Lord Abbett & CO. LLC Buys New Stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Lord Abbett & CO. LLC acquired a new position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 46,282 shares of the biopharmaceutical company’s stock, valued at approximately $44,546,000.

Several other institutional investors and hedge funds also recently bought and sold shares of REGN. West Paces Advisors Inc. boosted its stake in Regeneron Pharmaceuticals by 575.0% during the first quarter. West Paces Advisors Inc. now owns 27 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 23 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of Regeneron Pharmaceuticals during the fourth quarter valued at $31,000. MCF Advisors LLC raised its holdings in shares of Regeneron Pharmaceuticals by 50.0% in the fourth quarter. MCF Advisors LLC now owns 36 shares of the biopharmaceutical company’s stock valued at $32,000 after acquiring an additional 12 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of Regeneron Pharmaceuticals in the fourth quarter valued at about $37,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in shares of Regeneron Pharmaceuticals in the first quarter valued at about $37,000. 83.31% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Regeneron Pharmaceuticals

In other news, EVP Joseph J. Larosa sold 1,866 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,088.95, for a total value of $2,031,980.70. Following the transaction, the executive vice president now directly owns 37,937 shares in the company, valued at approximately $41,311,496.15. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Regeneron Pharmaceuticals news, EVP Joseph J. Larosa sold 1,866 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,088.95, for a total value of $2,031,980.70. Following the sale, the executive vice president now directly owns 37,937 shares of the company’s stock, valued at approximately $41,311,496.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Leonard S. Schleifer sold 22,830 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $979.23, for a total transaction of $22,355,820.90. Following the completion of the transaction, the chief executive officer now owns 466,877 shares of the company’s stock, valued at approximately $457,179,964.71. The disclosure for this sale can be found here. Insiders have sold 65,074 shares of company stock worth $64,546,123 in the last ninety days. 7.48% of the stock is owned by insiders.

Analyst Ratings Changes

REGN has been the subject of several recent research reports. Guggenheim lifted their price objective on Regeneron Pharmaceuticals from $1,040.00 to $1,180.00 and gave the company a “buy” rating in a report on Thursday. Piper Sandler lifted their price objective on Regeneron Pharmaceuticals from $1,000.00 to $1,166.00 and gave the company an “overweight” rating in a report on Friday. Barclays lifted their price objective on Regeneron Pharmaceuticals from $1,050.00 to $1,200.00 and gave the company an “overweight” rating in a report on Wednesday, July 10th. Morgan Stanley decreased their price objective on Regeneron Pharmaceuticals from $1,183.00 to $1,182.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Finally, Truist Financial restated a “buy” rating and issued a $1,135.00 price objective on shares of Regeneron Pharmaceuticals in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Regeneron Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,063.82.

Regeneron Pharmaceuticals Stock Performance

Shares of NASDAQ:REGN traded down $3.66 on Friday, hitting $1,063.60. 451,882 shares of the company were exchanged, compared to its average volume of 470,553. Regeneron Pharmaceuticals, Inc. has a 1-year low of $720.00 and a 1-year high of $1,106.16. The stock’s 50 day moving average price is $1,023.27 and its 200 day moving average price is $970.10. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $117.20 billion, a P/E ratio of 31.45, a price-to-earnings-growth ratio of 2.25 and a beta of 0.13.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its earnings results on Thursday, May 2nd. The biopharmaceutical company reported $7.97 earnings per share for the quarter, missing the consensus estimate of $8.46 by ($0.49). The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.19 billion. Regeneron Pharmaceuticals had a net margin of 29.45% and a return on equity of 16.83%. Sell-side analysts predict that Regeneron Pharmaceuticals, Inc. will post 37.17 EPS for the current year.

About Regeneron Pharmaceuticals

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.