Fred Alger Management LLC Invests $8.65 Million in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Fred Alger Management LLC acquired a new stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN – Get Rating) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 12,559 shares of the biopharmaceutical company’s stock, valued at approximately $8,652,000.

Several other institutional investors have also modified their holdings of REGN. Price T Rowe Associates Inc. MD lifted its holdings in shares of Regeneron Pharmaceuticals by 92.5% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,694,308 shares of the biopharmaceutical company’s stock valued at $1,001,556,000 after purchasing an additional 813,967 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Regeneron Pharmaceuticals by 108.3% during the 2nd quarter. Renaissance Technologies LLC now owns 583,062 shares of the biopharmaceutical company’s stock valued at $344,665,000 after purchasing an additional 303,200 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Regeneron Pharmaceuticals during the 3rd quarter valued at about $136,678,000. FMR LLC lifted its holdings in shares of Regeneron Pharmaceuticals by 1.9% during the 2nd quarter. FMR LLC now owns 10,176,199 shares of the biopharmaceutical company’s stock valued at $6,015,457,000 after purchasing an additional 193,175 shares in the last quarter. Finally, Great West Life Assurance Co. Can bought a new position in shares of Regeneron Pharmaceuticals during the 3rd quarter valued at about $116,414,000. Institutional investors own 84.25% of the company’s stock.

Regeneron Pharmaceuticals Stock Up 1.9 %

REGN stock opened at $766.80 on Wednesday. The company has a current ratio of 5.06, a quick ratio of 4.29 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $83.83 billion, a PE ratio of 20.05, a PEG ratio of 2.57 and a beta of 0.21. Regeneron Pharmaceuticals, Inc. has a 1-year low of $538.01 and a 1-year high of $800.48. The business’s 50 day simple moving average is $745.23 and its 200 day simple moving average is $727.19.

Regeneron Pharmaceuticals (NASDAQ:REGN – Get Rating) last posted its earnings results on Friday, February 3rd. The biopharmaceutical company reported $12.56 earnings per share for the quarter, topping analysts’ consensus estimates of $8.18 by $4.38. The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.11 billion. Regeneron Pharmaceuticals had a return on equity of 22.87% and a net margin of 35.64%. The firm’s revenue was down 31.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $23.72 EPS. As a group, research analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 34.22 EPS for the current year.

Insider Buying and Selling

In other Regeneron Pharmaceuticals news, insider George Yancopoulos sold 13,189 shares of the company’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $800.08, for a total value of $10,552,255.12. Following the transaction, the insider now directly owns 200,504 shares of the company’s stock, valued at approximately $160,419,240.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Regeneron Pharmaceuticals news, Director N Anthony Coles sold 5,758 shares of the company’s stock in a transaction on Wednesday, December 28th. The stock was sold at an average price of $714.11, for a total value of $4,111,845.38. Following the transaction, the director now directly owns 1,093 shares of the company’s stock, valued at approximately $780,522.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider George Yancopoulos sold 13,189 shares of the company’s stock in a transaction on Monday, February 6th. The shares were sold at an average price of $800.08, for a total value of $10,552,255.12. Following the completion of the transaction, the insider now directly owns 200,504 shares in the company, valued at $160,419,240.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,273 shares of company stock valued at $21,189,979. 8.99% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Cowen upgraded Regeneron Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $775.00 to $875.00 in a research note on Monday, January 30th. Royal Bank of Canada boosted their target price on Regeneron Pharmaceuticals from $787.00 to $806.00 and gave the company a “sector perform” rating in a research note on Thursday, March 9th. Robert W. Baird boosted their target price on Regeneron Pharmaceuticals from $670.00 to $756.00 in a research note on Monday, February 6th. Wells Fargo & Company boosted their target price on Regeneron Pharmaceuticals from $800.00 to $860.00 and gave the company an “overweight” rating in a research note on Friday, February 17th. Finally, StockNews.com upgraded Regeneron Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, February 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Regeneron Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $815.38.

About Regeneron Pharmaceuticals

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Regeneron Pharmaceuticals, Inc is a biotechnology company, which engages in the discovery, invention, development, manufacture, and commercialization of medicines. Its product portfolio includes the following brands: EYLEA, Dupixent, Praluent, Kevzara, Libtayo, ARCALYST, and ZALTRAP. The firm accelerates the traditional drug development process through its proprietary VelociSuite technologies such as VelocImmune, which uses unique genetically-humanized mice to produce optimized fully-human antibodies and bispecific antibodies.