Suvretta Capital Management LLC Raises Stock Holdings in Regeneron Pharmaceuticals, Inc. $REGN

Key Points

• Suvretta Capital Management LLC boosted its stake in Regeneron by 105.4%, adding 9,100 shares to hold 17,730 shares valued at about $9.97 million, and institutional investors now own roughly 83.31% of the stock.
• Wall Street has a consensus rating of Moderate Buy with an average price target of $802.27, while several firms (Barclays, JPMorgan, Canaccord) have issued higher price targets, some as high as $1,057.
• Regeneron beat quarterly expectations with EPS of $11.44 versus $10.74 and revenue of $3.88 billion, and raised its quarterly dividend to $0.94 (annualized $3.76, ~0.5% yield).

Suvretta Capital Management LLC lifted its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Free Report) by 105.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,730 shares of the biopharmaceutical company's stock after acquiring an additional 9,100 shares during the period. Suvretta Capital Management LLC's holdings in Regeneron Pharmaceuticals were worth $9,969,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in REGN. Salomon & Ludwin LLC purchased a new position in Regeneron Pharmaceuticals in the 3rd quarter valued at about $27,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Regeneron Pharmaceuticals during the second quarter worth about $31,000. Caitlin John LLC acquired a new position in shares of Regeneron Pharmaceuticals in the third quarter valued at approximately $34,000. Traub Capital Management LLC acquired a new position in shares of Regeneron Pharmaceuticals in the second quarter valued at approximately $38,000. Finally, Berbice Capital Management LLC lifted its stake in shares of Regeneron Pharmaceuticals by 300.0% during the second quarter. Berbice Capital Management LLC now owns 80 shares of the biopharmaceutical company's stock valued at $42,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 83.31% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on REGN shares. Wall Street Zen lowered shares of Regeneron Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Sunday, March 8th. Barclays began coverage on Regeneron Pharmaceuticals in a report on Friday, March 6th. They issued an "overweight" rating and a $923.00 price target for the company. JPMorgan Chase & Co. upped their target price on Regeneron Pharmaceuticals from $850.00 to $950.00 and gave the company an "overweight" rating in a research note on Monday, February 2nd. Canaccord Genuity Group upped their price objective on shares of Regeneron Pharmaceuticals from $850.00 to $1,057.00 and gave the company a "buy" rating in a research note on Thursday, December 4th. Finally, Scotiabank raised their target price on shares of Regeneron Pharmaceuticals from $650.00 to $770.00 and gave the stock a "sector perform" rating in a research report on Monday, November 24th. Two research 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $802.27.

Regeneron Pharmaceuticals Stock Down 0.1%

REGN opened at $745.77 on Friday. The company has a market cap of $78.84 billion, a PE ratio of 17.94, a price-to-earnings-growth ratio of 2.01 and a beta of 0.41. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.39 and a current ratio of 4.13. Regeneron Pharmaceuticals, Inc. has a 1 year low of $476.49 and a 1 year high of $821.11. The firm has a 50 day moving average price of $769.73 and a 200 day moving average price of $694.17.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its quarterly earnings data on Friday, January 30th. The biopharmaceutical company reported $11.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $0.70. Regeneron Pharmaceuticals had a net margin of 31.41% and a return on equity of 13.04%. The company had revenue of $3.88 billion during the quarter, compared to the consensus estimate of $3.76 billion. During the same period in the previous year, the firm earned $12.07 earnings per share. Regeneron Pharmaceuticals's revenue for the quarter was up 2.5% on a year-over-year basis. Sell-side analysts expect that Regeneron Pharmaceuticals, Inc. will post 35.92 earnings per share for the current year.

Regeneron Pharmaceuticals Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Friday, February 20th were given a $0.94 dividend. This represents a $3.76 annualized dividend and a yield of 0.5%. This is a boost from Regeneron Pharmaceuticals's previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Friday, February 20th. Regeneron Pharmaceuticals's dividend payout ratio is 9.05%.

Insider Buying and Selling

In related news, SVP Jason Pitofsky sold 2,036 shares of the firm's stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $778.52, for a total transaction of $1,585,066.72. Following the sale, the senior vice president directly owned 4,272 shares in the company, valued at approximately $3,325,837.44. This trade represents a 32.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bonnie L. Bassler sold 1,500 shares of the company's stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $800.00, for a total value of $1,200,000.00. Following the completion of the transaction, the director owned 1,703 shares of the company's stock, valued at approximately $1,362,400. This represents a 46.83% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 5,274 shares of company stock worth $4,142,738. Company insiders own 7.02% of the company's stock.

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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