Thoroughbred Financial Services LLC Acquires New Shares in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Thoroughbred Financial Services LLC acquired a new stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 490 shares of the biopharmaceutical company’s stock, valued at approximately $515,000.

A number of other institutional investors also recently added to or reduced their stakes in REGN. Global Assets Advisory LLC bought a new stake in shares of Regeneron Pharmaceuticals in the 1st quarter worth $339,594,000. Capital International Investors raised its position in Regeneron Pharmaceuticals by 7.3% during the first quarter. Capital International Investors now owns 3,129,010 shares of the biopharmaceutical company’s stock valued at $3,011,640,000 after buying an additional 213,038 shares during the period. First Trust Advisors LP raised its position in Regeneron Pharmaceuticals by 115.2% during the fourth quarter. First Trust Advisors LP now owns 365,950 shares of the biopharmaceutical company’s stock valued at $321,410,000 after buying an additional 195,902 shares during the period. Price T Rowe Associates Inc. MD raised its position in Regeneron Pharmaceuticals by 25.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 902,613 shares of the biopharmaceutical company’s stock valued at $868,757,000 after buying an additional 184,561 shares during the period. Finally, TD Asset Management Inc grew its stake in Regeneron Pharmaceuticals by 162.9% in the first quarter. TD Asset Management Inc now owns 269,511 shares of the biopharmaceutical company’s stock valued at $259,402,000 after purchasing an additional 166,998 shares in the last quarter. Institutional investors and hedge funds own 83.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on REGN. JPMorgan Chase & Co. upped their price target on Regeneron Pharmaceuticals from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Argus raised their target price on Regeneron Pharmaceuticals from $1,060.00 to $1,170.00 and gave the stock a “buy” rating in a research report on Tuesday, June 25th. Canaccord Genuity Group restated a “buy” rating and set a $1,152.00 target price on shares of Regeneron Pharmaceuticals in a research report on Thursday, June 27th. Morgan Stanley cut their price target on Regeneron Pharmaceuticals from $1,183.00 to $1,182.00 and set an “overweight” rating for the company in a report on Thursday, July 11th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $1,200.00 price target (up from $1,135.00) on shares of Regeneron Pharmaceuticals in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Regeneron Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $1,109.70.

Regeneron Pharmaceuticals Stock Down 0.0 %

Shares of NASDAQ:REGN opened at $1,153.08 on Tuesday. Regeneron Pharmaceuticals, Inc. has a 52-week low of $769.19 and a 52-week high of $1,211.20. The firm has a market capitalization of $127.05 billion, a P/E ratio of 34.06, a P/E/G ratio of 3.97 and a beta of 0.12. The stock has a 50 day moving average price of $1,126.24 and a 200-day moving average price of $1,027.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.62 and a current ratio of 5.44.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported $11.56 EPS for the quarter, beating the consensus estimate of $8.93 by $2.63. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.38 billion. Regeneron Pharmaceuticals had a return on equity of 16.80% and a net margin of 32.04%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the business posted $8.79 EPS. As a group, equities research analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 37.8 EPS for the current fiscal year.

Insider Activity at Regeneron Pharmaceuticals

In other news, CFO Christopher R. Fenimore sold 5,680 shares of Regeneron Pharmaceuticals stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the sale, the chief financial officer now directly owns 15,305 shares of the company’s stock, valued at $18,447,575.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Christopher R. Fenimore sold 5,680 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $1,205.33, for a total transaction of $6,846,274.40. Following the transaction, the chief financial officer now owns 15,305 shares of the company’s stock, valued at $18,447,575.65. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Bonnie L. Bassler sold 756 shares of Regeneron Pharmaceuticals stock in a transaction on Monday, June 24th. The stock was sold at an average price of $1,062.00, for a total value of $802,872.00. Following the sale, the director now owns 1,382 shares of the company’s stock, valued at $1,467,684. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,026 shares of company stock worth $11,498,705. Corporate insiders own 7.48% of the company’s stock.

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.