Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,201 shares of the biopharmaceutical company’s stock after selling 99 shares during the period. PNC Financial Services Group Inc.’s holdings in Regeneron Pharmaceuticals were worth $15,986,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in REGN. Norges Bank purchased a new stake in Regeneron Pharmaceuticals in the fourth quarter valued at approximately $932,571,000. International Assets Investment Management LLC grew its holdings in shares of Regeneron Pharmaceuticals by 76,169.5% during the fourth quarter. International Assets Investment Management LLC now owns 591,089 shares of the biopharmaceutical company’s stock worth $519,148,000 after purchasing an additional 590,314 shares during the last quarter. First Trust Advisors LP increased its position in Regeneron Pharmaceuticals by 115.2% during the fourth quarter. First Trust Advisors LP now owns 365,950 shares of the biopharmaceutical company’s stock worth $321,410,000 after buying an additional 195,902 shares during the period. abrdn plc raised its position in Regeneron Pharmaceuticals by 552.8% in the 4th quarter. abrdn plc now owns 219,900 shares of the biopharmaceutical company’s stock valued at $193,136,000 after purchasing an additional 186,215 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in Regeneron Pharmaceuticals by 129.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 216,523 shares of the biopharmaceutical company’s stock valued at $190,170,000 after purchasing an additional 122,103 shares during the period. Institutional investors and hedge funds own 83.31% of the company’s stock.

Insider Activity at Regeneron Pharmaceuticals

In other news, CEO Leonard S. Schleifer sold 25,000 shares of Regeneron Pharmaceuticals stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $979.25, for a total value of $24,481,250.00. Following the completion of the transaction, the chief executive officer now directly owns 408,200 shares of the company’s stock, valued at approximately $399,729,850. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Michael S. Brown sold 1,172 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $974.86, for a total transaction of $1,142,535.92. Following the transaction, the director now owns 1,382 shares of the company’s stock, valued at $1,347,256.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Leonard S. Schleifer sold 25,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $979.25, for a total transaction of $24,481,250.00. Following the transaction, the chief executive officer now owns 408,200 shares in the company, valued at $399,729,850. The disclosure for this sale can be found here. Insiders have sold 61,215 shares of company stock worth $60,414,782 over the last ninety days. Insiders own 7.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Morgan Stanley boosted their target price on Regeneron Pharmaceuticals from $1,104.00 to $1,115.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 13th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $925.00 price target on shares of Regeneron Pharmaceuticals in a report on Friday, May 3rd. StockNews.com cut shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. upped their price target on Regeneron Pharmaceuticals from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Evercore ISI began coverage on shares of Regeneron Pharmaceuticals in a research note on Tuesday, May 14th. They issued an “outperform” rating and a $1,150.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $998.09.

Regeneron Pharmaceuticals Price Performance

REGN stock opened at $1,045.37 on Tuesday. Regeneron Pharmaceuticals, Inc. has a 12 month low of $684.80 and a 12 month high of $1,049.50. The company’s 50-day moving average price is $958.43 and its two-hundred day moving average price is $938.09. The company has a quick ratio of 4.51, a current ratio of 5.27 and a debt-to-equity ratio of 0.10. The firm has a market cap of $115.19 billion, a P/E ratio of 30.88, a P/E/G ratio of 2.14 and a beta of 0.13.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its earnings results on Thursday, May 2nd. The biopharmaceutical company reported $7.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $8.46 by ($0.49). Regeneron Pharmaceuticals had a return on equity of 16.83% and a net margin of 29.45%. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.19 billion. On average, analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 37.23 earnings per share for the current fiscal year.

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.