Wedge Capital Management L L P NC Buys Shares of 45,195 Regeneron Pharmaceuticals, Inc. $REGN

Wedge Capital Management L L P NC purchased a new position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) during the 3rd quarter, HoldingsChannel reports. The firm purchased 45,195 shares of the biopharmaceutical company’s stock, valued at approximately $25,412,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Brighton Jones LLC increased 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 worth $675,000 after buying an additional 686 shares during the last quarter. Algert Global LLC bought a new stake in shares of Regeneron Pharmaceuticals during the 1st quarter worth about $288,000. Quantbot Technologies LP boosted its stake in shares of Regeneron Pharmaceuticals by 234.1% during the 1st quarter. Quantbot Technologies LP now owns 1,764 shares of the biopharmaceutical company’s stock worth $1,119,000 after acquiring an additional 1,236 shares in the last quarter. CW Advisors LLC acquired a new position in shares of Regeneron Pharmaceuticals during the 1st quarter valued at about $920,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Regeneron Pharmaceuticals by 4.2% in the 1st quarter. Ameriprise Financial Inc. now owns 340,145 shares of the biopharmaceutical company’s stock valued at $215,571,000 after acquiring an additional 13,594 shares in the last quarter. Institutional investors own 83.31% of the company’s stock.

Wall Street Analysts Forecast Growth

REGN has been the subject of several analyst reports. Scotiabank boosted their target price on Regeneron Pharmaceuticals from $650.00 to $770.00 and gave the stock a “sector perform” rating in a report on Monday, November 24th. Weiss Ratings reissued a “hold (c)” rating on shares of Regeneron Pharmaceuticals in a research report on Monday, December 15th. Sanford C. Bernstein upped their price objective on shares of Regeneron Pharmaceuticals from $753.00 to $781.00 and gave the stock an “outperform” rating in a report on Wednesday, August 27th. BMO Capital Markets raised their target price on shares of Regeneron Pharmaceuticals from $725.00 to $850.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Finally, UBS Group lifted their target price on shares of Regeneron Pharmaceuticals from $595.00 to $660.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $779.45.

Insider Activity

In other Regeneron Pharmaceuticals news, VP Jason Pitofsky sold 431 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $651.43, for a total value of $280,766.33. Following the completion of the transaction, the vice president owned 4,233 shares of the company’s stock, valued at $2,757,503.19. This represents a 9.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christine A. Poon sold 6,500 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $654.27, for a total value of $4,252,755.00. Following the sale, the director directly owned 2,352 shares in the company, valued at $1,538,843.04. The trade was a 73.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 7.02% of the stock is currently owned by company insiders.

Regeneron Pharmaceuticals Trading Up 2.6%

Shares of Regeneron Pharmaceuticals stock opened at $767.96 on Friday. Regeneron Pharmaceuticals, Inc. has a 1 year low of $476.49 and a 1 year high of $790.98. The company’s fifty day simple moving average is $682.40 and its 200-day simple moving average is $600.42. The company has a market cap of $80.71 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.21 and a beta of 0.37. The company has a current ratio of 4.06, a quick ratio of 3.33 and a debt-to-equity ratio of 0.09.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $11.83 EPS for the quarter, beating the consensus estimate of $9.73 by $2.10. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Regeneron Pharmaceuticals had a net margin of 32.13% and a return on equity of 13.76%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $12.46 EPS. As a group, sell-side analysts expect that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current year.

Regeneron Pharmaceuticals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 5th. Investors of record on Thursday, November 20th were paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 0.5%. The ex-dividend date was Thursday, November 20th. Regeneron Pharmaceuticals’s dividend payout ratio (DPR) is presently 8.43%.

Regeneron Pharmaceuticals Company 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.