Insider Buying: Sanofi Buys 348,000 Shares of Regeneron Pharmaceuticals Stock (REGN)
Regeneron Pharmaceuticals (NASDAQ:REGN) major shareholder Sanofi acquired 348,000 shares of Regeneron Pharmaceuticals stock in a transaction dated Wednesday, July 9th. The shares were purchased at an average price of $309.76 per share, for a total transaction of $107,796,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of Regeneron Pharmaceuticals (NASDAQ:REGN) traded up 1.14% on Thursday, hitting $314.49. 1,158,140 shares of the company’s stock traded hands. Regeneron Pharmaceuticals has a 52-week low of $227.64 and a 52-week high of $352.49. The stock’s 50-day moving average is $302.1 and its 200-day moving average is $301.4. The company has a market cap of $31.043 billion and a P/E ratio of 89.14.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.58 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.94 by $0.36. The company had revenue of $626.00 million for the quarter, compared to the consensus estimate of $609.04 million. During the same quarter last year, the company posted $1.78 earnings per share. Regeneron Pharmaceuticals’s revenue was up 42.3% compared to the same quarter last year. Analysts expect that Regeneron Pharmaceuticals will post $9.89 EPS for the current fiscal year.
A number of analysts have recently weighed in on REGN shares. Analysts at Morgan Stanley reiterated a “positive” rating on shares of Regeneron Pharmaceuticals in a research note on Thursday. They now have a $310.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Regeneron Pharmaceuticals from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 25th. They now have a $334.00 price target on the stock. Finally, analysts at Goldman Sachs reiterated a “buy” rating on shares of Regeneron Pharmaceuticals in a research note on Tuesday, June 24th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Regeneron Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $343.44.
Regeneron Pharmaceuticals, Inc (NASDAQ:REGN) is an integrated biopharmaceutical company, which discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions.
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