Panagora Asset Management Inc. increased its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 8.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,320 shares of the biopharmaceutical company’s stock after buying an additional 11,148 shares during the quarter. Panagora Asset Management Inc. owned about 0.14% of Regeneron Pharmaceuticals worth $69,703,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in REGN. Harvey Capital Management Inc. purchased a new stake in Regeneron Pharmaceuticals in the 1st quarter worth about $5,231,000. Fagan Associates Inc. increased its position in shares of Regeneron Pharmaceuticals by 10.4% during the 1st quarter. Fagan Associates Inc. now owns 7,469 shares of the biopharmaceutical company’s stock worth $3,534,000 after purchasing an additional 702 shares in the last quarter. Jacobs & Co. CA lifted its holdings in Regeneron Pharmaceuticals by 10.8% during the 1st quarter. Jacobs & Co. CA now owns 12,035 shares of the biopharmaceutical company’s stock valued at $5,694,000 after purchasing an additional 1,177 shares during the last quarter. Oak Associates Ltd. OH lifted its holdings in Regeneron Pharmaceuticals by 6.5% during the 4th quarter. Oak Associates Ltd. OH now owns 3,195 shares of the biopharmaceutical company’s stock valued at $1,544,000 after purchasing an additional 195 shares during the last quarter. Finally, Vident Investment Advisory LLC raised its stake in shares of Regeneron Pharmaceuticals by 17.2% in the fourth quarter. Vident Investment Advisory LLC now owns 9,674 shares of the biopharmaceutical company’s stock worth $4,672,000 after acquiring an additional 1,419 shares during the last quarter. 83.03% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the stock. Cantor Fitzgerald lowered their price target on shares of Regeneron Pharmaceuticals from $696.00 to $656.00 and set an “overweight” rating for the company in a research report on Tuesday, February 16th. Canaccord Genuity reiterated a “buy” rating on shares of Regeneron Pharmaceuticals in a report on Tuesday, April 13th. SVB Leerink cut their price objective on shares of Regeneron Pharmaceuticals from $657.00 to $641.00 and set an “outperform” rating on the stock in a research report on Friday, May 7th. Robert W. Baird reissued a “hold” rating on shares of Regeneron Pharmaceuticals in a research report on Tuesday, April 13th. Finally, Morgan Stanley boosted their price objective on shares of Regeneron Pharmaceuticals from $477.00 to $495.00 and gave the stock an “equal weight” rating in a research report on Friday, May 7th. Four research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $657.95.
Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings results on Thursday, May 6th. The biopharmaceutical company reported $9.89 earnings per share for the quarter, topping analysts’ consensus estimates of $7.78 by $2.11. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.69 billion. Regeneron Pharmaceuticals had a return on equity of 35.43% and a net margin of 43.53%. The business’s revenue was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.60 earnings per share. On average, analysts forecast that Regeneron Pharmaceuticals, Inc. will post 46.81 earnings per share for the current year.
In other news, EVP Marion Mccourt sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $495.63, for a total transaction of $495,630.00. Following the completion of the sale, the executive vice president now owns 18,038 shares in the company, valued at $8,940,173.94. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 10.76% of the company’s stock.
Regeneron Pharmaceuticals Profile
Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various medical conditions worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; and diabetic retinopathy, as well as macular edema following retinal vein occlusion, including macular edema following central retinal vein occlusion and macular edema following branch retinal vein occlusion.
Featured Article: What is diluted earnings per share (Diluted EPS)?
Receive News & Ratings for Regeneron Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regeneron Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.