Norden Group LLC Acquires 6,740 Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Norden Group LLC grew its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 2,572.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,002 shares of the biopharmaceutical company’s stock after purchasing an additional 6,740 shares during the quarter. Norden Group LLC’s holdings in Regeneron Pharmaceuticals were worth $6,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of REGN. Norges Bank bought a new position in shares of Regeneron Pharmaceuticals in the fourth quarter worth approximately $932,571,000. International Assets Investment Management LLC boosted its position in shares of Regeneron Pharmaceuticals by 76,169.5% in the fourth quarter. International Assets Investment Management LLC now owns 591,089 shares of the biopharmaceutical company’s stock worth $519,148,000 after purchasing an additional 590,314 shares during the period. Global Assets Advisory LLC bought a new position in shares of Regeneron Pharmaceuticals in the first quarter worth approximately $339,594,000. First Trust Advisors LP boosted its position in shares of Regeneron Pharmaceuticals by 115.2% during the fourth quarter. First Trust Advisors LP now owns 365,950 shares of the biopharmaceutical company’s stock worth $321,410,000 after acquiring an additional 195,902 shares during the last quarter. Finally, abrdn plc boosted its position in shares of Regeneron Pharmaceuticals by 552.8% during the fourth quarter. abrdn plc now owns 219,900 shares of the biopharmaceutical company’s stock worth $193,136,000 after acquiring an additional 186,215 shares during the last quarter. 83.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on REGN shares. Truist Financial restated a “buy” rating and set a $1,135.00 target price on shares of Regeneron Pharmaceuticals in a research report on Wednesday, April 3rd. Evercore ISI started coverage on shares of Regeneron Pharmaceuticals in a research report on Tuesday, May 14th. They set an “outperform” rating and a $1,150.00 target price for the company. UBS Group upped their target price on shares of Regeneron Pharmaceuticals from $1,090.00 to $1,099.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. StockNews.com lowered shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $1,229.00 target price on shares of Regeneron Pharmaceuticals in a research report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Regeneron Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $1,027.55.

Insider Buying and Selling

In related news, EVP Marion Mccourt sold 1,137 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $1,047.11, for a total value of $1,190,564.07. Following the transaction, the executive vice president now owns 12,931 shares of the company’s stock, valued at approximately $13,540,179.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Marion Mccourt sold 1,137 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $1,047.11, for a total value of $1,190,564.07. Following the transaction, the executive vice president now owns 12,931 shares of the company’s stock, valued at approximately $13,540,179.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael S. Brown sold 1,172 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 1,382 shares in the company, valued at approximately $1,347,256.52. The disclosure for this sale can be found here. Insiders have sold 63,208 shares of company stock valued at $62,514,142 in the last 90 days. Company insiders own 7.48% of the company’s stock.

Regeneron Pharmaceuticals Trading Down 2.0 %

Shares of REGN opened at $1,024.09 on Friday. Regeneron Pharmaceuticals, Inc. has a twelve month low of $688.52 and a twelve month high of $1,081.17. The company has a market cap of $112.84 billion, a P/E ratio of 30.25, a P/E/G ratio of 2.12 and a beta of 0.13. The company has a current ratio of 5.27, a quick ratio of 4.51 and a debt-to-equity ratio of 0.10. The company’s fifty day simple moving average is $992.50 and its 200-day simple moving average is $954.60.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its 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). Regeneron Pharmaceuticals had a net margin of 29.45% and a return on equity of 16.83%. The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.19 billion. As a group, analysts expect that Regeneron Pharmaceuticals, Inc. will post 37.23 EPS for the current year.

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.