Parallel Advisors LLC Boosts Stock Holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Parallel Advisors LLC increased its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 8.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,251 shares of the biopharmaceutical company’s stock after acquiring an additional 100 shares during the period. Parallel Advisors LLC’s holdings in Regeneron Pharmaceuticals were worth $1,315,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dai ichi Life Insurance Company Ltd lifted its holdings in shares of Regeneron Pharmaceuticals by 0.8% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 14,775 shares of the biopharmaceutical company’s stock valued at $15,529,000 after purchasing an additional 111 shares in the last quarter. CoreCap Advisors LLC purchased a new position in Regeneron Pharmaceuticals in the 2nd quarter worth about $329,000. HBK Sorce Advisory LLC bought a new position in Regeneron Pharmaceuticals during the 2nd quarter valued at about $204,000. Meeder Advisory Services Inc. boosted its holdings in shares of Regeneron Pharmaceuticals by 41.9% during the 2nd quarter. Meeder Advisory Services Inc. now owns 1,869 shares of the biopharmaceutical company’s stock valued at $1,964,000 after acquiring an additional 552 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in shares of Regeneron Pharmaceuticals by 0.8% in the second quarter. Oppenheimer & Co. Inc. now owns 10,339 shares of the biopharmaceutical company’s stock worth $10,867,000 after acquiring an additional 80 shares during the period. 83.31% of the stock is owned by institutional investors.

Insider Transactions at Regeneron Pharmaceuticals

In other Regeneron Pharmaceuticals news, CFO Christopher R. Fenimore sold 5,680 shares of Regeneron Pharmaceuticals stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the sale, the chief financial officer now directly owns 15,305 shares in the company, valued at approximately $18,447,575.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Bonnie L. Bassler sold 756 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $1,062.00, for a total transaction of $802,872.00. Following the completion of the transaction, the director now directly owns 1,382 shares in the company, valued at approximately $1,467,684. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher R. Fenimore sold 5,680 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $1,205.33, for a total transaction of $6,846,274.40. Following the completion of the sale, the chief financial officer now owns 15,305 shares in the company, valued at approximately $18,447,575.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,026 shares of company stock valued at $11,498,705. 7.48% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on REGN. Canaccord Genuity Group restated a “buy” rating and set a $1,152.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Thursday, June 27th. Truist Financial restated a “buy” rating and issued a $1,200.00 price target (up from $1,135.00) on shares of Regeneron Pharmaceuticals in a research note on Friday, August 2nd. Argus increased their target price on Regeneron Pharmaceuticals from $1,060.00 to $1,170.00 and gave the company a “buy” rating in a report on Tuesday, June 25th. Guggenheim boosted their price target on Regeneron Pharmaceuticals from $1,180.00 to $1,300.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $1,250.00 price target on shares of Regeneron Pharmaceuticals in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,109.70.

Regeneron Pharmaceuticals Price Performance

NASDAQ:REGN opened at $1,153.35 on Monday. The business’s 50-day simple moving average is $1,124.22 and its two-hundred day simple moving average is $1,026.46. Regeneron Pharmaceuticals, Inc. has a 52 week low of $769.19 and a 52 week high of $1,211.20. The stock has a market cap of $127.08 billion, a PE ratio of 34.07, a P/E/G ratio of 3.97 and a beta of 0.12. The company has a quick ratio of 4.62, a current ratio of 5.44 and a debt-to-equity ratio of 0.10.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported $11.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.93 by $2.63. Regeneron Pharmaceuticals had a return on equity of 16.80% and a net margin of 32.04%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the company earned $8.79 EPS. The firm’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, analysts forecast that Regeneron Pharmaceuticals, Inc. will post 37.8 EPS for the current fiscal year.

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.