Cibc World Market Inc. Decreases Stake in Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• CIBC World Market Inc. reduced its Regeneron Pharmaceuticals stake by 37.3% in the fourth quarter, selling 5,871 shares and leaving it with 9,862 shares valued at about $7.6 million.
• Wall Street sentiment remains broadly positive: analysts currently rate REGN a Moderate Buy, with an average price target of $792.65, though several firms recently cut their targets.
• Regeneron reported strong quarterly results, beating estimates on both earnings and revenue, while recent news also highlighted pipeline progress, including an expanded CytomX cancer partnership and encouraging Lynozyfic trial data.

Cibc World Market Inc. cut its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 37.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,862 shares of the biopharmaceutical company's stock after selling 5,871 shares during the quarter. Cibc World Market Inc.'s holdings in Regeneron Pharmaceuticals were worth $7,612,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of REGN. WPG Advisers LLC boosted its stake in shares of Regeneron Pharmaceuticals by 312.5% in the fourth quarter. WPG Advisers LLC now owns 33 shares of the biopharmaceutical company's stock valued at $25,000 after buying an additional 25 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of Regeneron Pharmaceuticals in the fourth quarter valued at approximately $31,000. Entrust Financial LLC purchased a new stake in shares of Regeneron Pharmaceuticals in the fourth quarter valued at approximately $32,000. Caitlin John LLC purchased a new stake in shares of Regeneron Pharmaceuticals in the third quarter valued at approximately $34,000. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Regeneron Pharmaceuticals in the fourth quarter valued at approximately $38,000. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. BMO Capital Markets decreased their price target on Regeneron Pharmaceuticals from $900.00 to $730.00 and set an "outperform" rating on the stock in a research note on Monday, May 18th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $800.00 price objective on shares of Regeneron Pharmaceuticals in a report on Thursday, April 23rd. Morgan Stanley lifted their price objective on Regeneron Pharmaceuticals from $769.00 to $796.00 and gave the stock an "equal weight" rating in a report on Friday, April 10th. Wells Fargo & Company reduced their price objective on Regeneron Pharmaceuticals from $800.00 to $700.00 and set an "equal weight" rating for the company in a report on Monday, May 18th. Finally, Piper Sandler reduced their price objective on Regeneron Pharmaceuticals from $875.00 to $855.00 and set an "overweight" rating for the company in a report on Monday, May 18th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Regeneron Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $792.65.

Regeneron Pharmaceuticals News Summary

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

• Positive Sentiment: Regeneron expanded its cancer therapy partnership with CytomX Therapeutics, a deal that could generate up to $4 billion in potential milestones and broadens its bispecific oncology pipeline. REGN Expands Cancer Deal With CytomX for Bispecific Therapeutics
• Positive Sentiment: The company also reported highly favorable Lynozyfic trial results in light chain amyloidosis, which supports the view that Regeneron’s clinical pipeline may have additional upside. A Look At Regeneron Pharmaceuticals (REGN) Valuation After Expanded CytomX Partnership And Positive Lynozyfic Trial Results
• Positive Sentiment: Regeneron said it will highlight new data from its metabolic disease, ophthalmology and rare disease programs at upcoming ADA and ENDO meetings, giving investors another near-term catalyst to watch. Regeneron to Highlight Progress Across Its Metabolic Disease, Ophthalmology and Rare Disease Pipelines at ADA and ENDO
• Neutral Sentiment: Parabilis Medicines, a Regeneron-partnered biotech, is pursuing an IPO to advance zolucatetide into Phase III, which could indirectly reflect on Regeneron’s partner network but does not directly change REGN’s fundamentals. Parabilis eyes $475m IPO to push lead asset into Phase III
• Negative Sentiment: An investor alert from Pomerantz LLP announced an investigation into claims on behalf of Regeneron shareholders, which may create some legal overhang and weigh on sentiment. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Regeneron Pharmaceuticals, Inc. - REGN

Insider Buying and Selling

In related news, Director Arthur F. Ryan sold 100 shares of the company's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $705.24, for a total value of $70,524.00. Following the completion of the transaction, the director directly owned 17,503 shares in the company, valued at approximately $12,343,815.72. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.97% of the company's stock.

Regeneron Pharmaceuticals Trading Up 1.1%

Regeneron Pharmaceuticals stock opened at $635.45 on Friday. The stock has a market cap of $67.18 billion, a PE ratio of 15.48, a P/E/G ratio of 1.40 and a beta of 0.25. The stock has a 50-day moving average price of $706.93 and a 200 day moving average price of $742.16. Regeneron Pharmaceuticals, Inc. has a 52 week low of $485.00 and a 52 week high of $821.11. The company has a current ratio of 3.57, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 EPS for the quarter, beating the consensus estimate of $8.91 by $0.56. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.48 billion. Regeneron Pharmaceuticals had a return on equity of 13.16% and a net margin of 29.65%.The business's quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.22 earnings per share. Equities research analysts predict that Regeneron Pharmaceuticals, Inc. will post 37.44 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Wednesday, May 20th were paid a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.6%. The ex-dividend date was Wednesday, May 20th. Regeneron Pharmaceuticals's dividend payout ratio is presently 9.16%.

Regeneron Pharmaceuticals Company 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.

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