Premier Asset Managment LLC Has $13.35 Million Position in Regeneron Pharmaceuticals, Inc. (REGN)
Premier Asset Managment LLC raised its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 0.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,452 shares of the biopharmaceutical company’s stock after buying an additional 113 shares during the period. Regeneron Pharmaceuticals makes up about 3.2% of Premier Asset Managment LLC’s portfolio, making the stock its 7th largest position. Premier Asset Managment LLC’s holdings in Regeneron Pharmaceuticals were worth $13,350,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. Grandfield & Dodd LLC raised its position in Regeneron Pharmaceuticals by 1.1% in the first quarter. Grandfield & Dodd LLC now owns 1,497 shares of the biopharmaceutical company’s stock valued at $580,000 after buying an additional 17 shares during the last quarter. Opus Point Partners Management LLC raised its position in Regeneron Pharmaceuticals by 2.3% in the fourth quarter. Opus Point Partners Management LLC now owns 7,684 shares of the biopharmaceutical company’s stock valued at $2,821,000 after buying an additional 172 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in Regeneron Pharmaceuticals during the fourth quarter valued at approximately $323,000. CIBC World Markets Inc. raised its position in Regeneron Pharmaceuticals by 2,190.6% in the first quarter. CIBC World Markets Inc. now owns 21,784 shares of the biopharmaceutical company’s stock valued at $8,442,000 after buying an additional 20,833 shares during the last quarter. Finally, Sustainable Growth Advisers LP raised its position in Regeneron Pharmaceuticals by 6.4% in the third quarter. Sustainable Growth Advisers LP now owns 442,437 shares of the biopharmaceutical company’s stock valued at $177,868,000 after buying an additional 26,613 shares during the last quarter. Hedge funds and other institutional investors own 67.25% of the company’s stock.
Shares of Regeneron Pharmaceuticals, Inc. (REGN) traded down 2.04% during mid-day trading on Friday, hitting $459.91. The stock had a trading volume of 1,658,740 shares. Regeneron Pharmaceuticals, Inc. has a one year low of $325.35 and a one year high of $489.00. The firm has a 50 day moving average of $450.98 and a 200 day moving average of $392.16. The stock has a market cap of $48.55 billion, a price-to-earnings ratio of 55.67 and a beta of 1.53. Regeneron Pharmaceuticals also was the recipient of unusually large options trading activity on Wednesday. Investors bought 1,049 call options on the company. This represents an increase of approximately 368% compared to the typical volume of 224 call options.
Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.50 by $0.42. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Regeneron Pharmaceuticals had a net margin of 19.34% and a return on equity of 22.99%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.57 earnings per share. On average, analysts forecast that Regeneron Pharmaceuticals, Inc. will post $12.66 earnings per share for the current year.
A number of research firms have issued reports on REGN. Oppenheimer Holdings, Inc. began coverage on Regeneron Pharmaceuticals in a research report on Thursday, March 16th. They set a “hold” rating for the company. Vetr downgraded Regeneron Pharmaceuticals from a “sell” rating to a “strong sell” rating and set a $368.84 price target for the company. in a research report on Monday, May 15th. Leerink Swann set a $448.00 price target on Regeneron Pharmaceuticals and gave the company a “buy” rating in a research report on Tuesday, March 28th. BTIG Research reissued a “buy” rating and set a $460.00 price target on shares of Regeneron Pharmaceuticals in a research report on Wednesday, March 29th. Finally, Robert W. Baird reissued a “neutral” rating and set a $369.00 price target on shares of Regeneron Pharmaceuticals in a research report on Tuesday, March 28th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $434.17.
In other news, EVP Neil Stahl sold 2,812 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $479.49, for a total value of $1,348,325.88. Following the completion of the transaction, the executive vice president now owns 28,477 shares in the company, valued at $13,654,436.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael S. Brown sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $400.00, for a total transaction of $400,000.00. Following the completion of the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $400,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,674 shares of company stock valued at $11,852,498. Corporate insiders own 10.40% of the company’s stock.
Regeneron Pharmaceuticals Company Profile
Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company commercializes medicines for eye diseases, high low-density lipoprotein (LDL) cholesterol, and an inflammatory condition and have product candidates in development in other areas, including rheumatoid arthritis, asthma, atopic dermatitis, pain, cancer, and infectious diseases.
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