Parnassus Investments LLC Sells 4,478 Shares of Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Parnassus Investments LLC reduced its Regeneron stake by 4.4% in the fourth quarter, selling 4,478 shares and ending with 96,545 shares valued at about $74.5 million.
• Regeneron continues to attract strong institutional interest, with 83.31% of shares held by institutions, while several other funds added to or trimmed positions during the period.
• Analysts remain broadly positive despite some lower price targets: the stock carries a Moderate Buy consensus with an average target of $792.65, while Regeneron also recently beat quarterly earnings and raised revenue 19% year over year.

Parnassus Investments LLC trimmed its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 96,545 shares of the biopharmaceutical company's stock after selling 4,478 shares during the period. Parnassus Investments LLC owned about 0.09% of Regeneron Pharmaceuticals worth $74,520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Keel Point LLC grew its holdings in Regeneron Pharmaceuticals by 21.5% during the 4th quarter. Keel Point LLC now owns 543 shares of the biopharmaceutical company's stock worth $419,000 after acquiring an additional 96 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in Regeneron Pharmaceuticals by 0.4% during the 4th quarter. IFM Investors Pty Ltd now owns 20,738 shares of the biopharmaceutical company's stock worth $16,007,000 after acquiring an additional 75 shares in the last quarter. SmartHarvest Portfolios LLC bought a new position in Regeneron Pharmaceuticals during the 4th quarter worth about $323,000. Picton Mahoney Asset Management grew its holdings in Regeneron Pharmaceuticals by 89.2% during the 4th quarter. Picton Mahoney Asset Management now owns 15,584 shares of the biopharmaceutical company's stock worth $12,029,000 after acquiring an additional 7,349 shares in the last quarter. Finally, Vestor Capital LLC bought a new position in Regeneron Pharmaceuticals during the 4th quarter worth about $1,545,000. 83.31% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

REGN has been the subject of several analyst reports. BMO Capital Markets decreased their price target on shares of Regeneron Pharmaceuticals from $900.00 to $730.00 and set an "outperform" rating for the company in a research report on Monday, May 18th. TD Cowen increased their price target on shares of Regeneron Pharmaceuticals from $880.00 to $960.00 and gave the company a "buy" rating in a research report on Thursday, April 23rd. Royal Bank Of Canada decreased their price target on shares of Regeneron Pharmaceuticals from $762.00 to $707.00 and set a "sector perform" rating for the company in a research report on Monday, May 18th. Barclays decreased their price target on shares of Regeneron Pharmaceuticals from $923.00 to $917.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. Finally, Morgan Stanley increased their price target on shares of Regeneron Pharmaceuticals from $769.00 to $796.00 and gave the company an "equal weight" rating in a research report on Friday, April 10th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Regeneron Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average price target of $792.65.

Regeneron Pharmaceuticals Stock Performance

Shares of Regeneron Pharmaceuticals stock opened at $611.48 on Friday. The firm has a market capitalization of $64.65 billion, a P/E ratio of 14.90, a PEG ratio of 1.32 and a beta of 0.25. The company has a quick ratio of 2.96, a current ratio of 3.57 and a debt-to-equity ratio of 0.06. The company has a 50 day moving average price of $695.41 and a 200 day moving average price of $739.05. Regeneron Pharmaceuticals, Inc. has a 52 week low of $503.25 and a 52 week high of $821.11.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last announced its quarterly earnings data 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 net margin of 29.65% and a return on equity of 13.16%. Regeneron Pharmaceuticals's revenue was up 19.0% on a year-over-year basis. During the same period last year, the firm posted $8.22 EPS. Sell-side analysts expect that Regeneron Pharmaceuticals, Inc. will post 37.44 EPS for the current year.

Regeneron Pharmaceuticals Announces Dividend

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

More Regeneron Pharmaceuticals News

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

• Positive Sentiment: Investor-focused writeups highlighted a bullish thesis on Regeneron, pointing to valuation metrics that look reasonable for a large-cap biotech and reinforcing the view that the stock may be attractive for long-term buyers. Is Regeneron Pharmaceuticals, Inc. (REGN) A Good Stock To Buy Now?
• Positive Sentiment: Regeneron-backed Parabilis Medicines completed a record-setting biotech IPO, and Regeneron also participated in a $75 million private placement, which could be viewed as a strategic investment in an emerging drug developer. Parabilis Medicines, Inc. Announces Pricing of Upsized Initial Public Offering of Common Stock at $20.00 per Share
• Neutral Sentiment: Regeneron announced a clinical-study update testing weekly Praluent dosing in a cholesterol trial; investors will likely watch for any sign the program could support future label expansion or demand, but this is still an early-stage study update. Regeneron Tests Weekly Praluent Dosing in New Cholesterol Study: What Investors Should Watch
• Negative Sentiment: Pomerantz LLP and Schall Law Firm both disclosed investigations into possible claims involving Regeneron, which adds legal overhang and could weigh on sentiment if the probes broaden or lead to litigation. INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Regeneron Pharmaceuticals, Inc. - REGN REGN Investors Have Opportunity to Join Regeneron Pharmaceuticals, Inc. Fraud Investigation with the Schall Law Firm
• Negative Sentiment: Sensorion said it is shifting away from a hearing-loss gene therapy partly because the development environment has changed due to Regeneron competition, underscoring that REGN’s pipeline and competitive position can pressure rivals in specific therapeutic areas. Sensorion, citing Regeneron competition, shifts focus to a different hearing loss therapy

Insider Activity at Regeneron Pharmaceuticals

In related news, Director Arthur F. Ryan sold 100 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were 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 of the company's stock, valued at $12,343,815.72. This trade represents a 0.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.97% of the stock is owned by insiders.

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.

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.