PNC Financial Services Group Inc. Grows Position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

PNC Financial Services Group Inc. lifted its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,325 shares of the biopharmaceutical company’s stock after acquiring an additional 153 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Regeneron Pharmaceuticals were worth $19,264,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in REGN. Rakuten Securities Inc. boosted its stake in shares of Regeneron Pharmaceuticals by 380.0% during the 3rd quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 19 shares in the last quarter. Stephens Consulting LLC purchased a new stake in shares of Regeneron Pharmaceuticals in the second quarter valued at approximately $26,000. Sachetta LLC raised its stake in shares of Regeneron Pharmaceuticals by 71.4% during the 2nd quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 10 shares during the period. Crewe Advisors LLC purchased a new position in shares of Regeneron Pharmaceuticals during the 1st quarter valued at approximately $28,000. Finally, Lynx Investment Advisory acquired a new stake in Regeneron Pharmaceuticals in the 2nd quarter valued at $33,000. 83.31% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Regeneron Pharmaceuticals from $1,200.00 to $1,050.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Royal Bank of Canada lowered their price objective on Regeneron Pharmaceuticals from $1,260.00 to $1,215.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Barclays cut their price objective on Regeneron Pharmaceuticals from $1,080.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Wolfe Research began coverage on Regeneron Pharmaceuticals in a research note on Friday, November 15th. They issued an “outperform” rating and a $1,150.00 price target on the stock. Finally, Citigroup started coverage on Regeneron Pharmaceuticals in a research note on Thursday, November 14th. They issued a “neutral” rating and a $895.00 price objective for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,099.55.

Insider Activity

In related news, CFO Christopher R. Fenimore sold 5,680 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 15,305 shares in the company, valued at approximately $18,447,575.65. The trade was a 27.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.48% of the company’s stock.

Regeneron Pharmaceuticals Stock Performance

Shares of Regeneron Pharmaceuticals stock opened at $745.48 on Friday. The business’s fifty day simple moving average is $953.38 and its 200-day simple moving average is $1,028.16. The company has a quick ratio of 4.46, a current ratio of 5.28 and a debt-to-equity ratio of 0.09. The firm has a market cap of $81.92 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 2.81 and a beta of 0.15. Regeneron Pharmaceuticals, Inc. has a 52 week low of $735.95 and a 52 week high of $1,211.20.

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.