State of Alaska Department of Revenue Sells 1,895 Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

State of Alaska Department of Revenue reduced its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 8.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,239 shares of the biopharmaceutical company’s stock after selling 1,895 shares during the period. State of Alaska Department of Revenue’s holdings in Regeneron Pharmaceuticals were worth $20,440,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new position in Regeneron Pharmaceuticals during the fourth quarter valued at $932,571,000. International Assets Investment Management LLC grew its stake in shares of Regeneron Pharmaceuticals by 76,169.5% during the 4th quarter. International Assets Investment Management LLC now owns 591,089 shares of the biopharmaceutical company’s stock worth $519,148,000 after acquiring an additional 590,314 shares during the period. Global Assets Advisory LLC purchased a new stake in Regeneron Pharmaceuticals in the 1st quarter worth about $339,594,000. First Trust Advisors LP raised its stake in Regeneron Pharmaceuticals by 115.2% in the 4th quarter. First Trust Advisors LP now owns 365,950 shares of the biopharmaceutical company’s stock valued at $321,410,000 after acquiring an additional 195,902 shares during the period. Finally, abrdn plc raised its stake in Regeneron Pharmaceuticals by 552.8% in the 4th quarter. abrdn plc now owns 219,900 shares of the biopharmaceutical company’s stock valued at $193,136,000 after acquiring an additional 186,215 shares during the period. Hedge funds and other institutional investors own 83.31% of the company’s stock.

Regeneron Pharmaceuticals Price Performance

REGN traded down $20.57 during trading on Wednesday, reaching $1,024.09. The stock had a trading volume of 378,341 shares, compared to its average volume of 477,749. The business has a 50-day moving average of $990.15 and a 200-day moving average of $954.11. Regeneron Pharmaceuticals, Inc. has a one year low of $688.52 and a one year high of $1,081.17. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.51 and a current ratio of 5.27. The stock has a market cap of $112.84 billion, a PE ratio of 30.25, a PEG ratio of 2.17 and a beta of 0.13.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported $7.97 EPS 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 net margin of 29.45% and a return on equity of 16.83%. As a group, equities research analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 37.23 EPS for the current fiscal year.

Insider Buying and Selling at Regeneron Pharmaceuticals

In other news, CEO Leonard S. Schleifer sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $979.25, for a total value of $24,481,250.00. Following the completion of the sale, the chief executive officer now directly owns 408,200 shares in the company, valued at approximately $399,729,850. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Leonard S. Schleifer sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $979.25, for a total transaction of $24,481,250.00. Following the transaction, the chief executive officer now directly owns 408,200 shares of the company’s stock, valued at $399,729,850. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bonnie L. Bassler sold 756 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $1,062.00, for a total value of $802,872.00. Following the completion of the sale, the director now directly owns 1,382 shares of the company’s stock, valued at approximately $1,467,684. The disclosure for this sale can be found here. Insiders have sold 63,208 shares of company stock worth $62,514,142 over the last ninety days. Insiders own 7.48% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on REGN. Evercore ISI began coverage on shares of Regeneron Pharmaceuticals in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $1,150.00 target price for the company. UBS Group lifted their price objective on shares of 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. Sanford C. Bernstein initiated coverage on shares of Regeneron Pharmaceuticals in a report on Tuesday, March 12th. They set an “outperform” rating and a $1,125.00 target price on the stock. Bank of America raised their price target on Regeneron Pharmaceuticals from $710.00 to $720.00 and gave the stock an “underperform” rating in a report on Friday, April 12th. Finally, Argus boosted their price objective on Regeneron Pharmaceuticals from $1,060.00 to $1,170.00 and gave the company a “buy” rating in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given 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 $1,027.55.

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.