ExodusPoint Capital Management LP Raises Stock Holdings in Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• ExodusPoint Capital Management increased its Regeneron stake by 151.6% in the fourth quarter, buying an additional 42,048 shares and bringing its total holdings to 69,780 shares worth about $53.9 million.
• Regeneron reported better-than-expected quarterly results, with earnings per share of $9.47 versus estimates of $8.91 and revenue of $3.61 billion, up 19% year over year.
• Analysts remain largely positive on the stock, with a Moderate Buy consensus and an average price target of $792.65, though several firms trimmed their targets recently.

ExodusPoint Capital Management LP lifted its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 151.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,780 shares of the biopharmaceutical company's stock after purchasing an additional 42,048 shares during the quarter. Regeneron Pharmaceuticals accounts for approximately 0.4% of ExodusPoint Capital Management LP's portfolio, making the stock its 19th largest position. ExodusPoint Capital Management LP owned about 0.07% of Regeneron Pharmaceuticals worth $53,861,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Regeneron Pharmaceuticals in the 4th quarter worth approximately $1,012,296,000. Nuveen LLC lifted its position in Regeneron Pharmaceuticals by 71.1% in the 4th quarter. Nuveen LLC now owns 2,010,517 shares of the biopharmaceutical company's stock worth $1,551,858,000 after buying an additional 835,240 shares during the last quarter. Dodge & Cox lifted its position in Regeneron Pharmaceuticals by 18.9% in the 3rd quarter. Dodge & Cox now owns 4,550,845 shares of the biopharmaceutical company's stock worth $2,558,804,000 after buying an additional 724,562 shares during the last quarter. AQR Capital Management LLC lifted its position in Regeneron Pharmaceuticals by 528.7% in the 3rd quarter. AQR Capital Management LLC now owns 721,354 shares of the biopharmaceutical company's stock worth $405,596,000 after buying an additional 606,612 shares during the last quarter. Finally, Invesco Ltd. lifted its position in Regeneron Pharmaceuticals by 38.0% in the 3rd quarter. Invesco Ltd. now owns 1,484,473 shares of the biopharmaceutical company's stock worth $834,675,000 after buying an additional 408,649 shares during the last quarter. Hedge funds and other institutional investors own 83.31% of the company's stock.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN stock opened at $614.73 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.96 and a current ratio of 3.57. Regeneron Pharmaceuticals, Inc. has a fifty-two week low of $503.25 and a fifty-two week high of $821.11. The stock has a 50 day moving average price of $686.23 and a two-hundred day moving average price of $735.59. The company has a market capitalization of $64.99 billion, a P/E ratio of 14.98, a PEG ratio of 1.35 and a beta of 0.25.

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

Regeneron Pharmaceuticals Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Sanford C. Bernstein dropped their target price on Regeneron Pharmaceuticals from $925.00 to $921.00 and set an "outperform" rating for the company in a research report on Wednesday, April 8th. Piper Sandler dropped their target price on Regeneron Pharmaceuticals from $875.00 to $855.00 and set an "overweight" rating for the company in a research report on Monday, May 18th. Barclays dropped their target price on Regeneron Pharmaceuticals from $923.00 to $917.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. BMO Capital Markets dropped their target price on Regeneron Pharmaceuticals from $900.00 to $730.00 and set an "outperform" rating for the company in a research report on Monday, May 18th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Regeneron Pharmaceuticals in a research report on Friday, March 27th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $792.65.

Insiders Place Their Bets

In other Regeneron Pharmaceuticals news, Director Arthur F. Ryan sold 100 shares of the business's stock in a transaction that occurred 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 sale, the director owned 17,503 shares in the company, valued at approximately $12,343,815.72. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.97% of the company's stock.

About Regeneron Pharmaceuticals

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.