Centre Asset Management LLC Takes Position in Regeneron Pharmaceuticals Inc (REGN)
Centre Asset Management LLC bought a new position in Regeneron Pharmaceuticals Inc (NASDAQ:REGN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 23,430 shares of the biopharmaceutical company’s stock, valued at approximately $8,083,000. Regeneron Pharmaceuticals accounts for about 1.9% of Centre Asset Management LLC’s holdings, making the stock its 17th largest holding.
Several other institutional investors have also modified their holdings of the company. Ostrum Asset Management acquired a new stake in Regeneron Pharmaceuticals during the first quarter valued at $108,000. Summit Trail Advisors LLC boosted its position in Regeneron Pharmaceuticals by 22,971.8% during the first quarter. Summit Trail Advisors LLC now owns 166,348 shares of the biopharmaceutical company’s stock valued at $166,000 after purchasing an additional 165,627 shares during the last quarter. Financial Gravity Wealth Inc. acquired a new stake in Regeneron Pharmaceuticals during the first quarter valued at $211,000. Sawtooth Solutions LLC acquired a new stake in Regeneron Pharmaceuticals during the first quarter valued at $218,000. Finally, Intl Fcstone Inc. acquired a new stake in Regeneron Pharmaceuticals during the second quarter valued at $233,000. 65.97% of the stock is owned by institutional investors and hedge funds.
NASDAQ REGN opened at $372.14 on Friday. Regeneron Pharmaceuticals Inc has a fifty-two week low of $281.89 and a fifty-two week high of $505.49. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.92 and a current ratio of 3.62. The stock has a market cap of $42.15 billion, a price-to-earnings ratio of 23.78, a P/E/G ratio of 1.35 and a beta of 1.26.
A number of analysts recently issued reports on REGN shares. Barclays set a $290.00 price objective on Regeneron Pharmaceuticals and gave the company a “sell” rating in a research report on Thursday, May 3rd. BidaskClub raised Regeneron Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 21st. SunTrust Banks reissued a “hold” rating and set a $400.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Friday, August 3rd. Credit Suisse Group set a $420.00 price objective on Regeneron Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, April 27th. Finally, Zacks Investment Research cut Regeneron Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company’s stock. Regeneron Pharmaceuticals has an average rating of “Hold” and an average price target of $416.52.
In other news, major shareholder Sanofi sold 121,601 shares of Regeneron Pharmaceuticals stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $309.31, for a total value of $37,612,405.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph L. Goldstein sold 2,000 shares of Regeneron Pharmaceuticals stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $380.00, for a total value of $760,000.00. Following the completion of the transaction, the director now owns 14,000 shares in the company, valued at $5,320,000. The disclosure for this sale can be found here. Insiders sold 286,388 shares of company stock worth $94,373,982 over the last quarter. 12.42% of the stock is currently owned by corporate insiders.
About Regeneron Pharmaceuticals
Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious 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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