Regeneron Pharmaceuticals (NASDAQ:REGN) Stock Price Down 3.2% Following Insider Selling

Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) dropped 3.2% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $1,011.75 and last traded at $1,011.75. Approximately 102,833 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 475,243 shares. The stock had previously closed at $1,044.66.

Specifically, CEO Leonard S. Schleifer sold 25,000 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $979.25, for a total value of $24,481,250.00. Following the completion of the sale, the chief executive officer now owns 408,200 shares in the company, valued at approximately $399,729,850. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Leonard S. Schleifer sold 25,000 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $979.25, for a total transaction of $24,481,250.00. Following the sale, the chief executive officer now 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 can be accessed through this link. Also, Director Bonnie L. Bassler sold 756 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $1,062.00, for a total transaction of $802,872.00. Following the sale, the director now directly owns 1,382 shares in the company, valued at approximately $1,467,684. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,208 shares of company stock worth $62,514,142. Insiders own 7.48% of the company’s stock.

Analysts Set New Price Targets

REGN has been the topic of a number of research analyst reports. Argus boosted their target price on Regeneron Pharmaceuticals from $1,060.00 to $1,170.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Morgan Stanley boosted their target price on Regeneron Pharmaceuticals from $1,104.00 to $1,115.00 and gave the company an “overweight” rating in a research report on Wednesday, March 13th. Evercore ISI initiated coverage on Regeneron Pharmaceuticals in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $1,150.00 target price on the stock. Bank of America boosted their price target on shares of Regeneron Pharmaceuticals from $710.00 to $720.00 and gave the stock an “underperform” rating in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Regeneron Pharmaceuticals from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. One analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Regeneron Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $1,027.55.

Regeneron Pharmaceuticals Trading Down 2.0 %

The stock has a market capitalization of $112.84 billion, a PE ratio of 30.25, a PEG ratio of 2.17 and a beta of 0.13. 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 business’s 50-day moving average is $990.15 and its two-hundred day moving average is $954.11.

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

Institutional Investors Weigh In On Regeneron Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of REGN. West Paces Advisors Inc. raised its holdings in shares of Regeneron Pharmaceuticals by 575.0% in the first quarter. West Paces Advisors Inc. now owns 27 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 23 shares during the last quarter. Crewe Advisors LLC purchased a new stake in shares of Regeneron Pharmaceuticals in the first quarter valued at about $28,000. Fortitude Family Office LLC purchased a new stake in shares of Regeneron Pharmaceuticals in the fourth quarter valued at about $31,000. MCF Advisors LLC raised its holdings in shares of Regeneron Pharmaceuticals by 50.0% in the fourth quarter. MCF Advisors LLC now owns 36 shares of the biopharmaceutical company’s stock valued at $32,000 after buying an additional 12 shares during the last quarter. Finally, BOK Financial Private Wealth Inc. purchased a new stake in shares of Regeneron Pharmaceuticals in the first quarter valued at about $37,000. 83.31% of the stock is owned by hedge funds and other institutional investors.

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.