Lord Abbett & CO. LLC Cuts Stock Position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Lord Abbett & CO. LLC decreased its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 25.7% in the 3rd quarter, HoldingsChannel reports. The firm owned 64,081 shares of the biopharmaceutical company’s stock after selling 22,151 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Regeneron Pharmaceuticals were worth $67,365,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sachetta LLC lifted its holdings in Regeneron Pharmaceuticals by 71.4% during the 2nd quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 10 shares in the last quarter. Rakuten Securities Inc. increased its position in shares of Regeneron Pharmaceuticals by 380.0% during the third quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 19 shares during the period. Stephens Consulting LLC acquired a new stake in shares of Regeneron Pharmaceuticals in the second quarter valued at $26,000. FSA Wealth Management LLC purchased a new position in Regeneron Pharmaceuticals in the third quarter valued at $26,000. Finally, Family Firm Inc. acquired a new position in Regeneron Pharmaceuticals during the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 83.31% of the company’s stock.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN opened at $731.30 on Friday. The company’s 50 day simple moving average is $849.77 and its 200-day simple moving average is $1,004.02. Regeneron Pharmaceuticals, Inc. has a 12-month low of $728.68 and a 12-month high of $1,211.20. The firm has a market cap of $80.36 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 2.32 and a beta of 0.08. The company has a current ratio of 5.28, a quick ratio of 4.46 and a debt-to-equity ratio of 0.09.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on REGN shares. Wells Fargo & Company reduced their price target on Regeneron Pharmaceuticals from $1,200.00 to $1,050.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. StockNews.com downgraded shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Morgan Stanley dropped their price objective on shares of Regeneron Pharmaceuticals from $1,235.00 to $1,184.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. BMO Capital Markets decreased their price objective on shares of Regeneron Pharmaceuticals from $1,300.00 to $1,190.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Barclays dropped their target price on Regeneron Pharmaceuticals from $1,080.00 to $1,065.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,099.90.

Regeneron Pharmaceuticals Company Profile

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.