Covenant Asset Management LLC Cuts Position in Regeneron Pharmaceuticals Inc (REGN)

Covenant Asset Management LLC cut its position in shares of Regeneron Pharmaceuticals Inc (NASDAQ:REGN) by 24.2% during the first quarter, Holdings Channel reports. The firm owned 4,056 shares of the biopharmaceutical company’s stock after selling 1,296 shares during the period. Covenant Asset Management LLC’s holdings in Regeneron Pharmaceuticals were worth $1,572,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in REGN. Retirement Systems of Alabama raised its stake in shares of Regeneron Pharmaceuticals by 2.6% in the first quarter. Retirement Systems of Alabama now owns 36,757 shares of the biopharmaceutical company’s stock worth $14,244,000 after buying an additional 927 shares during the last quarter. Oakbrook Investments LLC purchased a new stake in shares of Regeneron Pharmaceuticals during the first quarter worth approximately $2,373,000. Nisa Investment Advisors LLC raised its stake in shares of Regeneron Pharmaceuticals by 51.0% in the first quarter. Nisa Investment Advisors LLC now owns 21,205 shares of the biopharmaceutical company’s stock worth $8,217,000 after buying an additional 7,159 shares during the last quarter. Capital Impact Advisors LLC raised its stake in shares of Regeneron Pharmaceuticals by 57.7% in the first quarter. Capital Impact Advisors LLC now owns 5,945 shares of the biopharmaceutical company’s stock worth $2,304,000 after buying an additional 2,175 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Regeneron Pharmaceuticals by 43.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,001 shares of the biopharmaceutical company’s stock worth $1,161,000 after buying an additional 916 shares during the last quarter. Hedge funds and other institutional investors own 68.83% of the company’s stock.

Institutional Ownership by Quarter for Regeneron Pharmaceuticals (NASDAQ:REGN)

Regeneron Pharmaceuticals Inc (NASDAQ:REGN) traded down 1.67% during trading on Friday, hitting $370.12. The stock had a trading volume of 639,912 shares. Regeneron Pharmaceuticals Inc has a one year low of $325.35 and a one year high of $452.96. The stock has a 50 day moving average of $379.46 and a 200 day moving average of $375.40. The firm has a market capitalization of $39.03 billion, a P/E ratio of 48.07 and a beta of 1.44.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its quarterly earnings results on Thursday, February 9th. The biopharmaceutical company reported $3.04 EPS for the quarter, topping the Zacks’ consensus estimate of $3.03 by $0.01. The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.30 billion. Regeneron Pharmaceuticals had a return on equity of 22.51% and a net margin of 18.10%. Regeneron Pharmaceuticals’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $2.83 earnings per share. Equities research analysts expect that Regeneron Pharmaceuticals Inc will post $12.92 earnings per share for the current fiscal year.

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A number of brokerages recently commented on REGN. Jefferies Group LLC reiterated a “hold” rating and issued a $357.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Wednesday, April 12th. Canaccord Genuity reiterated a “hold” rating and issued a $375.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Thursday, March 30th. BTIG Research reiterated a “buy” rating and issued a $460.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Wednesday, March 29th. BMO Capital Markets reiterated a “hold” rating and issued a $412.00 price objective (up from $408.00) on shares of Regeneron Pharmaceuticals in a research report on Tuesday, March 28th. Finally, Leerink Swann set a $448.00 price objective on Regeneron Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, March 28th. Fourteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $432.97.

In related news, Director Michael S. Brown sold 1,000 shares of Regeneron Pharmaceuticals stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $400.00, for a total transaction of $400,000.00. Following the sale, the director now directly owns 1,000 shares in the company, valued at $400,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 10.40% of the company’s stock.

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company commercializes medicines for eye diseases, high low-density lipoprotein (LDL) cholesterol, and an inflammatory condition and have product candidates in development in other areas, including rheumatoid arthritis, asthma, atopic dermatitis, pain, cancer, and infectious diseases.

5 Day Chart for NASDAQ:REGN

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