Washington Trust Advisors Inc. Sells 1,880 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Washington Trust Advisors Inc. lowered its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 6.8% in the third quarter, HoldingsChannel.com reports. The fund owned 25,823 shares of the biopharmaceutical company’s stock after selling 1,880 shares during the quarter. Regeneron Pharmaceuticals comprises about 1.4% of Washington Trust Advisors Inc.’s portfolio, making the stock its 19th largest holding. Washington Trust Advisors Inc.’s holdings in Regeneron Pharmaceuticals were worth $19,581,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Western Wealth Management LLC purchased a new stake in Regeneron Pharmaceuticals during the 1st quarter valued at about $26,000. Armstrong Advisory Group Inc. raised its stake in shares of Regeneron Pharmaceuticals by 466.7% in the third quarter. Armstrong Advisory Group Inc. now owns 34 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 28 shares during the last quarter. Activest Wealth Management raised its stake in shares of Regeneron Pharmaceuticals by 780.0% in the third quarter. Activest Wealth Management now owns 44 shares of the biopharmaceutical company’s stock worth $33,000 after purchasing an additional 39 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in shares of Regeneron Pharmaceuticals in the third quarter worth about $34,000. Finally, Mowery & Schoenfeld Wealth Management LLC acquired a new stake in shares of Regeneron Pharmaceuticals during the second quarter worth about $29,000. Institutional investors and hedge funds own 83.31% of the company’s stock.

Key Stories Impacting Regeneron Pharmaceuticals

Here are the key news stories impacting Regeneron Pharmaceuticals this week:

• Positive Sentiment: TD Cowen raised its price target to $980 from $960 while maintaining a positive view of Regeneron, signaling potential upside from current levels. TD Cowen raises target for Regeneron stock
• Positive Sentiment: Analysts and investors continue to point to Regeneron’s growth potential, including strong Dupixent performance and positive Phase 3 OPTIMA results for investigational pasatru in fibrodysplasia ossificans progressiva. The company is also working to build a broader global oncology business. Regeneron growth potential analysis
• Neutral Sentiment: Regeneron is scheduled to report quarterly results next week. Analysts expect earnings to grow, but the company reportedly lacks the typical combination of estimate revisions and other indicators associated with a likely earnings beat, creating uncertainty ahead of the release. Regeneron earnings expectations
• Neutral Sentiment: Recent coverage describes REGN as a relatively steady stock and notes that it gained in the prior session, although it lagged some competitors. This provides limited new information about the company’s fundamentals. Regeneron stock performance versus competitors
• Negative Sentiment: Valuation-related commentary asks whether Regeneron is priced too highly relative to pharmaceutical peers, which could limit near-term upside and encourage profit-taking ahead of earnings. Regeneron valuation versus rivals

Analyst Ratings Changes

REGN has been the topic of a number of recent research reports. Truist Financial upped their target price on Regeneron Pharmaceuticals from $772.00 to $780.00 and gave the company a “buy” rating in a research report on Wednesday, October 7th. The Goldman Sachs Group raised their price target on shares of Regeneron Pharmaceuticals from $965.00 to $972.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Citigroup lifted their price objective on shares of Regeneron Pharmaceuticals from $700.00 to $740.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Morgan Stanley lifted their price objective on shares of Regeneron Pharmaceuticals from $758.00 to $779.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 7th. Finally, Wall Street Zen raised shares of Regeneron Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Sunday, September 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $846.28.

Insider Buying and Selling

In other news, EVP Marion Mccourt sold 1,131 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $857.39, for a total transaction of $969,708.09. Following the sale, the executive vice president owned 12,003 shares of the company’s stock, valued at $10,291,252.17. This trade represents a 8.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andrew Murphy sold 4,147 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Wednesday, October 14th. The shares were sold at an average price of $772.70, for a total transaction of $3,204,386.90. Following the transaction, the insider directly owned 47,833 shares of the company’s stock, valued at approximately $36,960,559.10. This trade represents a 7.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 8,093 shares of company stock worth $6,506,845. 6.97% of the stock is currently owned by company insiders.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN traded down $14.07 during mid-day trading on Friday, reaching $805.02. The company had a trading volume of 527,731 shares, compared to its average volume of 705,231. Regeneron Pharmaceuticals, Inc. has a 52-week low of $575.93 and a 52-week high of $859.34. The company has a quick ratio of 2.78, a current ratio of 3.34 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $82.88 billion, a P/E ratio of 19.90, a PEG ratio of 1.38 and a beta of 0.16. The stock has a 50 day moving average of $791.86 and a two-hundred day moving average of $723.16.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $14.29 EPS for the quarter, topping the consensus estimate of $10.16 by $4.13. The firm had revenue of $4.29 billion for the quarter, compared to analyst estimates of $3.82 billion. Regeneron Pharmaceuticals had a return on equity of 13.47% and a net margin of 27.86%. Regeneron Pharmaceuticals’s revenue for the quarter was up 16.7% compared to the same quarter last year. During the same period last year, the company earned $12.81 earnings per share. On average, analysts expect that Regeneron Pharmaceuticals, Inc. will post 49.10 earnings per share for the current year.

Regeneron Pharmaceuticals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Tuesday, August 18th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.5%. The ex-dividend date was Tuesday, August 18th. Regeneron Pharmaceuticals’s dividend payout ratio is currently 9.29%.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc is a biotechnology company that discovers, develops and commercializes medicines for serious medical conditions. The company uses genetic and antibody-based research technologies to develop treatments in areas including eye diseases, allergic and inflammatory conditions, cancer, cardiovascular disease, infectious diseases and rare disorders.

Its marketed products include Eylea and Eylea HD for retinal diseases, Dupixent for several inflammatory and allergic conditions, Libtayo for certain cancers, Praluent for cardiovascular disease, Kevzara for rheumatoid arthritis, and other medicines such as Inmazeb, Evkeeza, Veopoz and Arcalyst.