ICICI Prudential Asset Management Co Ltd Raises Holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

ICICI Prudential Asset Management Co Ltd lifted its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 18.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,415 shares of the biopharmaceutical company’s stock after buying an additional 225 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Regeneron Pharmaceuticals were worth $1,488,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of REGN. Brown Lisle Cummings Inc. boosted its holdings in shares of Regeneron Pharmaceuticals by 18.2% during the second quarter. Brown Lisle Cummings Inc. now owns 65 shares of the biopharmaceutical company’s stock worth $68,000 after purchasing an additional 10 shares during the last quarter. Sachetta LLC boosted its holdings in shares of Regeneron Pharmaceuticals by 71.4% during the second quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 10 shares during the last quarter. Adirondack Trust Co. boosted its holdings in shares of Regeneron Pharmaceuticals by 2.4% during the third quarter. Adirondack Trust Co. now owns 431 shares of the biopharmaceutical company’s stock worth $453,000 after purchasing an additional 10 shares during the last quarter. UMB Bank n.a. raised its position in shares of Regeneron Pharmaceuticals by 1.1% in the 3rd quarter. UMB Bank n.a. now owns 908 shares of the biopharmaceutical company’s stock worth $955,000 after buying an additional 10 shares during the period. Finally, Angeles Wealth Management LLC raised its position in shares of Regeneron Pharmaceuticals by 3.5% in the 1st quarter. Angeles Wealth Management LLC now owns 325 shares of the biopharmaceutical company’s stock worth $313,000 after buying an additional 11 shares during the period. 83.31% of the stock is owned by hedge funds and other institutional investors.

Regeneron Pharmaceuticals Stock Down 1.1 %

NASDAQ:REGN traded down $8.88 during mid-day trading on Wednesday, reaching $812.12. The stock had a trading volume of 106,399 shares, compared to its average volume of 521,803. The company has a market capitalization of $89.24 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 3.12 and a beta of 0.15. Regeneron Pharmaceuticals, Inc. has a 1-year low of $784.96 and a 1-year high of $1,211.20. The stock’s 50 day simple moving average is $1,007.57 and its two-hundred day simple moving average is $1,037.30. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.28 and a quick ratio of 4.46.

Insider Buying and Selling

In related news, CFO Christopher R. Fenimore sold 5,680 shares of Regeneron Pharmaceuticals stock in a transaction dated Wednesday, August 28th. The stock was 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 directly owns 15,305 shares in the company, valued at approximately $18,447,575.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.48% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Leerink Partnrs lowered Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Evercore ISI cut 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. BMO Capital Markets cut their target price 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, November 1st. Piper Sandler cut their target price on Regeneron Pharmaceuticals from $1,242.00 to $1,195.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, Oppenheimer cut their target price on Regeneron Pharmaceuticals from $1,150.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, Regeneron Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $1,107.25.

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.