Rhenman & Partners Asset Management AB raised its holdings in Regeneron Pharmaceuticals Inc (NASDAQ:REGN) by 181.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 45,014 shares of the biopharmaceutical company’s stock after purchasing an additional 29,014 shares during the quarter. Regeneron Pharmaceuticals makes up about 1.6% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 29th largest position. Rhenman & Partners Asset Management AB’s holdings in Regeneron Pharmaceuticals were worth $14,089,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Smithfield Trust Co. bought a new position in Regeneron Pharmaceuticals in the 1st quarter valued at $27,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Regeneron Pharmaceuticals during the first quarter worth $29,000. Citizens Financial Group Inc RI bought a new stake in shares of Regeneron Pharmaceuticals during the first quarter worth $30,000. Accurate Investment Solutions Inc. bought a new stake in shares of Regeneron Pharmaceuticals during the second quarter worth $31,000. Finally, Thor Advisors LLC bought a new stake in shares of Regeneron Pharmaceuticals during the first quarter worth $32,000. Hedge funds and other institutional investors own 66.74% of the company’s stock.
In other Regeneron Pharmaceuticals news, Director Joseph L. Goldstein sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $305.93, for a total value of $305,930.00. Following the completion of the transaction, the director now directly owns 11,323 shares of the company’s stock, valued at $3,464,045.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Neil Stahl sold 9,853 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $305.74, for a total value of $3,012,456.22. Following the completion of the transaction, the executive vice president now directly owns 47,450 shares of the company’s stock, valued at $14,507,363. The disclosure for this sale can be found here. 11.84% of the stock is currently owned by insiders.
Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported $4.45 EPS for the quarter, missing analysts’ consensus estimates of $5.24 by ($0.79). The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.76 billion. Regeneron Pharmaceuticals had a net margin of 35.13% and a return on equity of 26.95%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.67 EPS. As a group, equities research analysts predict that Regeneron Pharmaceuticals Inc will post 18.37 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the company. Leerink Swann set a $453.00 target price on Regeneron Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Jefferies Financial Group dropped their target price on Regeneron Pharmaceuticals from $376.00 to $343.00 and set a “hold” rating for the company in a research report on Wednesday, April 17th. Cantor Fitzgerald dropped their target price on Regeneron Pharmaceuticals from $441.00 to $405.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. BidaskClub upgraded Regeneron Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, July 19th. Finally, TheStreet downgraded Regeneron Pharmaceuticals from a “b-” rating to a “c+” rating in a research report on Wednesday, June 5th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Regeneron Pharmaceuticals currently has an average rating of “Hold” and an average target price of $394.65.
Regeneron Pharmaceuticals Company Profile
Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, 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 (DME); myopic choroidal neovascularization; and diabetic retinopathy in patients with DME, 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.
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