CIBC Asset Management Inc boosted its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 5.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,352 shares of the biopharmaceutical company's stock after purchasing an additional 1,843 shares during the quarter. CIBC Asset Management Inc's holdings in Regeneron Pharmaceuticals were worth $35,061,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in REGN. Rakuten Securities Inc. lifted its stake in shares of Regeneron Pharmaceuticals by 380.0% in the third quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company's stock worth $25,000 after buying an additional 19 shares in the last quarter. Stephens Consulting LLC acquired a new stake in shares of Regeneron Pharmaceuticals during the second quarter valued at about $26,000. Sachetta LLC lifted its stake in Regeneron Pharmaceuticals by 71.4% during the second quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company's stock worth $26,000 after purchasing an additional 10 shares in the last quarter. Crewe Advisors LLC purchased a new position in shares of Regeneron Pharmaceuticals in the first quarter valued at approximately $28,000. Finally, Lynx Investment Advisory acquired a new stake in Regeneron Pharmaceuticals in the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 83.31% of the company's stock.
Regeneron Pharmaceuticals Stock Performance
REGN stock traded down $25.70 during midday trading on Friday, hitting $756.81. The stock had a trading volume of 1,374,549 shares, compared to its average volume of 530,457. Regeneron Pharmaceuticals, Inc. has a 52 week low of $753.69 and a 52 week high of $1,211.20. The company has a current ratio of 5.28, a quick ratio of 4.46 and a debt-to-equity ratio of 0.09. The stock has a 50-day simple moving average of $985.21 and a 200 day simple moving average of $1,032.97. The firm has a market capitalization of $83.17 billion, a price-to-earnings ratio of 18.73, a P/E/G ratio of 3.04 and a beta of 0.15.
Wall Street Analyst Weigh In
REGN has been the subject of several research analyst reports. Wolfe Research began coverage on Regeneron Pharmaceuticals in a report on Friday. They issued an "outperform" rating and a $1,150.00 price objective for the company. StockNews.com downgraded shares of Regeneron Pharmaceuticals from a "strong-buy" rating to a "buy" rating in a report on Monday, November 4th. Morgan Stanley dropped their price target on Regeneron Pharmaceuticals from $1,235.00 to $1,184.00 and set an "overweight" rating for the company in a research report on Friday, November 1st. Royal Bank of Canada cut their price objective on Regeneron Pharmaceuticals from $1,260.00 to $1,215.00 and set an "outperform" rating for the company in a research report on Friday, November 1st. Finally, Citigroup began coverage on shares of Regeneron Pharmaceuticals in a research note on Thursday. They set a "neutral" rating and a $895.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Regeneron Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $1,099.55.
Get Our Latest Research Report on Regeneron Pharmaceuticals
Insider Transactions at Regeneron Pharmaceuticals
In other news, CFO Christopher R. Fenimore sold 5,680 shares of the business's stock in a transaction on Wednesday, August 28th. The shares were 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 owns 15,305 shares in the company, valued at approximately $18,447,575.65. The trade was a 27.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.48% of the stock is currently owned by insiders.
About Regeneron Pharmaceuticals
(
Free Report)
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.
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