Wrapmanager Inc. reduced its stake in shares of Regeneron Pharmaceuticals Inc (NASDAQ:REGN) by 8.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,229 shares of the biopharmaceutical company’s stock after selling 116 shares during the period. Wrapmanager Inc.’s holdings in Regeneron Pharmaceuticals were worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Smithfield Trust Co. bought a new position in shares of Regeneron Pharmaceuticals in the first quarter worth $27,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Regeneron Pharmaceuticals in the first quarter worth $29,000. Citizens Financial Group Inc RI bought a new position in shares of Regeneron Pharmaceuticals in the first quarter worth $30,000. Thor Advisors LLC bought a new position in shares of Regeneron Pharmaceuticals in the first quarter worth $32,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Regeneron Pharmaceuticals in the first quarter worth $41,000. Hedge funds and other institutional investors own 66.97% of the company’s stock.
Several research firms have recently issued reports on REGN. Cantor Fitzgerald decreased their price target on Regeneron Pharmaceuticals from $441.00 to $405.00 and set a “neutral” rating for the company in a research note on Monday, May 13th. Robert W. Baird raised Regeneron Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $410.00 price target for the company in a research note on Wednesday, August 7th. Piper Jaffray Companies reissued an “overweight” rating and issued a $435.00 price target on shares of Regeneron Pharmaceuticals in a research note on Tuesday, May 7th. Cowen restated a “hold” rating and issued a $353.00 price objective on shares of Regeneron Pharmaceuticals in a report on Monday, July 29th. Finally, Morgan Stanley cut their price objective on Regeneron Pharmaceuticals from $420.00 to $389.00 and set an “equal weight” rating for the company in a report on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $398.25.
Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $5.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.60 by $0.69. The business had revenue of $1.93 billion during 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 company’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.45 earnings per share. On average, analysts predict that Regeneron Pharmaceuticals Inc will post 19.22 earnings per share for the current year.
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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