Sector Gamma AS raised its position in Regeneron Pharmaceuticals Inc (NASDAQ:REGN) by 31.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,835 shares of the biopharmaceutical company’s stock after acquiring an additional 18,200 shares during the quarter. Regeneron Pharmaceuticals makes up about 3.6% of Sector Gamma AS’s holdings, making the stock its 9th biggest holding. Sector Gamma AS owned about 0.07% of Regeneron Pharmaceuticals worth $21,037,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Bridger Capital Management LLC purchased a new stake in shares of Regeneron Pharmaceuticals during the 3rd quarter worth approximately $30,000. Accurate Investment Solutions Inc. purchased a new stake in shares of Regeneron Pharmaceuticals during the 2nd quarter worth approximately $31,000. HM Payson & Co. purchased a new stake in shares of Regeneron Pharmaceuticals during the 2nd quarter worth approximately $31,000. Coastal Capital Group Inc. purchased a new stake in shares of Regeneron Pharmaceuticals during the 2nd quarter worth approximately $38,000. Finally, Focused Wealth Management Inc lifted its position in shares of Regeneron Pharmaceuticals by 1,333.3% during the 2nd quarter. Focused Wealth Management Inc now owns 129 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 120 shares during the last quarter. Institutional investors own 66.56% of the company’s stock.
Shares of Regeneron Pharmaceuticals stock traded up $15.40 during trading on Friday, reaching $341.79. The company’s stock had a trading volume of 1,106,100 shares, compared to its average volume of 772,436. The company has a current ratio of 2.91, a quick ratio of 3.11 and a debt-to-equity ratio of 0.07. Regeneron Pharmaceuticals Inc has a fifty-two week low of $271.37 and a fifty-two week high of $442.00. The company has a 50-day moving average price of $298.74 and a two-hundred day moving average price of $304.30. The firm has a market cap of $36.53 billion, a PE ratio of 17.26, a P/E/G ratio of 1.46 and a beta of 1.14.
Regeneron Pharmaceuticals declared that its board has initiated a share repurchase plan on Tuesday, November 5th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the biopharmaceutical company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
REGN has been the subject of several recent analyst reports. Robert W. Baird upgraded shares of Regeneron Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $410.00 price objective for the company in a research report on Wednesday, August 7th. Citigroup upgraded shares of Regeneron Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $340.00 to $420.00 in a research report on Wednesday. Cowen set a $349.00 price objective on shares of Regeneron Pharmaceuticals and gave the stock a “hold” rating in a research report on Tuesday, October 8th. Guggenheim upgraded shares of Regeneron Pharmaceuticals from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $355.00 to $403.00 in a research report on Monday, September 23rd. Finally, Credit Suisse Group boosted their price objective on shares of Regeneron Pharmaceuticals from $310.00 to $340.00 and gave the stock a “neutral” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $392.06.
In other Regeneron Pharmaceuticals news, Director Joseph L. Goldstein sold 1,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $340.44, for a total transaction of $340,440.00. Following the completion of the transaction, the director now directly owns 10,323 shares of the company’s stock, valued at approximately $3,514,362.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Sanofi sold 172,904 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $281.15, for a total transaction of $48,611,959.60. Insiders own 11.84% of the company’s stock.
Regeneron Pharmaceuticals Profile
Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for treating various medical conditions worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema (DME); myopic choroidal neovascularization; and diabetic retinopathy in patients with DME, as well as macular edema following retinal vein occlusion, including macular edema following central retinal vein occlusion and macular edema following branch retinal vein occlusion.
Read More: What is a dead cat bounce?
Receive News & Ratings for Regeneron Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regeneron Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.