Arizona State Retirement System Purchases 550 Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Arizona State Retirement System raised its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 1.8% in the second quarter, Holdings Channel reports. The fund owned 31,293 shares of the biopharmaceutical company’s stock after buying an additional 550 shares during the quarter. Arizona State Retirement System’s holdings in Regeneron Pharmaceuticals were worth $32,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in REGN. Stephens Consulting LLC acquired a new stake in Regeneron Pharmaceuticals in the 2nd quarter valued at approximately $26,000. West Paces Advisors Inc. boosted its position in shares of Regeneron Pharmaceuticals by 575.0% in the first quarter. West Paces Advisors Inc. now owns 27 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 23 shares during the period. Crewe Advisors LLC acquired a new stake in shares of Regeneron Pharmaceuticals in the first quarter worth $28,000. Lynx Investment Advisory bought a new position in Regeneron Pharmaceuticals during the second quarter worth $33,000. Finally, Family Firm Inc. acquired a new position in Regeneron Pharmaceuticals during the 2nd quarter valued at $33,000. 83.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Morgan Stanley decreased their price target on shares of Regeneron Pharmaceuticals from $1,183.00 to $1,182.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $1,152.00 target price on shares of Regeneron Pharmaceuticals in a research report on Thursday, June 27th. Cantor Fitzgerald boosted their price target on shares of Regeneron Pharmaceuticals from $925.00 to $1,000.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. StockNews.com cut shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday. Finally, Barclays lifted their target price on shares of Regeneron Pharmaceuticals from $1,200.00 to $1,220.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Regeneron Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $1,108.95.

Insider Buying and Selling

In related news, Director Michael S. Brown sold 1,535 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $1,040.00, for a total transaction of $1,596,400.00. Following the completion of the sale, the director now directly owns 1,382 shares of the company’s stock, valued at $1,437,280. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Regeneron Pharmaceuticals news, Director Michael S. Brown sold 1,535 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $1,040.00, for a total value of $1,596,400.00. Following the completion of the sale, the director now owns 1,382 shares of the company’s stock, valued at $1,437,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Leonard S. Schleifer sold 9,064 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $1,015.43, for a total transaction of $9,203,857.52. Following the completion of the sale, the chief executive officer now directly owns 55,134 shares of the company’s stock, valued at approximately $55,984,717.62. The disclosure for this sale can be found here. Insiders sold a total of 20,625 shares of company stock valued at $22,298,963 over the last ninety days. Insiders own 7.48% of the company’s stock.

Regeneron Pharmaceuticals Price Performance

NASDAQ:REGN opened at $1,150.56 on Friday. The company has a quick ratio of 4.62, a current ratio of 5.44 and a debt-to-equity ratio of 0.10. The firm has a market cap of $126.84 billion, a PE ratio of 33.99, a price-to-earnings-growth ratio of 3.13 and a beta of 0.12. The company’s 50-day moving average price is $1,111.49 and its two-hundred day moving average price is $1,018.40. Regeneron Pharmaceuticals, Inc. has a 12 month low of $769.19 and a 12 month high of $1,211.20.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported $11.56 earnings per share for the quarter, topping analysts’ consensus estimates of $8.93 by $2.63. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.38 billion. Regeneron Pharmaceuticals had a net margin of 32.04% and a return on equity of 16.80%. Regeneron Pharmaceuticals’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.79 earnings per share. On average, equities analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 37.8 EPS for the current fiscal year.

About Regeneron Pharmaceuticals

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.