Pinnacle Associates Ltd. Acquires 611 Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Pinnacle Associates Ltd. boosted its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 0.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 66,965 shares of the biopharmaceutical company’s stock after acquiring an additional 611 shares during the period. Regeneron Pharmaceuticals accounts for about 1.1% of Pinnacle Associates Ltd.’s holdings, making the stock its 12th biggest position. Pinnacle Associates Ltd.’s holdings in Regeneron Pharmaceuticals were worth $70,396,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. SteelPeak Wealth LLC lifted its stake in shares of Regeneron Pharmaceuticals by 173.0% in the 2nd quarter. SteelPeak Wealth LLC now owns 1,092 shares of the biopharmaceutical company’s stock valued at $1,148,000 after purchasing an additional 692 shares during the period. Atria Investments Inc boosted its stake in Regeneron Pharmaceuticals by 12.2% during the first quarter. Atria Investments Inc now owns 8,657 shares of the biopharmaceutical company’s stock valued at $8,317,000 after buying an additional 941 shares during the last quarter. Tri Locum Partners LP lifted its holdings in shares of Regeneron Pharmaceuticals by 104.5% in the 2nd quarter. Tri Locum Partners LP now owns 17,516 shares of the biopharmaceutical company’s stock valued at $18,410,000 after acquiring an additional 8,949 shares during the last quarter. Nordea Investment Management AB lifted its stake in Regeneron Pharmaceuticals by 23.2% in the first quarter. Nordea Investment Management AB now owns 29,195 shares of the biopharmaceutical company’s stock worth $28,218,000 after purchasing an additional 5,495 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Regeneron Pharmaceuticals by 16.8% in the 1st quarter. Tidal Investments LLC now owns 4,955 shares of the biopharmaceutical company’s stock worth $4,774,000 after purchasing an additional 711 shares during the period. Institutional investors own 83.31% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Christopher R. Fenimore sold 5,680 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the transaction, the chief financial officer now directly owns 15,305 shares of the company’s stock, valued at $18,447,575.65. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, VP Jason Pitofsky sold 487 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $1,070.00, for a total value of $521,090.00. Following the completion of the sale, the vice president now owns 4,204 shares of the company’s stock, valued at $4,498,280. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher R. Fenimore sold 5,680 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the sale, the chief financial officer now directly owns 15,305 shares in the company, valued at approximately $18,447,575.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.48% of the company’s stock.

Regeneron Pharmaceuticals Stock Performance

REGN traded up $5.56 during mid-day trading on Wednesday, reaching $932.89. 165,254 shares of the company traded hands, compared to its average volume of 504,277. Regeneron Pharmaceuticals, Inc. has a 52-week low of $772.84 and a 52-week high of $1,211.20. The stock has a market capitalization of $102.84 billion, a P/E ratio of 24.56, a P/E/G ratio of 3.20 and a beta of 0.12. The company’s fifty day moving average price is $1,077.78 and its 200-day moving average price is $1,041.48. The company has a quick ratio of 4.62, a current ratio of 5.44 and a debt-to-equity ratio of 0.10.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its earnings results on Thursday, August 1st. The biopharmaceutical company reported $11.56 EPS for the quarter, beating analysts’ consensus estimates of $8.93 by $2.63. Regeneron Pharmaceuticals had a net margin of 32.04% and a return on equity of 16.80%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the company posted $8.79 earnings per share. Regeneron Pharmaceuticals’s revenue for the quarter was up 12.3% compared to the same quarter last year. On average, sell-side analysts expect that Regeneron Pharmaceuticals, Inc. will post 37.6 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on REGN shares. BMO Capital Markets restated an “outperform” rating and set a $1,300.00 target price on shares of Regeneron Pharmaceuticals in a research report on Tuesday, September 24th. StockNews.com upgraded shares of Regeneron Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Morgan Stanley decreased their price target on Regeneron Pharmaceuticals from $1,183.00 to $1,182.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Guggenheim raised their target price on Regeneron Pharmaceuticals from $1,180.00 to $1,300.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Barclays cut their target price on shares of Regeneron Pharmaceuticals from $1,220.00 to $1,080.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Regeneron Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $1,101.00.

Regeneron Pharmaceuticals Profile

Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.