Keynote Financial Services LLC Buys Shares of 500 Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Keynote Financial Services LLC bought a new stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) in the first quarter, Holdings Channel reports. The fund bought 500 shares of the biopharmaceutical company’s stock, valued at approximately $481,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Regeneron Pharmaceuticals by 1.0% in the first quarter. Vanguard Group Inc. now owns 8,930,241 shares of the biopharmaceutical company’s stock worth $8,595,268,000 after acquiring an additional 91,956 shares during the period. Capital World Investors boosted its position in shares of Regeneron Pharmaceuticals by 0.5% during the fourth quarter. Capital World Investors now owns 5,130,485 shares of the biopharmaceutical company’s stock worth $4,506,071,000 after buying an additional 23,146 shares during the period. Capital International Investors boosted its position in shares of Regeneron Pharmaceuticals by 7.3% during the first quarter. Capital International Investors now owns 3,129,010 shares of the biopharmaceutical company’s stock worth $3,011,640,000 after buying an additional 213,038 shares during the period. Putnam Investments LLC boosted its position in shares of Regeneron Pharmaceuticals by 2.1% during the fourth quarter. Putnam Investments LLC now owns 1,210,735 shares of the biopharmaceutical company’s stock worth $1,063,377,000 after buying an additional 24,329 shares during the period. Finally, Norges Bank purchased a new position in shares of Regeneron Pharmaceuticals during the fourth quarter worth $932,571,000. Institutional investors and hedge funds own 83.31% of the company’s stock.

Insider Buying and Selling

In related news, EVP Joseph J. Larosa sold 1,866 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $1,088.95, for a total transaction of $2,031,980.70. Following the transaction, the executive vice president now owns 37,937 shares of the company’s stock, valued at $41,311,496.15. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Regeneron Pharmaceuticals news, Director Michael S. Brown sold 1,172 shares of Regeneron Pharmaceuticals 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 sale, the director now owns 1,382 shares of the company’s stock, valued at approximately $1,347,256.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joseph J. Larosa sold 1,866 shares of Regeneron Pharmaceuticals 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 completion of the sale, the executive vice president now directly owns 37,937 shares in the company, valued at approximately $41,311,496.15. The disclosure for this sale can be found here. Insiders have sold a total of 65,074 shares of company stock valued at $64,546,123 over the last quarter. 7.48% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

REGN has been the subject of several research analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $1,152.00 price target on shares of Regeneron Pharmaceuticals in a research report on Thursday, June 27th. Piper Sandler increased their price objective on Regeneron Pharmaceuticals from $1,000.00 to $1,166.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Bank of America increased their price objective on Regeneron Pharmaceuticals from $710.00 to $720.00 and gave the company an “underperform” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. increased their price objective on Regeneron Pharmaceuticals from $1,150.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Friday. Finally, UBS Group increased their price objective on Regeneron Pharmaceuticals from $1,090.00 to $1,099.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,097.05.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN traded down $10.95 during midday trading on Friday, reaching $1,082.19. 646,247 shares of the stock were exchanged, compared to its average volume of 415,793. The business’s 50-day moving average price is $1,043.43 and its 200 day moving average price is $982.79. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.96 and a quick ratio of 4.51. Regeneron Pharmaceuticals, Inc. has a twelve month low of $759.15 and a twelve month high of $1,115.00. The company has a market capitalization of $119.25 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 2.34 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 EPS for the quarter, missing analysts’ consensus estimates of $8.46 by ($0.49). Regeneron Pharmaceuticals had a return on equity of 16.80% and a net margin of 32.04%. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.19 billion. On average, sell-side analysts expect that Regeneron Pharmaceuticals, Inc. will post 37.38 EPS for the current fiscal 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.