Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Shares Sold by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC trimmed its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 28.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,614 shares of the biopharmaceutical company’s stock after selling 1,457 shares during the period. Cornerstone Wealth Group LLC’s holdings in Regeneron Pharmaceuticals were worth $3,478,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Regeneron Pharmaceuticals in the 4th quarter valued at about $932,571,000. International Assets Investment Management LLC lifted its position in Regeneron Pharmaceuticals by 76,169.5% during the 4th quarter. International Assets Investment Management LLC now owns 591,089 shares of the biopharmaceutical company’s stock worth $519,148,000 after acquiring an additional 590,314 shares in the last quarter. Global Assets Advisory LLC acquired a new position in Regeneron Pharmaceuticals during the 1st quarter worth approximately $339,594,000. First Trust Advisors LP lifted its position in Regeneron Pharmaceuticals by 115.2% during the 4th quarter. First Trust Advisors LP now owns 365,950 shares of the biopharmaceutical company’s stock worth $321,410,000 after acquiring an additional 195,902 shares in the last quarter. Finally, abrdn plc lifted its position in Regeneron Pharmaceuticals by 552.8% during the 4th quarter. abrdn plc now owns 219,900 shares of the biopharmaceutical company’s stock worth $193,136,000 after acquiring an additional 186,215 shares in the last quarter. 83.31% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Michael S. Brown sold 1,172 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $974.86, for a total transaction of $1,142,535.92. Following the completion of the sale, the director now owns 1,382 shares in the company, valued at approximately $1,347,256.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Leonard S. Schleifer sold 22,830 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $979.23, for a total transaction of $22,355,820.90. Following the completion of the sale, the chief executive officer now owns 466,877 shares in the company, valued at approximately $457,179,964.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael S. Brown sold 1,172 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $974.86, for a total value of $1,142,535.92. Following the completion of the sale, the director now owns 1,382 shares of the company’s stock, valued at approximately $1,347,256.52. The disclosure for this sale can be found here. Insiders have sold a total of 61,971 shares of company stock valued at $61,217,654 in the last three months. Insiders own 7.48% of the company’s stock.

Regeneron Pharmaceuticals Stock Performance

REGN stock traded up $0.17 during trading on Friday, reaching $1,051.03. 750,619 shares of the company’s stock were exchanged, compared to its average volume of 469,667. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.10. Regeneron Pharmaceuticals, Inc. has a 1-year low of $688.52 and a 1-year high of $1,081.17. The company’s fifty day moving average price is $984.27 and its 200-day moving average price is $951.01. The firm has a market cap of $115.81 billion, a PE ratio of 31.05, a P/E/G ratio of 2.17 and a beta of 0.13.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Thursday, May 2nd. The biopharmaceutical company reported $7.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.46 by ($0.49). The company had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.19 billion. Regeneron Pharmaceuticals had a return on equity of 16.83% and a net margin of 29.45%. On average, research analysts expect that Regeneron Pharmaceuticals, Inc. will post 37.23 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. StockNews.com lowered Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 30th. Sanford C. Bernstein assumed coverage on Regeneron Pharmaceuticals in a report on Tuesday, March 12th. They set an “outperform” rating and a $1,125.00 price objective on the stock. UBS Group lifted their price objective on Regeneron Pharmaceuticals from $1,090.00 to $1,099.00 and gave the stock a “buy” rating in a report on Wednesday, April 17th. Morgan Stanley lifted their price objective on Regeneron Pharmaceuticals from $1,104.00 to $1,115.00 and gave the stock an “overweight” rating in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Regeneron Pharmaceuticals from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,027.55.

Regeneron Pharmaceuticals 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.