Assenagon Asset Management S.A. Trims Stake in Regeneron Pharmaceuticals, Inc. $REGN

Assenagon Asset Management S.A. lessened its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 51.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 233,231 shares of the biopharmaceutical company’s stock after selling 244,579 shares during the period. Assenagon Asset Management S.A. owned 0.22% of Regeneron Pharmaceuticals worth $180,024,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC lifted its position in Regeneron Pharmaceuticals by 261.8% during the fourth quarter. Brighton Jones LLC now owns 948 shares of the biopharmaceutical company’s stock valued at $675,000 after purchasing an additional 686 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Regeneron Pharmaceuticals in the first quarter worth $226,000. MAI Capital Management increased its stake in Regeneron Pharmaceuticals by 12.8% in the second quarter. MAI Capital Management now owns 1,007 shares of the biopharmaceutical company’s stock valued at $529,000 after acquiring an additional 114 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Regeneron Pharmaceuticals by 1.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 720,273 shares of the biopharmaceutical company’s stock valued at $378,143,000 after acquiring an additional 9,938 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in Regeneron Pharmaceuticals by 6.5% during the second quarter. Prudential Financial Inc. now owns 61,317 shares of the biopharmaceutical company’s stock valued at $32,191,000 after purchasing an additional 3,768 shares in the last quarter. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on REGN. Barclays began coverage on Regeneron Pharmaceuticals in a report on Friday, March 6th. They issued an “overweight” rating and a $923.00 price objective for the company. Truist Financial decreased their price objective on Regeneron Pharmaceuticals from $820.00 to $818.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. HSBC assumed coverage on Regeneron Pharmaceuticals in a research note on Monday, November 24th. They issued a “buy” rating and a $255.00 target price for the company. Royal Bank Of Canada increased their price target on shares of Regeneron Pharmaceuticals from $745.00 to $765.00 and gave the company a “sector perform” rating in a research report on Monday, March 2nd. Finally, Bank of America raised shares of Regeneron Pharmaceuticals from an “underperform” rating to a “buy” rating and lifted their price target for the stock from $627.00 to $860.00 in a research note on Wednesday, January 7th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, Regeneron Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $802.27.

Insiders Place Their Bets

In other Regeneron Pharmaceuticals news, Director Huda Y. Zoghbi sold 1,638 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $781.33, for a total value of $1,279,818.54. Following the completion of the sale, the director owned 1,703 shares in the company, valued at approximately $1,330,604.99. This trade represents a 49.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jason Pitofsky sold 2,036 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $778.52, for a total value of $1,585,066.72. Following the completion of the sale, the senior vice president owned 4,272 shares in the company, valued at approximately $3,325,837.44. This represents a 32.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,274 shares of company stock worth $4,142,738 in the last quarter. 7.02% of the stock is currently owned by company insiders.

Regeneron Pharmaceuticals Price Performance

Shares of Regeneron Pharmaceuticals stock opened at $736.53 on Tuesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.13 and a quick ratio of 3.39. Regeneron Pharmaceuticals, Inc. has a one year low of $476.49 and a one year high of $821.11. The business’s 50 day simple moving average is $764.72 and its two-hundred day simple moving average is $702.84. The stock has a market capitalization of $77.87 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 1.97 and a beta of 0.40.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings data on Friday, January 30th. The biopharmaceutical company reported $11.44 earnings per share for the quarter, beating analysts’ consensus estimates of $10.74 by $0.70. Regeneron Pharmaceuticals had a return on equity of 13.04% and a net margin of 31.41%.The firm had revenue of $3.88 billion during the quarter, compared to analyst estimates of $3.76 billion. During the same quarter in the prior year, the firm posted $12.07 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Analysts forecast that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current year.

Regeneron Pharmaceuticals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 5th. Investors of record on Friday, February 20th were paid a $0.94 dividend. The ex-dividend date of this dividend was Friday, February 20th. This is a boost from Regeneron Pharmaceuticals’s previous quarterly dividend of $0.88. This represents a $3.76 annualized dividend and a dividend yield of 0.5%. Regeneron Pharmaceuticals’s payout ratio is 9.05%.

Regeneron Pharmaceuticals Profile

Regeneron Pharmaceuticals, Inc (NASDAQ: REGN) is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.