New Mexico Educational Retirement Board Sells 600 Shares of Regeneron Pharmaceuticals, Inc. (REGN)
New Mexico Educational Retirement Board cut its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 7.8% during the second quarter, Holdings Channel reports. The fund owned 7,100 shares of the biopharmaceutical company’s stock after selling 600 shares during the period. New Mexico Educational Retirement Board’s holdings in Regeneron Pharmaceuticals were worth $3,491,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Korea Investment CORP boosted its position in shares of Regeneron Pharmaceuticals by 223.9% in the first quarter. Korea Investment CORP now owns 298 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 206 shares during the last quarter. FNY Managed Accounts LLC acquired a new position in shares of Regeneron Pharmaceuticals during the first quarter worth about $140,000. Alpha Windward LLC boosted its position in shares of Regeneron Pharmaceuticals by 4.4% in the first quarter. Alpha Windward LLC now owns 383 shares of the biopharmaceutical company’s stock worth $148,000 after buying an additional 16 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Regeneron Pharmaceuticals by 33.2% in the second quarter. IFP Advisors Inc now owns 385 shares of the biopharmaceutical company’s stock worth $189,000 after buying an additional 96 shares during the last quarter. Finally, Wendell David Associates Inc. acquired a new position in shares of Regeneron Pharmaceuticals during the second quarter worth about $204,000. 66.70% of the stock is currently owned by hedge funds and other institutional investors.
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) opened at 469.68 on Wednesday. Regeneron Pharmaceuticals, Inc. has a 1-year low of $325.35 and a 1-year high of $543.55. The stock’s 50 day moving average is $499.39 and its 200 day moving average is $422.69. The firm has a market capitalization of $49.58 billion, a price-to-earnings ratio of 56.86 and a beta of 1.66.
Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported $4.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.67 by $1.50. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.36 billion. Regeneron Pharmaceuticals had a net margin of 22.05% and a return on equity of 25.58%. The firm’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.82 earnings per share. Analysts predict that Regeneron Pharmaceuticals, Inc. will post $14.84 EPS for the current fiscal year.
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A number of equities analysts have issued reports on the stock. BMO Capital Markets raised their price objective on shares of Regeneron Pharmaceuticals from $412.00 to $421.00 and gave the company a “hold” rating in a research note on Monday, May 15th. Leerink Swann reaffirmed an “outperform” rating and issued a $580.00 price objective (up from $573.00) on shares of Regeneron Pharmaceuticals in a research note on Wednesday. Vetr cut shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $408.86 price objective on the stock. in a research note on Monday, April 24th. UBS AG set a $489.00 price objective on shares of Regeneron Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, May 5th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Regeneron Pharmaceuticals in a research note on Wednesday, June 14th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twelve have given a buy rating to the company’s stock. Regeneron Pharmaceuticals currently has an average rating of “Hold” and an average target price of $479.83.
In other news, Director Michael S. Brown sold 3,000 shares of the stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $450.00, for a total value of $1,350,000.00. Following the completion of the sale, the director now owns 3,000 shares in the company, valued at $1,350,000. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman P Roy Vagelos sold 9,295 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $458.14, for a total transaction of $4,258,411.30. Following the completion of the sale, the chairman now owns 414,156 shares of the company’s stock, valued at approximately $189,741,429.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,396 shares of company stock valued at $28,484,734. 10.40% of the stock is currently owned by corporate insiders.
About Regeneron Pharmaceuticals
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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