First Interstate Bank cut its stake in Regeneron Pharmaceuticals Inc (NASDAQ:REGN) by 4.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,973 shares of the biopharmaceutical company’s stock after selling 91 shares during the quarter. First Interstate Bank’s holdings in Regeneron Pharmaceuticals were worth $618,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Altfest L J & Co. Inc. acquired a new stake in Regeneron Pharmaceuticals during the 2nd quarter valued at $538,000. Schaper Benz & Wise Investment Counsel Inc. WI increased its holdings in Regeneron Pharmaceuticals by 1.3% during the 1st quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 16,826 shares of the biopharmaceutical company’s stock valued at $6,909,000 after purchasing an additional 216 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Regeneron Pharmaceuticals by 47.9% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 26,027 shares of the biopharmaceutical company’s stock valued at $10,687,000 after purchasing an additional 8,434 shares in the last quarter. Kendall Capital Management increased its holdings in Regeneron Pharmaceuticals by 54.9% during the 1st quarter. Kendall Capital Management now owns 1,329 shares of the biopharmaceutical company’s stock valued at $546,000 after purchasing an additional 471 shares in the last quarter. Finally, Gilman Hill Asset Management LLC acquired a new stake in Regeneron Pharmaceuticals during the 1st quarter valued at $205,000. 65.85% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ REGN traded up $1.62 during midday trading on Monday, hitting $298.48. The stock had a trading volume of 147,556 shares, compared to its average volume of 733,513. The company’s 50-day simple moving average is $304.13 and its 200 day simple moving average is $350.53. The firm has a market cap of $32.19 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 1.34 and a beta of 1.15. Regeneron Pharmaceuticals Inc has a fifty-two week low of $287.66 and a fifty-two week high of $442.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.88 and a quick ratio of 3.11.
A number of equities research analysts recently weighed in on REGN shares. Cantor Fitzgerald dropped their price target on Regeneron Pharmaceuticals from $441.00 to $405.00 and set a “neutral” rating for the company in a report on Monday, May 13th. TheStreet cut Regeneron Pharmaceuticals from a “b-” rating to a “c+” rating in a report on Wednesday, June 5th. Robert W. Baird raised Regeneron Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $410.00 price target for the company in a report on Wednesday, August 7th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $435.00 price target on shares of Regeneron Pharmaceuticals in a report on Tuesday, May 7th. Finally, ValuEngine cut Regeneron Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, June 7th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $398.25.
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.
Further Reading: Equity Income
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