Morse Asset Management Inc Boosts Stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Morse Asset Management Inc raised its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 1.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,819 shares of the biopharmaceutical company’s stock after acquiring an additional 55 shares during the quarter. Regeneron Pharmaceuticals accounts for about 1.1% of Morse Asset Management Inc’s holdings, making the stock its 24th biggest position. Morse Asset Management Inc’s holdings in Regeneron Pharmaceuticals were worth $5,066,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in REGN. Rakuten Securities Inc. raised its holdings in Regeneron Pharmaceuticals by 380.0% during the third quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 19 shares during the last quarter. Stephens Consulting LLC acquired a new stake in Regeneron Pharmaceuticals in the 2nd quarter valued at about $26,000. Sachetta LLC increased its holdings in Regeneron Pharmaceuticals by 71.4% during the 2nd quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 10 shares in the last quarter. FSA Wealth Management LLC acquired a new position in Regeneron Pharmaceuticals during the third quarter worth about $26,000. Finally, Family Firm Inc. purchased a new stake in shares of Regeneron Pharmaceuticals in the second quarter valued at about $33,000. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

REGN has been the subject of several research reports. JPMorgan Chase & Co. cut their price objective on Regeneron Pharmaceuticals from $1,200.00 to $1,150.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company reduced their price objective on Regeneron Pharmaceuticals from $1,200.00 to $1,050.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Morgan Stanley cut their target price on shares of Regeneron Pharmaceuticals from $1,235.00 to $1,184.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Barclays lowered their target price on shares of 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. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $1,015.00 price target on shares of Regeneron Pharmaceuticals in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Regeneron Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $1,107.29.

Regeneron Pharmaceuticals Stock Down 1.7 %

Shares of NASDAQ:REGN opened at $749.57 on Wednesday. Regeneron Pharmaceuticals, Inc. has a 12-month low of $735.95 and a 12-month high of $1,211.20. The company has a current ratio of 5.28, a quick ratio of 4.46 and a debt-to-equity ratio of 0.09. The firm has a market cap of $82.37 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 2.94 and a beta of 0.08. The company has a fifty day simple moving average of $893.12 and a 200 day simple moving average of $1,016.56.

Regeneron Pharmaceuticals Company 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.