Pinnacle Associates Ltd. Acquires 611 Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Pinnacle Associates Ltd. lifted its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 0.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 66,965 shares of the biopharmaceutical company’s stock after buying an additional 611 shares during the quarter. Regeneron Pharmaceuticals makes up about 1.1% of Pinnacle Associates Ltd.’s investment portfolio, making the stock its 12th largest position. Pinnacle Associates Ltd. owned about 0.06% of Regeneron Pharmaceuticals worth $70,396,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Direct Indexing L.P. increased its stake in shares of Regeneron Pharmaceuticals by 3.3% during the third quarter. First Trust Direct Indexing L.P. now owns 3,842 shares of the biopharmaceutical company’s stock valued at $4,038,000 after buying an additional 124 shares during the period. New York State Teachers Retirement System lifted its holdings in Regeneron Pharmaceuticals by 0.9% in the third quarter. New York State Teachers Retirement System now owns 100,427 shares of the biopharmaceutical company’s stock valued at $105,573,000 after acquiring an additional 907 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in shares of Regeneron Pharmaceuticals by 5.6% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 109,481 shares of the biopharmaceutical company’s stock worth $115,091,000 after purchasing an additional 5,801 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in Regeneron Pharmaceuticals by 54.6% during the third quarter. China Universal Asset Management Co. Ltd. now owns 14,766 shares of the biopharmaceutical company’s stock worth $15,523,000 after buying an additional 5,216 shares in the last quarter. Finally, Traynor Capital Management Inc. grew its position in shares of Regeneron Pharmaceuticals by 10.2% during the 3rd quarter. Traynor Capital Management Inc. now owns 22,390 shares of the biopharmaceutical company’s stock valued at $23,538,000 after acquiring an additional 2,071 shares during the period. 83.31% of the stock is currently owned by institutional investors.

Regeneron Pharmaceuticals Stock Up 0.6 %

Shares of Regeneron Pharmaceuticals stock traded up $5.56 during trading on Wednesday, hitting $932.89. 165,254 shares of the stock traded hands, compared to its average volume of 504,277. The company has a current ratio of 5.44, a quick ratio of 4.62 and a debt-to-equity ratio of 0.10. The firm has a market cap of $102.84 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 3.20 and a beta of 0.12. The stock’s fifty day simple moving average is $1,077.78 and its 200 day simple moving average is $1,041.48. Regeneron Pharmaceuticals, Inc. has a 52-week low of $772.84 and a 52-week high of $1,211.20.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported $11.56 EPS for the quarter, beating analysts’ consensus estimates of $8.93 by $2.63. The business had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Regeneron Pharmaceuticals had a return on equity of 16.80% and a net margin of 32.04%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $8.79 earnings per share. On average, equities analysts predict that Regeneron Pharmaceuticals, Inc. will post 37.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on REGN. Evercore ISI cut their price objective on shares of Regeneron Pharmaceuticals from $1,250.00 to $1,175.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Leerink Partnrs cut shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. StockNews.com raised Regeneron Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 22nd. Cantor Fitzgerald reissued a “neutral” rating and issued a $1,015.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company lowered their target price on Regeneron Pharmaceuticals from $1,200.00 to $1,050.00 and set an “overweight” rating for the company in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,101.00.

Insider Activity at Regeneron Pharmaceuticals

In other news, VP Jason Pitofsky sold 487 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $1,070.00, for a total transaction of $521,090.00. Following the transaction, the vice president now directly owns 4,204 shares of the company’s stock, valued at $4,498,280. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Regeneron Pharmaceuticals news, VP Jason Pitofsky sold 487 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $1,070.00, for a total transaction of $521,090.00. Following the transaction, the vice president now owns 4,204 shares of the company’s stock, valued at $4,498,280. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Christopher R. Fenimore sold 5,680 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total transaction of $6,846,274.40. Following the transaction, the chief financial officer now directly owns 15,305 shares of the company’s stock, valued at $18,447,575.65. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.48% of the stock is currently owned by corporate 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.