 earnings per share. Regeneron Pharmaceuticals’s revenue was up 9.4% compared to the same quarter last year. sell-side analysts anticipate that Regeneron Pharmaceuticals Inc will post 19.4 earnings per share for the current year.
Several research firms have recently commented on REGN. BMO Capital Markets set a $388.00 price target on shares of Regeneron Pharmaceuticals and gave the company a “hold” rating in a research report on Thursday, August 2nd. Barclays increased their price target on shares of Regeneron Pharmaceuticals from $290.00 to $305.00 and gave the company an “underweight” rating in a research report on Monday, August 6th. Jefferies Financial Group reiterated a “hold” rating and issued a $340.00 price target on shares of Regeneron Pharmaceuticals in a research report on Tuesday, July 24th. Robert W. Baird lowered shares of Regeneron Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research report on Friday, August 3rd. Finally, Morgan Stanley increased their price target on shares of Regeneron Pharmaceuticals from $396.00 to $409.00 and gave the company an “equal weight” rating in a research report on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and seven have issued a buy rating to the company. Regeneron Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $411.48.
About Regeneron Pharmaceuticals
Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for treating serious 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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