Private Advisor Group LLC lowered its stake in shares of Regeneron Pharmaceuticals Inc (NASDAQ:REGN) by 6.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,137 shares of the biopharmaceutical company’s stock after selling 204 shares during the period. Private Advisor Group LLC’s holdings in Regeneron Pharmaceuticals were worth $982,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. raised its position in Regeneron Pharmaceuticals by 17.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 4,797 shares of the biopharmaceutical company’s stock worth $1,970,000 after acquiring an additional 703 shares during the last quarter. Buckingham Capital Management Inc. acquired a new position in Regeneron Pharmaceuticals during the first quarter worth about $969,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Regeneron Pharmaceuticals by 55.8% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,400 shares of the biopharmaceutical company’s stock worth $1,807,000 after acquiring an additional 1,575 shares during the last quarter. Martingale Asset Management L P acquired a new position in Regeneron Pharmaceuticals during the first quarter worth about $536,000. Finally, Checchi Capital Advisers LLC acquired a new position in Regeneron Pharmaceuticals during the first quarter worth about $200,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder Sanofi sold 172,904 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $281.15, for a total transaction of $48,611,959.60. Insiders own 11.84% of the company’s stock.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $5.29 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 28.59% and a return on equity of 25.79%. The company’s revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.45 earnings per share. As a group, equities analysts forecast that Regeneron Pharmaceuticals Inc will post 19.22 EPS for the current year.
A number of brokerages have issued reports on REGN. JPMorgan Chase & Co. restated a “hold” rating on shares of Regeneron Pharmaceuticals in a research report on Friday, June 21st. Argus cut shares of Regeneron Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. BMO Capital Markets cut their target price on shares of Regeneron Pharmaceuticals to $344.00 and set a “market perform” rating for the company in a research report on Wednesday, August 7th. BidaskClub cut shares of Regeneron Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 28th. Finally, Leerink Swann set a $453.00 target price on shares of Regeneron Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $396.88.
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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