CenterBook Partners LP Sells 2,649 Shares of Regeneron Pharmaceuticals, Inc. $REGN

CenterBook Partners LP lessened its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 17.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,837 shares of the biopharmaceutical company’s stock after selling 2,649 shares during the quarter. CenterBook Partners LP’s holdings in Regeneron Pharmaceuticals were worth $9,734,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in REGN. BlackRock Inc. purchased a new position in shares of Regeneron Pharmaceuticals during the second quarter worth approximately $5,682,636,000. Legal & General Group Plc purchased a new stake in shares of Regeneron Pharmaceuticals in the 2nd quarter valued at $473,872,000. Bank of New York Mellon Corp purchased a new stake in shares of Regeneron Pharmaceuticals in the 2nd quarter valued at $472,950,000. Deutsche Bank AG purchased a new stake in shares of Regeneron Pharmaceuticals in the 2nd quarter valued at $323,249,000. Finally, Man Group plc bought a new position in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at $272,460,000. Hedge funds and other institutional investors own 83.31% of the company’s stock.

Insider Transactions at Regeneron Pharmaceuticals

In related news, Director Kathryn Guarini sold 400 shares of the business’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $900.00, for a total transaction of $360,000.00. Following the transaction, the director owned 603 shares in the company, valued at $542,700. The trade was a 39.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Christine A. Poon sold 7,830 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $969.09, for a total transaction of $7,587,974.70. Following the completion of the transaction, the director directly owned 5,219 shares of the company’s stock, valued at approximately $5,057,680.71. The trade was a 60.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 28,228 shares of company stock worth $25,985,950. 6.97% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on REGN shares. Jefferies Financial Group boosted their price target on shares of Regeneron Pharmaceuticals from $870.00 to $930.00 and gave the stock a “buy” rating in a research note on Thursday, October 1st. Evercore upped their price target on shares of Regeneron Pharmaceuticals from $825.00 to $850.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Leerink Partners increased their price target on shares of Regeneron Pharmaceuticals from $835.00 to $997.00 and gave the company a “market perform” rating in a research report on Monday, November 2nd. Cantor Fitzgerald raised their price target on shares of Regeneron Pharmaceuticals from $795.00 to $980.00 and gave the stock an “overweight” rating in a report on Monday, November 2nd. Finally, Citigroup boosted their price objective on shares of Regeneron Pharmaceuticals from $740.00 to $825.00 and gave the company a “neutral” rating in a research report on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $898.97.

Regeneron Pharmaceuticals Trading Up 0.2%

Shares of REGN traded up $1.45 during mid-day trading on Friday, hitting $904.35. 1,122,229 shares of the company’s stock traded hands, compared to its average volume of 793,479. The company has a quick ratio of 3.66, a current ratio of 3.35 and a debt-to-equity ratio of 0.06. Regeneron Pharmaceuticals, Inc. has a 1 year low of $591.52 and a 1 year high of $991.73. The firm has a market capitalization of $93.11 billion, a P/E ratio of 19.97, a PEG ratio of 1.51 and a beta of 0.10. The business’s 50-day moving average price is $804.38 and its 200-day moving average price is $742.81.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings results on Friday, October 30th. The biopharmaceutical company reported $20.07 EPS for the quarter, topping analysts’ consensus estimates of $16.51 by $3.56. The company had revenue of $5.12 billion during the quarter, compared to analyst estimates of $4.58 billion. Regeneron Pharmaceuticals had a return on equity of 16.01% and a net margin of 28.51%. The firm’s revenue was up 36.3% on a year-over-year basis. During the same quarter last year, the firm posted $11.83 earnings per share. As a group, sell-side analysts forecast that Regeneron Pharmaceuticals, Inc. will post 58.26 EPS for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Friday, November 20th will be issued a $0.94 dividend. The ex-dividend date is Friday, November 20th. This represents a $3.76 annualized dividend and a yield of 0.4%. Regeneron Pharmaceuticals’s dividend payout ratio is 8.30%.

Regeneron Pharmaceuticals Profile

Regeneron Pharmaceuticals, Inc is a biotechnology company that discovers, develops, manufactures and commercializes medicines for serious diseases. Its research and product portfolio spans areas including eye disease, allergic and inflammatory conditions, cancer, cardiovascular and metabolic disorders, infectious diseases and rare conditions.

The company’s medicines include EYLEA for certain eye diseases, Dupixent for inflammatory conditions and Libtayo for cancer. Regeneron also develops and markets treatments with pharmaceutical partners, including Sanofi, and its products reach patients in the United States and international markets through its own operations and collaborations.

Founded in 1988, Regeneron is headquartered in Tarrytown, New York.