State of Alaska Department of Revenue Trims Stock Position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

State of Alaska Department of Revenue decreased its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 8.2% in the first quarter, Holdings Channel reports. The firm owned 21,239 shares of the biopharmaceutical company’s stock after selling 1,895 shares during the period. State of Alaska Department of Revenue’s holdings in Regeneron Pharmaceuticals were worth $20,440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of REGN. West Paces Advisors Inc. lifted its holdings in shares of Regeneron Pharmaceuticals by 575.0% in the 1st quarter. West Paces Advisors Inc. now owns 27 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 23 shares during the period. Fortitude Family Office LLC purchased a new stake in Regeneron Pharmaceuticals in the fourth quarter worth about $31,000. MCF Advisors LLC lifted its stake in Regeneron Pharmaceuticals by 50.0% in the fourth quarter. MCF Advisors LLC now owns 36 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 12 shares during the period. Criterion Capital Advisors LLC bought a new position in Regeneron Pharmaceuticals during the 4th quarter worth about $37,000. Finally, Bruce G. Allen Investments LLC purchased a new position in Regeneron Pharmaceuticals during the 4th quarter valued at about $40,000. Institutional investors own 83.31% of the company’s stock.

Wall Street Analyst Weigh In

REGN has been the topic of a number of recent research reports. Morgan Stanley increased their price objective on shares of Regeneron Pharmaceuticals from $1,104.00 to $1,115.00 and gave the company an “overweight” rating in a research note on Wednesday, March 13th. Sanford C. Bernstein began coverage on Regeneron Pharmaceuticals in a research report on Tuesday, March 12th. They set an “outperform” rating and a $1,125.00 target price on the stock. Argus boosted their price target on Regeneron Pharmaceuticals from $1,060.00 to $1,170.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Royal Bank of Canada restated an “outperform” rating and set a $1,229.00 price objective on shares of Regeneron Pharmaceuticals in a research note on Monday, June 24th. Finally, Bank of America lifted their target price on Regeneron Pharmaceuticals from $710.00 to $720.00 and gave the company an “underperform” rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Regeneron Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $1,027.55.

Regeneron Pharmaceuticals Stock Performance

Shares of Regeneron Pharmaceuticals stock traded down $20.57 during trading on Wednesday, hitting $1,024.09. 378,341 shares of the company’s stock were exchanged, compared to its average volume of 477,749. The stock has a market capitalization of $112.84 billion, a price-to-earnings ratio of 30.25, a PEG ratio of 2.17 and a beta of 0.13. The business has a 50-day simple moving average of $990.15 and a 200-day simple moving average of $954.11. Regeneron Pharmaceuticals, Inc. has a 52-week low of $688.52 and a 52-week high of $1,081.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.51 and a current ratio of 5.27.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported $7.97 earnings per share for the quarter, missing analysts’ consensus estimates of $8.46 by ($0.49). The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.19 billion. Regeneron Pharmaceuticals had a net margin of 29.45% and a return on equity of 16.83%. On average, research analysts forecast that Regeneron Pharmaceuticals, Inc. will post 37.23 EPS for the current year.

Insider Buying and Selling at Regeneron Pharmaceuticals

In other Regeneron Pharmaceuticals news, CEO Leonard S. Schleifer sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $979.25, for a total value of $24,481,250.00. Following the sale, the chief executive officer now owns 408,200 shares in the company, valued at approximately $399,729,850. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Leonard S. Schleifer sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $979.25, for a total transaction of $24,481,250.00. Following the sale, the chief executive officer now directly owns 408,200 shares in the company, valued at approximately $399,729,850. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Marion Mccourt sold 1,137 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,047.11, for a total value of $1,190,564.07. Following the completion of the transaction, the executive vice president now directly owns 12,931 shares of the company’s stock, valued at approximately $13,540,179.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 63,208 shares of company stock valued at $62,514,142. 7.48% of the stock is owned by company insiders.

Regeneron Pharmaceuticals Company 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.