Wedbush Securities Inc. Trims Holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Wedbush Securities Inc. cut its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 668 shares of the biopharmaceutical company’s stock after selling 28 shares during the quarter. Wedbush Securities Inc.’s holdings in Regeneron Pharmaceuticals were worth $702,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. West Paces Advisors Inc. grew its position in Regeneron Pharmaceuticals by 575.0% during the first quarter. West Paces Advisors Inc. now owns 27 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 23 shares in the last quarter. Stephens Consulting LLC purchased a new position in Regeneron Pharmaceuticals during the second quarter worth about $26,000. Crewe Advisors LLC purchased a new position in Regeneron Pharmaceuticals during the first quarter worth about $28,000. Lynx Investment Advisory purchased a new position in Regeneron Pharmaceuticals during the second quarter worth about $33,000. Finally, Family Firm Inc. purchased a new position in Regeneron Pharmaceuticals during the second quarter worth about $33,000. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Regeneron Pharmaceuticals

In other Regeneron Pharmaceuticals news, Director Michael S. Brown sold 1,535 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $1,040.00, for a total transaction of $1,596,400.00. Following the transaction, the director now owns 1,382 shares in the company, valued at approximately $1,437,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Regeneron Pharmaceuticals news, Director Michael S. Brown sold 1,535 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $1,040.00, for a total transaction of $1,596,400.00. Following the transaction, the director now owns 1,382 shares in the company, valued at approximately $1,437,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Christopher R. Fenimore sold 5,680 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the transaction, the chief financial officer now owns 15,305 shares in the company, valued at approximately $18,447,575.65. The disclosure for this sale can be found here. Insiders have sold a total of 11,561 shares of company stock worth $13,095,105 in the last 90 days. Company insiders own 7.48% of the company’s stock.

Regeneron Pharmaceuticals Stock Up 0.4 %

Shares of NASDAQ:REGN opened at $1,141.45 on Thursday. Regeneron Pharmaceuticals, Inc. has a 1 year low of $769.19 and a 1 year high of $1,211.20. The company has a market cap of $125.77 billion, a PE ratio of 33.72, a P/E/G ratio of 3.86 and a beta of 0.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.44 and a quick ratio of 4.62. The stock’s 50-day moving average is $1,119.03 and its 200 day moving average is $1,023.84.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported $11.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.93 by $2.63. Regeneron Pharmaceuticals had a return on equity of 16.80% and a net margin of 32.04%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the business earned $8.79 EPS. Regeneron Pharmaceuticals’s revenue was up 12.3% compared to the same quarter last year. Sell-side analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 37.8 EPS for the current year.

Wall Street Analyst Weigh In

REGN has been the subject of several recent analyst reports. Morgan Stanley reduced their target price on Regeneron Pharmaceuticals from $1,183.00 to $1,182.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Wells Fargo & Company lifted their price target on Regeneron Pharmaceuticals from $1,125.00 to $1,200.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Guggenheim lifted their price target on Regeneron Pharmaceuticals from $1,180.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Truist Financial reaffirmed a “buy” rating and set a $1,200.00 price target (up previously from $1,135.00) on shares of Regeneron Pharmaceuticals in a research note on Friday, August 2nd. Finally, Argus lifted their price target on Regeneron Pharmaceuticals from $1,060.00 to $1,170.00 and gave the stock a “buy” rating in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,109.70.

Regeneron Pharmaceuticals Profile

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.