Parnassus Investments LLC Trims Position in Regeneron Pharmaceuticals, Inc. $REGN

Parnassus Investments LLC cut its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 96,545 shares of the biopharmaceutical company’s stock after selling 4,478 shares during the quarter. Parnassus Investments LLC’s holdings in Regeneron Pharmaceuticals were worth $74,520,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Sound Shore Management Inc CT purchased a new position in Regeneron Pharmaceuticals during the 3rd quarter worth approximately $64,677,000. Ellerson Group Inc. ADV raised its position in Regeneron Pharmaceuticals by 49.2% during the 3rd quarter. Ellerson Group Inc. ADV now owns 8,102 shares of the biopharmaceutical company’s stock worth $4,556,000 after buying an additional 2,671 shares during the last quarter. Nordea Investment Management AB raised its position in Regeneron Pharmaceuticals by 118.1% during the 4th quarter. Nordea Investment Management AB now owns 137,321 shares of the biopharmaceutical company’s stock worth $105,810,000 after buying an additional 74,350 shares during the last quarter. TD Asset Management Inc raised its position in Regeneron Pharmaceuticals by 15.9% during the 3rd quarter. TD Asset Management Inc now owns 374,264 shares of the biopharmaceutical company’s stock worth $210,437,000 after buying an additional 51,407 shares during the last quarter. Finally, Wealthfront Advisers LLC raised its position in Regeneron Pharmaceuticals by 28.7% during the 3rd quarter. Wealthfront Advisers LLC now owns 5,940 shares of the biopharmaceutical company’s stock worth $3,340,000 after buying an additional 1,325 shares during the last quarter. 83.31% of the stock is owned by hedge funds and other institutional investors.

Regeneron Pharmaceuticals News Summary

Here are the key news stories impacting Regeneron Pharmaceuticals this week:

• Positive Sentiment: Investor-focused writeups highlighted a bullish thesis on Regeneron, pointing to valuation metrics that look reasonable for a large-cap biotech and reinforcing the view that the stock may be attractive for long-term buyers. Is Regeneron Pharmaceuticals, Inc. (REGN) A Good Stock To Buy Now?
• Positive Sentiment: Regeneron-backed Parabilis Medicines completed a record-setting biotech IPO, and Regeneron also participated in a $75 million private placement, which could be viewed as a strategic investment in an emerging drug developer. Parabilis Medicines, Inc. Announces Pricing of Upsized Initial Public Offering of Common Stock at $20.00 per Share
• Neutral Sentiment: Regeneron announced a clinical-study update testing weekly Praluent dosing in a cholesterol trial; investors will likely watch for any sign the program could support future label expansion or demand, but this is still an early-stage study update. Regeneron Tests Weekly Praluent Dosing in New Cholesterol Study: What Investors Should Watch
• Negative Sentiment: Pomerantz LLP and Schall Law Firm both disclosed investigations into possible claims involving Regeneron, which adds legal overhang and could weigh on sentiment if the probes broaden or lead to litigation. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Regeneron Pharmaceuticals, Inc. – REGN REGN Investors Have Opportunity to Join Regeneron Pharmaceuticals, Inc. Fraud Investigation with the Schall Law Firm
• Negative Sentiment: Sensorion said it is shifting away from a hearing-loss gene therapy partly because the development environment has changed due to Regeneron competition, underscoring that REGN’s pipeline and competitive position can pressure rivals in specific therapeutic areas. Sensorion, citing Regeneron competition, shifts focus to a different hearing loss therapy

Insider Transactions at Regeneron Pharmaceuticals

In related news, Director Arthur F. Ryan sold 100 shares of Regeneron Pharmaceuticals stock in a transaction on Friday, May 1st. The shares were sold at an average price of $705.24, for a total value of $70,524.00. Following the sale, the director owned 17,503 shares of the company’s stock, valued at approximately $12,343,815.72. This trade represents a 0.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 6.97% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $800.00 price objective on shares of Regeneron Pharmaceuticals in a research note on Thursday, April 23rd. Citigroup cut shares of Regeneron Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $900.00 to $700.00 in a research note on Monday, May 18th. TD Cowen raised their price objective on shares of Regeneron Pharmaceuticals from $880.00 to $960.00 and gave the stock a “buy” rating in a research note on Thursday, April 23rd. BMO Capital Markets dropped their price objective on shares of Regeneron Pharmaceuticals from $900.00 to $730.00 and set an “outperform” rating on the stock in a research note on Monday, May 18th. Finally, Wells Fargo & Company dropped their price objective on shares of Regeneron Pharmaceuticals from $800.00 to $700.00 and set an “equal weight” rating on the stock in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, Regeneron Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $792.65.

Regeneron Pharmaceuticals Price Performance

Shares of NASDAQ REGN opened at $611.48 on Friday. The stock has a market capitalization of $64.65 billion, a price-to-earnings ratio of 14.90, a PEG ratio of 1.32 and a beta of 0.25. Regeneron Pharmaceuticals, Inc. has a 12 month low of $503.25 and a 12 month high of $821.11. The firm’s 50 day simple moving average is $695.41 and its 200-day simple moving average is $739.05. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.57 and a quick ratio of 2.96.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.91 by $0.56. Regeneron Pharmaceuticals had a net margin of 29.65% and a return on equity of 13.16%. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same quarter last year, the company earned $8.22 EPS. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. Analysts expect that Regeneron Pharmaceuticals, Inc. will post 37.44 EPS for the current year.

Regeneron Pharmaceuticals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Wednesday, May 20th were paid a $0.94 dividend. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $3.76 dividend on an annualized basis and a yield of 0.6%. Regeneron Pharmaceuticals’s dividend payout ratio (DPR) is currently 9.16%.

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.