Pinnacle Associates Ltd. Has $47.34 Million Stock Holdings in Regeneron Pharmaceuticals, Inc. $REGN

Pinnacle Associates Ltd. increased its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 22.1% in the third quarter, Holdings Channel.com reports. The firm owned 84,191 shares of the biopharmaceutical company’s stock after acquiring an additional 15,265 shares during the period. Pinnacle Associates Ltd.’s holdings in Regeneron Pharmaceuticals were worth $47,338,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in REGN. Salomon & Ludwin LLC acquired a new stake in shares of Regeneron Pharmaceuticals during the 3rd quarter worth approximately $27,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Regeneron Pharmaceuticals in the second quarter valued at approximately $31,000. Caitlin John LLC acquired a new position in Regeneron Pharmaceuticals in the third quarter valued at approximately $34,000. Traub Capital Management LLC bought a new position in Regeneron Pharmaceuticals in the second quarter valued at approximately $38,000. Finally, E Fund Management Hong Kong Co. Ltd. boosted its stake in Regeneron Pharmaceuticals by 87.5% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 75 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 35 shares during the last quarter. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

REGN has been the subject of several recent research reports. Zacks Research cut shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Barclays started coverage on Regeneron Pharmaceuticals in a research report on Friday. They issued an “overweight” rating and a $923.00 price target on the stock. Wells Fargo & Company upped their price objective on Regeneron Pharmaceuticals from $745.00 to $800.00 and gave the company an “equal weight” rating in a report on Monday, February 2nd. Oppenheimer restated an “outperform” rating and set a $865.00 target price (up from $750.00) on shares of Regeneron Pharmaceuticals in a report on Monday, February 2nd. Finally, Wall Street Zen downgraded shares of Regeneron Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Sunday. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $802.27.

Insider Activity at Regeneron Pharmaceuticals

In related news, Director Arthur F. Ryan sold 100 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $778.53, for a total transaction of $77,853.00. Following the sale, the director directly owned 17,803 shares in the company, valued at $13,860,169.59. This trade represents a 0.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Bonnie L. Bassler sold 1,500 shares of the business’s stock in a transaction on Wednesday, January 7th. The shares were 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 5,274 shares of company stock valued at $4,142,738. Corporate insiders own 7.02% of the company’s stock.

Regeneron Pharmaceuticals Stock Performance

REGN stock opened at $759.82 on Friday. Regeneron Pharmaceuticals, Inc. has a 1-year low of $476.49 and a 1-year high of $821.11. The company has a current ratio of 4.13, a quick ratio of 3.39 and a debt-to-equity ratio of 0.09. The firm has a market cap of $80.33 billion, a PE ratio of 18.28, a P/E/G ratio of 2.04 and a beta of 0.41. The business’s 50-day moving average price is $770.81 and its two-hundred day moving average price is $688.75.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings results on Friday, January 30th. The biopharmaceutical company reported $11.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $0.70. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.76 billion. Regeneron Pharmaceuticals had a return on equity of 13.04% and a net margin of 31.41%.The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the prior year, the company earned $12.07 earnings per share. As a group, research analysts forecast that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share 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 dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend was Friday, February 20th. This is a positive change from Regeneron Pharmaceuticals’s previous quarterly dividend of $0.88. Regeneron Pharmaceuticals’s dividend payout ratio (DPR) is currently 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.