ARK Investment Management LLC Sells 1,088 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• ARK Investment Management LLC reduced its stake in Regeneron Pharmaceuticals by 7.9%, selling 1,088 shares, and now holds a total of 12,606 shares valued at approximately $6.6 million.
• Multiple analyses have resulted in varying price targets for Regeneron Pharmaceuticals, with the average target sitting at $817.88 and most analysts rating the stock as a "Moderate Buy."
• The company's recent quarterly earnings exceeded estimates, reporting an earnings per share (EPS) of $12.89 against an expected $8.43, with revenue reaching $3.68 billion.

ARK Investment Management LLC trimmed its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 7.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,606 shares of the biopharmaceutical company's stock after selling 1,088 shares during the quarter. ARK Investment Management LLC's holdings in Regeneron Pharmaceuticals were worth $6,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. E Fund Management Hong Kong Co. Ltd. increased its stake in Regeneron Pharmaceuticals by 344.4% during the 1st quarter. E Fund Management Hong Kong Co. Ltd. now owns 40 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Activest Wealth Management increased its stake in Regeneron Pharmaceuticals by 110.5% during the 1st quarter. Activest Wealth Management now owns 40 shares of the biopharmaceutical company's stock valued at $25,000 after purchasing an additional 21 shares in the last quarter. Costello Asset Management INC bought a new stake in Regeneron Pharmaceuticals during the 1st quarter valued at about $27,000. Saudi Central Bank bought a new stake in Regeneron Pharmaceuticals during the 1st quarter valued at about $27,000. Finally, Colonial Trust Advisors bought a new stake in Regeneron Pharmaceuticals during the 1st quarter valued at about $32,000. 83.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

REGN has been the subject of a number of analyst reports. Raymond James Financial upgraded shares of Regeneron Pharmaceuticals to a "moderate buy" rating in a research note on Tuesday, September 2nd. Canaccord Genuity Group restated a "buy" rating and set a $850.00 price objective on shares of Regeneron Pharmaceuticals in a research note on Tuesday, October 14th. Citigroup raised their price target on shares of Regeneron Pharmaceuticals from $650.00 to $660.00 and gave the company a "buy" rating in a report on Monday, October 13th. Guggenheim raised their price target on shares of Regeneron Pharmaceuticals from $810.00 to $815.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Sanford C. Bernstein raised their price target on shares of Regeneron Pharmaceuticals from $753.00 to $781.00 and gave the company an "outperform" rating in a report on Wednesday, August 27th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Regeneron Pharmaceuticals currently has an average rating of "Moderate Buy" and an average target price of $817.88.

Regeneron Pharmaceuticals Stock Performance

REGN opened at $579.34 on Wednesday. The company has a current ratio of 4.60, a quick ratio of 3.72 and a debt-to-equity ratio of 0.09. The company has a market cap of $61.40 billion, a price-to-earnings ratio of 14.60, a PEG ratio of 1.80 and a beta of 0.31. The company's 50 day moving average is $575.71 and its 200 day moving average is $562.26. Regeneron Pharmaceuticals, Inc. has a 12-month low of $476.49 and a 12-month high of $972.74.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The biopharmaceutical company reported $12.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.43 by $4.46. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.30 billion. Regeneron Pharmaceuticals had a net margin of 31.37% and a return on equity of 15.06%. The firm's revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $11.56 earnings per share. On average, equities research analysts predict that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current year.

Regeneron Pharmaceuticals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Monday, August 18th were issued a $0.88 dividend. The ex-dividend date of this dividend was Monday, August 18th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.6%. Regeneron Pharmaceuticals's dividend payout ratio (DPR) is presently 8.87%.

Regeneron Pharmaceuticals Company 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.

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