Elevation Point Wealth Partners LLC Makes New $724,000 Investment in Regeneron Pharmaceuticals, Inc. $REGN

Elevation Point Wealth Partners LLC bought a new position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) during the second quarter, HoldingsChannel.com reports. The fund bought 1,241 shares of the biopharmaceutical company’s stock, valued at approximately $724,000.

Several other institutional investors and hedge funds have also recently modified their holdings of REGN. BlackRock Inc. purchased a new position in Regeneron Pharmaceuticals in the second quarter worth about $5,682,636,000. Norges Bank purchased a new stake in shares of Regeneron Pharmaceuticals during the fourth quarter valued at approximately $1,012,296,000. Price T Rowe Associates Inc. MD increased its position in shares of Regeneron Pharmaceuticals by 142.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,949,797 shares of the biopharmaceutical company’s stock valued at $1,504,991,000 after acquiring an additional 1,144,887 shares in the last quarter. Nuveen LLC increased its position in shares of Regeneron Pharmaceuticals by 71.1% during the fourth quarter. Nuveen LLC now owns 2,010,517 shares of the biopharmaceutical company’s stock valued at $1,551,858,000 after acquiring an additional 835,240 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Regeneron Pharmaceuticals in the 2nd quarter worth approximately $472,950,000. 83.31% of the stock is currently owned by institutional investors.

Regeneron Pharmaceuticals Stock Performance

REGN stock opened at $828.50 on Tuesday. The company has a market cap of $85.30 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 1.42 and a beta of 0.22. Regeneron Pharmaceuticals, Inc. has a 1 year low of $541.00 and a 1 year high of $847.00. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.34 and a quick ratio of 2.78. The stock’s fifty day moving average price is $701.36 and its 200-day moving average price is $716.94.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Thursday, July 30th. The biopharmaceutical company reported $14.29 EPS for the quarter, beating analysts’ consensus estimates of $10.16 by $4.13. The business had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $3.82 billion. Regeneron Pharmaceuticals had a net margin of 27.86% and a return on equity of 13.47%. The firm’s revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the company earned $12.81 earnings per share. On average, equities analysts forecast that Regeneron Pharmaceuticals, Inc. will post 44.25 earnings per share for the current year.

Regeneron Pharmaceuticals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Tuesday, August 18th will be given a dividend of $0.94 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $3.76 dividend on an annualized basis and a yield of 0.5%. Regeneron Pharmaceuticals’s dividend payout ratio (DPR) is presently 9.29%.

Insider Buying and Selling at Regeneron Pharmaceuticals

In other Regeneron Pharmaceuticals news, Director Arthur F. Ryan sold 200 shares of the stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $650.15, for a total transaction of $130,030.00. Following the completion of the sale, the director directly owned 17,303 shares of the company’s stock, valued at approximately $11,249,545.45. This represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Huda Y. Zoghbi sold 800 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $800.00, for a total transaction of $640,000.00. Following the completion of the transaction, the director directly owned 1,703 shares in the company, valued at approximately $1,362,400. The trade was a 31.96% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,400 shares of company stock valued at $1,090,030. 6.97% of the stock is currently owned by insiders.

Analyst Ratings Changes

REGN has been the topic of several analyst reports. Sanford C. Bernstein raised Regeneron Pharmaceuticals to a “hold” rating in a research report on Wednesday, July 29th. JPMorgan Chase & Co. reduced their target price on Regeneron Pharmaceuticals from $950.00 to $850.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Cantor Fitzgerald upped their price target on Regeneron Pharmaceuticals from $750.00 to $795.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Wells Fargo & Company increased their price objective on Regeneron Pharmaceuticals from $700.00 to $750.00 and gave the company an “equal weight” rating in a research report on Friday, July 31st. Finally, Truist Financial lifted their price objective on Regeneron Pharmaceuticals from $769.00 to $772.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Sixteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $801.70.

Regeneron Pharmaceuticals Profile

Regeneron Pharmaceuticals, Inc (NASDAQ: REGN) is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.