Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Stake Raised by Summit Global Investments

Summit Global Investments boosted its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 5,172.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,239 shares of the biopharmaceutical company’s stock after buying an additional 15,931 shares during the period. Regeneron Pharmaceuticals comprises 0.9% of Summit Global Investments’ investment portfolio, making the stock its 21st largest holding. Summit Global Investments’ holdings in Regeneron Pharmaceuticals were worth $14,262,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of REGN. FMR LLC raised its holdings in Regeneron Pharmaceuticals by 7.3% during the 3rd quarter. FMR LLC now owns 9,840,892 shares of the biopharmaceutical company’s stock worth $8,098,661,000 after buying an additional 669,517 shares during the period. International Assets Investment Management LLC raised its holdings in Regeneron Pharmaceuticals by 76,169.5% during the 4th quarter. International Assets Investment Management LLC now owns 591,089 shares of the biopharmaceutical company’s stock worth $519,148,000 after buying an additional 590,314 shares during the period. abrdn plc increased its holdings in shares of Regeneron Pharmaceuticals by 552.8% in the 4th quarter. abrdn plc now owns 219,900 shares of the biopharmaceutical company’s stock valued at $193,136,000 after purchasing an additional 186,215 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Regeneron Pharmaceuticals by 129.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 216,523 shares of the biopharmaceutical company’s stock valued at $190,170,000 after purchasing an additional 122,103 shares during the period. Finally, TD Asset Management Inc increased its holdings in shares of Regeneron Pharmaceuticals by 64.4% in the 3rd quarter. TD Asset Management Inc now owns 180,267 shares of the biopharmaceutical company’s stock valued at $148,353,000 after purchasing an additional 70,628 shares during the period. Institutional investors and hedge funds own 83.31% of the company’s stock.

Analyst Ratings Changes

REGN has been the topic of a number of research reports. Morgan Stanley upped their target price on Regeneron Pharmaceuticals from $1,104.00 to $1,115.00 and gave the company an “overweight” rating in a report on Wednesday, March 13th. StockNews.com downgraded Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Truist Financial reiterated a “buy” rating and issued a $1,135.00 target price on shares of Regeneron Pharmaceuticals in a report on Wednesday, April 3rd. Bank of America upped their target price on Regeneron Pharmaceuticals from $710.00 to $720.00 and gave the company an “underperform” rating in a report on Friday, April 12th. Finally, BMO Capital Markets upped their target price on Regeneron Pharmaceuticals from $1,055.00 to $1,082.00 and gave the company an “outperform” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $977.77.

Insider Activity

In other news, EVP Andrew J. Murphy sold 5,783 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $956.47, for a total value of $5,531,266.01. Following the completion of the sale, the executive vice president now directly owns 48,306 shares of the company’s stock, valued at $46,203,239.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Andrew J. Murphy sold 5,783 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $956.47, for a total value of $5,531,266.01. Following the completion of the transaction, the executive vice president now directly owns 48,306 shares in the company, valued at $46,203,239.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur F. Ryan sold 100 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $982.05, for a total value of $98,205.00. Following the completion of the transaction, the director now directly owns 18,282 shares of the company’s stock, valued at $17,953,838.10. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,095 shares of company stock valued at $9,664,476. 8.83% of the stock is owned by company insiders.

Regeneron Pharmaceuticals Stock Performance

Regeneron Pharmaceuticals stock traded up $34.98 during trading hours on Thursday, reaching $938.46. 846,626 shares of the company were exchanged, compared to its average volume of 495,850. The firm has a market cap of $103.01 billion, a price-to-earnings ratio of 26.00, a PEG ratio of 2.55 and a beta of 0.17. The company has a current ratio of 5.69, a quick ratio of 4.94 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $944.78 and a 200 day moving average of $895.25. Regeneron Pharmaceuticals, Inc. has a 12 month low of $684.80 and a 12 month high of $998.33.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Friday, February 2nd. The biopharmaceutical company reported $11.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.73 by $1.13. Regeneron Pharmaceuticals had a return on equity of 17.61% and a net margin of 30.14%. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same quarter in the prior year, the business earned $10.96 earnings per share. The company’s revenue was up .6% on a year-over-year basis. As a group, research analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 38.86 earnings per share for the current year.

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.