Cornerstone Advisors LLC Raises Position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Cornerstone Advisors LLC lifted its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 13.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,000 shares of the biopharmaceutical company's stock after purchasing an additional 700 shares during the period. Cornerstone Advisors LLC's holdings in Regeneron Pharmaceuticals were worth $6,307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Sachetta LLC lifted its stake in shares of Regeneron Pharmaceuticals by 71.4% in the 2nd quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 10 shares during the period. Rakuten Securities Inc. grew its position in Regeneron Pharmaceuticals by 380.0% in the 3rd quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 19 shares in the last quarter. Stephens Consulting LLC bought a new position in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at approximately $26,000. Crewe Advisors LLC bought a new position in shares of Regeneron Pharmaceuticals during the 1st quarter valued at approximately $28,000. Finally, Lynx Investment Advisory bought a new position in Regeneron Pharmaceuticals in the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 83.31% of the company's stock.

Insider Transactions at Regeneron Pharmaceuticals

In related news, CFO Christopher R. Fenimore sold 5,680 shares of the 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 completion of the transaction, the chief financial officer now directly owns 15,305 shares of the company's stock, valued at approximately $18,447,575.65. This represents a 27.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.48% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on REGN. Truist Financial lowered their target price on shares of Regeneron Pharmaceuticals from $1,137.00 to $1,126.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Oppenheimer cut their price objective on Regeneron Pharmaceuticals from $1,150.00 to $1,000.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 6th. Cantor Fitzgerald restated a "neutral" rating and set a $1,015.00 price target on shares of Regeneron Pharmaceuticals in a research report on Wednesday, October 23rd. Piper Sandler dropped their target price on Regeneron Pharmaceuticals from $1,242.00 to $1,195.00 and set an "overweight" rating on the stock in a report on Friday, November 1st. Finally, Morgan Stanley dropped their target price on Regeneron Pharmaceuticals from $1,235.00 to $1,184.00 and set an "overweight" rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,099.55.

Regeneron Pharmaceuticals Stock Performance

REGN traded up $12.73 during midday trading on Thursday, reaching $756.08. The company had a trading volume of 295,499 shares, compared to its average volume of 534,155. The company has a market cap of $83.09 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.81 and a beta of 0.15. The company has a quick ratio of 4.46, a current ratio of 5.28 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average of $961.76 and a two-hundred day moving average of $1,030.14. Regeneron Pharmaceuticals, Inc. has a 1 year low of $735.95 and a 1 year high of $1,211.20.

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.