Regeneron Pharmaceuticals (NASDAQ:REGN) Shares Down 3.2% After Insider Selling

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)’s stock price dropped 3.2% during mid-day trading on Wednesday following insider selling activity. The stock traded as low as $1,011.75 and last traded at $1,011.75. Approximately 102,833 shares traded hands during trading, a decline of 78% from the average daily volume of 475,243 shares. The stock had previously closed at $1,044.66.

Specifically, Director Bonnie L. Bassler sold 756 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $1,062.00, for a total transaction of $802,872.00. Following the transaction, the director now directly owns 1,382 shares in the company, valued at approximately $1,467,684. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, EVP Marion Mccourt sold 1,137 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,047.11, for a total transaction of $1,190,564.07. Following the completion of the transaction, the executive vice president now directly owns 12,931 shares of the company’s stock, valued at approximately $13,540,179.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Bonnie L. Bassler sold 756 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $1,062.00, for a total transaction of $802,872.00. Following the transaction, the director now directly owns 1,382 shares of the company’s stock, valued at $1,467,684. The disclosure for this sale can be found here. In the last three months, insiders have sold 63,208 shares of company stock worth $62,514,142. Company insiders own 7.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $1,229.00 price target on shares of Regeneron Pharmaceuticals in a research note on Monday, June 24th. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $925.00 price target on shares of Regeneron Pharmaceuticals in a research note on Friday, May 3rd. Argus raised their price target on shares of Regeneron Pharmaceuticals from $1,060.00 to $1,170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. Sanford C. Bernstein started coverage on Regeneron Pharmaceuticals in a report on Tuesday, March 12th. They issued an “outperform” rating and a $1,125.00 price objective for the company. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $1,152.00 price objective on shares of Regeneron Pharmaceuticals in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,027.55.

Regeneron Pharmaceuticals Stock Performance

The stock has a market cap of $111.91 billion, a P/E ratio of 30.52, a PEG ratio of 2.17 and a beta of 0.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.27 and a quick ratio of 4.51. The stock has a 50-day simple moving average of $990.15 and a 200-day simple moving average of $954.11.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly 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 for the quarter, compared to the consensus estimate of $3.19 billion. Regeneron Pharmaceuticals had a return on equity of 16.83% and a net margin of 29.45%. Research analysts forecast that Regeneron Pharmaceuticals, Inc. will post 37.23 earnings per share for the current year.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. West Paces Advisors Inc. lifted its stake in shares of Regeneron Pharmaceuticals by 575.0% in the first quarter. West Paces Advisors Inc. now owns 27 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 23 shares during the period. Crewe Advisors LLC bought a new stake in shares of Regeneron Pharmaceuticals during the first quarter valued at approximately $28,000. Fortitude Family Office LLC bought a new stake in shares of Regeneron Pharmaceuticals during the fourth quarter valued at approximately $31,000. MCF Advisors LLC increased its holdings in shares of Regeneron Pharmaceuticals by 50.0% during 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. Finally, Criterion Capital Advisors LLC bought a new stake in Regeneron Pharmaceuticals during the fourth quarter worth $37,000. 83.31% of the stock is owned by institutional investors and hedge funds.

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.