State of Alaska Department of Revenue Boosts Holdings in Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• The State of Alaska Department of Revenue increased its stake in Regeneron Pharmaceuticals by 15.2%, now holding nearly 20,000 shares valued at approximately $10.48 million.
• Recent analyst reports show mixed ratings for Regeneron Pharmaceuticals, with Morgan Stanley maintaining an "overweight" rating and a target price of $761.00, while Wells Fargo downgraded it to an "equal weight" with a target of $580.00.
• Regeneron reported strong quarterly earnings of $12.89 EPS, significantly exceeding expectations, with revenue of $3.68 billion, marking a 3.6% increase year-over-year.

State of Alaska Department of Revenue lifted its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 15.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,965 shares of the biopharmaceutical company's stock after buying an additional 2,640 shares during the quarter. State of Alaska Department of Revenue's holdings in Regeneron Pharmaceuticals were worth $10,480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of REGN. GAMMA Investing LLC lifted its stake in shares of Regeneron Pharmaceuticals by 89,825.0% in the 1st quarter. GAMMA Investing LLC now owns 815,620 shares of the biopharmaceutical company's stock valued at $517,291,000 after purchasing an additional 814,713 shares during the period. Nuveen LLC purchased a new stake in Regeneron Pharmaceuticals in the first quarter worth $343,764,000. Pacer Advisors Inc. raised its holdings in Regeneron Pharmaceuticals by 2,296.9% in the first quarter. Pacer Advisors Inc. now owns 407,370 shares of the biopharmaceutical company's stock worth $258,366,000 after purchasing an additional 390,374 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in Regeneron Pharmaceuticals by 171.0% during the first quarter. Assenagon Asset Management S.A. now owns 481,389 shares of the biopharmaceutical company's stock valued at $305,311,000 after buying an additional 303,785 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Regeneron Pharmaceuticals by 18.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,143,093 shares of the biopharmaceutical company's stock valued at $724,984,000 after buying an additional 174,056 shares in the last quarter. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on REGN. Wells Fargo & Company lowered shares of Regeneron Pharmaceuticals from an "overweight" rating to an "equal weight" rating and set a $580.00 price target for the company. in a research note on Friday, August 1st. Argus downgraded shares of Regeneron Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Monday, June 30th. Morgan Stanley reiterated an "overweight" rating and set a $761.00 target price (up from $754.00) on shares of Regeneron Pharmaceuticals in a report on Friday, August 1st. Citigroup restated a "buy" rating and issued a $650.00 price target on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Finally, Rothschild & Co Redburn began coverage on Regeneron Pharmaceuticals in a research note on Thursday, August 14th. They set a "buy" rating and a $890.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $817.67.

Regeneron Pharmaceuticals Price Performance

NASDAQ REGN opened at $563.90 on Friday. Regeneron Pharmaceuticals, Inc. has a one year low of $476.49 and a one year high of $1,070.00. The stock has a 50-day moving average of $569.79 and a 200 day moving average of $570.27. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.72 and a current ratio of 4.60. The company has a market capitalization of $59.77 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.80 and a beta of 0.35.

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

Regeneron Pharmaceuticals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Monday, August 18th were paid a $0.88 dividend. The ex-dividend date was Monday, August 18th. This represents a $3.52 annualized dividend and a yield of 0.6%. Regeneron Pharmaceuticals's payout ratio is presently 8.87%.

About Regeneron Pharmaceuticals

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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