Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Stake Cut by Harvey Capital Management Inc.

Harvey Capital Management Inc. lessened its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,822 shares of the biopharmaceutical company’s stock after selling 35 shares during the period. Regeneron Pharmaceuticals makes up about 3.4% of Harvey Capital Management Inc.’s portfolio, making the stock its 7th biggest holding. Harvey Capital Management Inc.’s holdings in Regeneron Pharmaceuticals were worth $13,479,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Stephens Consulting LLC purchased a new position in shares of Regeneron Pharmaceuticals in the second quarter worth $26,000. Sachetta LLC lifted its holdings in shares of Regeneron Pharmaceuticals by 71.4% in the 2nd quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 10 shares during the period. Crewe Advisors LLC purchased a new stake in shares of Regeneron Pharmaceuticals in the first quarter worth about $28,000. Lynx Investment Advisory acquired a new stake in Regeneron Pharmaceuticals during the second quarter worth about $33,000. Finally, Family Firm Inc. purchased a new position in Regeneron Pharmaceuticals during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on REGN shares. BMO Capital Markets lowered their price objective on Regeneron Pharmaceuticals from $1,300.00 to $1,190.00 and set an “outperform” rating on the stock in a research report on Friday. StockNews.com upgraded shares of Regeneron Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 22nd. Truist Financial decreased their price objective on shares of Regeneron Pharmaceuticals from $1,137.00 to $1,126.00 and set a “buy” rating for the company in a research report on Friday. Evercore ISI dropped their target price on Regeneron Pharmaceuticals from $1,250.00 to $1,175.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Leerink Partnrs cut Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,090.24.

Insiders Place Their Bets

In other Regeneron Pharmaceuticals news, VP Jason Pitofsky sold 487 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $1,070.00, for a total value of $521,090.00. Following the completion of the sale, the vice president now directly owns 4,204 shares of the company’s stock, valued at $4,498,280. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Jason Pitofsky sold 487 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $1,070.00, for a total transaction of $521,090.00. Following the completion of the sale, the vice president now owns 4,204 shares in the company, valued at $4,498,280. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Christopher R. Fenimore sold 5,680 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the completion of the transaction, the chief financial officer now owns 15,305 shares in the company, valued at $18,447,575.65. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.48% of the stock is currently owned by corporate insiders.

Regeneron Pharmaceuticals Price Performance

REGN traded up $5.40 on Friday, reaching $843.60. 1,087,285 shares of the company’s stock were exchanged, compared to its average volume of 768,492. The stock has a market cap of $93.00 billion, a PE ratio of 20.88, a P/E/G ratio of 2.88 and a beta of 0.15. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.99 and a quick ratio of 4.62. Regeneron Pharmaceuticals, Inc. has a twelve month low of $783.57 and a twelve month high of $1,211.20. The stock’s fifty day moving average price is $1,058.43 and its 200-day moving average price is $1,039.88.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported $11.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.93 by $2.63. Regeneron Pharmaceuticals had a return on equity of 16.88% and a net margin of 33.61%. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the business earned $8.79 earnings per share. The business’s revenue was up 12.3% compared to the same quarter last year. Sell-side analysts expect that Regeneron Pharmaceuticals, Inc. will post 37.46 EPS for the current year.

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.