Bank of New York Mellon Corp Purchases 15,006 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Bank of New York Mellon Corp grew its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 2.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 671,630 shares of the biopharmaceutical company’s stock after acquiring an additional 15,006 shares during the quarter. Bank of New York Mellon Corp’s holdings in Regeneron Pharmaceuticals were worth $377,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC purchased a new position in shares of Regeneron Pharmaceuticals in the third quarter valued at $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Regeneron Pharmaceuticals in the 2nd quarter worth $31,000. Traub Capital Management LLC bought a new stake in shares of Regeneron Pharmaceuticals in the 2nd quarter worth about $38,000. Berbice Capital Management LLC increased its holdings in shares of Regeneron Pharmaceuticals by 300.0% in the 2nd quarter. Berbice Capital Management LLC now owns 80 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 60 shares during the last quarter. Finally, E Fund Management Hong Kong Co. Ltd. raised its position in shares of Regeneron Pharmaceuticals by 87.5% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 75 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 35 shares in the last quarter. 83.31% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Regeneron Pharmaceuticals news, VP Jason Pitofsky sold 431 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $651.43, for a total value of $280,766.33. Following the transaction, the vice president directly owned 4,233 shares in the company, valued at $2,757,503.19. This represents a 9.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bonnie L. Bassler sold 1,500 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Wednesday, January 7th. The shares were sold at an average price of $800.00, for a total transaction of $1,200,000.00. Following the sale, the director directly owned 1,703 shares of the company’s stock, valued at $1,362,400. This represents a 46.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 7.02% of the stock is owned by insiders.

Regeneron Pharmaceuticals Stock Performance

REGN stock opened at $749.44 on Friday. Regeneron Pharmaceuticals, Inc. has a twelve month low of $476.49 and a twelve month high of $821.11. The firm has a market cap of $78.77 billion, a price-to-earnings ratio of 17.95, a PEG ratio of 1.96 and a beta of 0.39. The business’s fifty day simple moving average is $758.68 and its two-hundred day simple moving average is $648.66. The company has a quick ratio of 3.33, a current ratio of 4.06 and a debt-to-equity ratio of 0.09.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $11.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.73 by $2.10. The firm had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.57 billion. Regeneron Pharmaceuticals had a net margin of 32.13% and a return on equity of 13.76%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $12.46 earnings per share. Analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current year.

Wall Street Analysts Forecast Growth

REGN has been the subject of several recent research reports. Canaccord Genuity Group lifted their price target on Regeneron Pharmaceuticals from $850.00 to $1,057.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Evercore ISI boosted their target price on Regeneron Pharmaceuticals from $750.00 to $875.00 and gave the company an “outperform” rating in a research report on Thursday, January 22nd. HSBC started coverage on Regeneron Pharmaceuticals in a report on Monday, November 24th. They set a “buy” rating and a $255.00 price target on the stock. Cantor Fitzgerald lifted their price objective on shares of Regeneron Pharmaceuticals from $678.00 to $740.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Hsbc Global Res raised shares of Regeneron Pharmaceuticals to a “strong-buy” rating in a research note on Monday, November 24th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $784.77.

Regeneron Pharmaceuticals Profile

Regeneron Pharmaceuticals, Inc (NASDAQ: REGN) is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.