Simplify Asset Management Inc. Has $8.42 Million Holdings in Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Simplify Asset Management Inc. cut its Regeneron Pharmaceuticals stake by 65% in the first quarter, selling 20,253 shares and ending with 10,900 shares valued at about $8.42 million.
• Regeneron reported strong quarterly results, with EPS of $9.47 beating estimates and revenue of $3.61 billion, up 19% year over year.
• Analysts remain generally positive but have trimmed price targets recently; the stock carries a consensus Moderate Buy rating with an average target of $792.65.

Simplify Asset Management Inc. reduced its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 65.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,900 shares of the biopharmaceutical company's stock after selling 20,253 shares during the period. Regeneron Pharmaceuticals makes up about 0.1% of Simplify Asset Management Inc.'s portfolio, making the stock its 23rd biggest holding. Simplify Asset Management Inc.'s holdings in Regeneron Pharmaceuticals were worth $8,422,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. WPG Advisers LLC lifted its position in shares of Regeneron Pharmaceuticals by 312.5% during the 4th quarter. WPG Advisers LLC now owns 33 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 25 shares during the period. SHP Wealth Management bought a new position in shares of Regeneron Pharmaceuticals in the fourth quarter worth $26,000. Titan Wealth CI Ltd bought a new position in shares of Regeneron Pharmaceuticals in the fourth quarter worth $29,000. Board of the Pension Protection Fund acquired a new position in Regeneron Pharmaceuticals in the fourth quarter valued at about $31,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Regeneron Pharmaceuticals in the fourth quarter valued at about $31,000. 83.31% of the stock is currently owned by institutional investors.

Insider Activity

In other Regeneron Pharmaceuticals news, Director Arthur F. Ryan sold 100 shares of the company's stock in a transaction on Friday, May 1st. The shares were sold at an average price of $705.24, for a total transaction of $70,524.00. Following the transaction, the director 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 filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Regeneron Pharmaceuticals in a report on Wednesday, June 24th. Canaccord Genuity Group lowered their price objective on shares of Regeneron Pharmaceuticals from $1,057.00 to $875.00 and set a "buy" rating for the company in a research report on Tuesday, May 19th. Barclays lowered their price objective 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. Truist Financial cut their target price on Regeneron Pharmaceuticals from $796.00 to $778.00 and set a "buy" rating for the company in a research note on Monday, May 18th. Finally, JPMorgan Chase & Co. reduced their target price on Regeneron Pharmaceuticals from $950.00 to $850.00 and set an "overweight" rating on the stock in a report on Monday, May 18th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Regeneron Pharmaceuticals has an average rating of "Moderate Buy" and an average price target of $792.65.

Regeneron Pharmaceuticals Price Performance

Shares of REGN opened at $654.27 on Friday. The stock's 50-day moving average price is $652.48 and its two-hundred day moving average price is $725.50. Regeneron Pharmaceuticals, Inc. has a 12 month low of $532.60 and a 12 month high of $821.11. The company has a market capitalization of $69.17 billion, a PE ratio of 15.94, a PEG ratio of 1.44 and a beta of 0.24. 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 quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share (EPS) for the quarter, topping 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%. The company's revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the business earned $8.22 EPS. On average, analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 37.44 EPS for the current year.

Regeneron Pharmaceuticals Dividend Announcement

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

Regeneron Pharmaceuticals 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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