Summit Global Investments Acquires Shares of 19,623 Regeneron Pharmaceuticals, Inc. $REGN

Summit Global Investments acquired a new stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,623 shares of the biopharmaceutical company’s stock, valued at approximately $11,034,000. Regeneron Pharmaceuticals accounts for about 0.6% of Summit Global Investments’ investment portfolio, making the stock its 26th biggest position.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ruffer LLP acquired a new stake in Regeneron Pharmaceuticals during the third quarter worth approximately $12,111,000. AE Wealth Management LLC grew its position in shares of Regeneron Pharmaceuticals by 52.1% in the third quarter. AE Wealth Management LLC now owns 4,004 shares of the biopharmaceutical company’s stock valued at $2,252,000 after purchasing an additional 1,371 shares during the last quarter. Tidemark LLC increased its stake in shares of Regeneron Pharmaceuticals by 12.3% during the third quarter. Tidemark LLC now owns 522 shares of the biopharmaceutical company’s stock worth $294,000 after purchasing an additional 57 shares during the period. Great Lakes Advisors LLC acquired a new stake in Regeneron Pharmaceuticals during the 3rd quarter worth approximately $1,026,000. Finally, Fidelis Capital Partners LLC bought a new stake in Regeneron Pharmaceuticals in the 3rd quarter valued at $697,000. Institutional investors own 83.31% of the company’s stock.

Insider Buying and Selling at Regeneron Pharmaceuticals

In related news, Director Bonnie L. Bassler sold 1,500 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $800.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the director directly owned 1,703 shares in the company, valued at $1,362,400. This represents a 46.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jason Pitofsky sold 431 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $651.43, for a total value of $280,766.33. Following the completion of the sale, the vice president directly owned 4,233 shares in the company, valued at $2,757,503.19. This trade represents a 9.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 7.02% of the stock is owned by corporate insiders.

Regeneron Pharmaceuticals Price Performance

Shares of NASDAQ:REGN opened at $749.44 on Friday. The firm has a 50 day moving average of $758.68 and a 200-day moving average of $648.66. Regeneron Pharmaceuticals, Inc. has a 12 month low of $476.49 and a 12 month high of $821.11. The company has a current ratio of 4.06, a quick ratio of 3.33 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $78.77 billion, a PE ratio of 17.95, a PEG ratio of 1.96 and a beta of 0.39.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $11.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.73 by $2.10. Regeneron Pharmaceuticals had a net margin of 32.13% and a return on equity of 13.76%. The business had revenue of $3.75 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the business posted $12.46 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on REGN shares. UBS Group upped their price objective on Regeneron Pharmaceuticals from $595.00 to $660.00 and gave the company a “neutral” rating in a report on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Regeneron Pharmaceuticals in a research note on Monday, December 29th. Scotiabank lifted their price objective on shares of Regeneron Pharmaceuticals from $650.00 to $770.00 and gave the stock a “sector perform” rating in a research note on Monday, November 24th. Bank of America raised shares of Regeneron Pharmaceuticals from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $627.00 to $860.00 in a report on Wednesday, January 7th. Finally, Truist Financial raised their target price on shares of Regeneron Pharmaceuticals from $798.00 to $820.00 and gave the stock a “buy” rating in a report on Thursday, January 8th. Three analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Regeneron Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $784.77.

About Regeneron Pharmaceuticals

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.