Montecito Bank & Trust Grows Position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Montecito Bank & Trust grew its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 8.9% during the second quarter, Holdings Channel.com reports. The fund owned 588 shares of the biopharmaceutical company’s stock after purchasing an additional 48 shares during the quarter. Montecito Bank & Trust’s holdings in Regeneron Pharmaceuticals were worth $618,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. West Paces Advisors Inc. grew its position in Regeneron Pharmaceuticals by 575.0% in the 1st quarter. West Paces Advisors Inc. now owns 27 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 23 shares in the last quarter. Crewe Advisors LLC bought a new position in shares of Regeneron Pharmaceuticals during the 1st quarter valued at approximately $28,000. MCF Advisors LLC lifted its stake in 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 purchasing an additional 12 shares during the last quarter. Lynx Investment Advisory purchased a new stake in Regeneron Pharmaceuticals in the second quarter worth $33,000. Finally, Criterion Capital Advisors LLC bought a new stake in shares of Regeneron Pharmaceuticals in the fourth quarter valued at $37,000. Institutional investors own 83.31% of the company’s stock.

Insider Transactions at Regeneron Pharmaceuticals

In other Regeneron Pharmaceuticals news, Director Michael S. Brown sold 1,172 shares of the company’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 transaction of $1,142,535.92. Following the sale, the director now directly owns 1,382 shares in the company, valued at $1,347,256.52. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Regeneron Pharmaceuticals news, Director Arthur F. Ryan sold 100 shares of Regeneron Pharmaceuticals stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,059.24, for a total transaction of $105,924.00. Following the completion of the sale, the director now owns 17,882 shares of the company’s stock, valued at approximately $18,941,329.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael S. Brown sold 1,172 shares of the stock in a transaction on 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 sale, the director now directly owns 1,382 shares in the company, valued at $1,347,256.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,731 shares of company stock valued at $18,230,142. 7.48% of the stock is currently owned by insiders.

Regeneron Pharmaceuticals Price Performance

Shares of NASDAQ REGN traded up $2.45 during mid-day trading on Friday, reaching $1,177.78. The company’s stock had a trading volume of 128,897 shares, compared to its average volume of 471,301. Regeneron Pharmaceuticals, Inc. has a 52 week low of $769.19 and a 52 week high of $1,179.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.44 and a quick ratio of 4.62. The firm has a market capitalization of $129.77 billion, a PE ratio of 34.72, a P/E/G ratio of 2.99 and a beta of 0.13. The stock has a fifty day moving average of $1,067.37 and a two-hundred day moving average of $993.56.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Truist Financial reissued a “buy” rating and issued a $1,200.00 price objective (up previously from $1,135.00) on shares of Regeneron Pharmaceuticals in a report on Friday, August 2nd. Piper Sandler lifted their price objective on shares of 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. TD Cowen raised their price target on Regeneron Pharmaceuticals from $1,030.00 to $1,200.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Morgan Stanley decreased their price target on Regeneron Pharmaceuticals from $1,183.00 to $1,182.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Finally, 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 report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Regeneron Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $1,097.05.

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.