Lord Abbett & CO. LLC Invests $51.93 Million in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Lord Abbett & CO. LLC bought a new position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 105,736 shares of the biopharmaceutical company’s stock, valued at approximately $51,931,000. Lord Abbett & CO. LLC owned 0.10% of Regeneron Pharmaceuticals at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Alpha Windward LLC grew its holdings in shares of Regeneron Pharmaceuticals by 0.3% in the 2nd quarter. Alpha Windward LLC now owns 384 shares of the biopharmaceutical company’s stock worth $189,000 after acquiring an additional 1 shares during the period. Regentatlantic Capital LLC grew its holdings in Regeneron Pharmaceuticals by 0.9% during the 2nd quarter. Regentatlantic Capital LLC now owns 537 shares of the biopharmaceutical company’s stock valued at $264,000 after buying an additional 5 shares during the last quarter. Capital Planning Advisors LLC grew its holdings in Regeneron Pharmaceuticals by 2.1% during the 2nd quarter. Capital Planning Advisors LLC now owns 582 shares of the biopharmaceutical company’s stock valued at $286,000 after buying an additional 12 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Regeneron Pharmaceuticals by 1.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 712 shares of the biopharmaceutical company’s stock valued at $350,000 after buying an additional 12 shares during the last quarter. Finally, Princeton Capital Management Inc. lifted its stake in shares of Regeneron Pharmaceuticals by 0.6% during the 2nd quarter. Princeton Capital Management Inc. now owns 2,511 shares of the biopharmaceutical company’s stock worth $1,233,000 after purchasing an additional 15 shares during the period. Institutional investors and hedge funds own 67.42% of the company’s stock.

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Several analysts have recently weighed in on REGN shares. Zacks Investment Research downgraded Regeneron Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Robert W. Baird downgraded Regeneron Pharmaceuticals from a “neutral” rating to an “underperform” rating and set a $408.00 target price for the company. in a research note on Tuesday, August 1st. Jefferies Group LLC reiterated a “hold” rating and issued a $500.00 price target (up from $471.00) on shares of Regeneron Pharmaceuticals in a research note on Friday, October 6th. Piper Jaffray Companies reissued an “overweight” rating and issued a $540.00 target price on shares of Regeneron Pharmaceuticals in a report on Friday, September 29th. Finally, Credit Suisse Group cut shares of Regeneron Pharmaceuticals to a “hold” rating and set a $485.00 target price on the stock. in a report on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $489.73.

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) traded down 1.64% during midday trading on Friday, reaching $409.22. 1,111,591 shares of the company traded hands. The company has a market capitalization of $43.39 billion, a price-to-earnings ratio of 41.05 and a beta of 1.62. The stock’s 50 day moving average is $446.40 and its 200 day moving average is $458.33. Regeneron Pharmaceuticals, Inc. has a one year low of $325.35 and a one year high of $543.55.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported $4.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $1.50. The firm had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.36 billion. Regeneron Pharmaceuticals had a net margin of 22.05% and a return on equity of 25.58%. The business’s revenue was up 21.2% on a year-over-year basis. During the same quarter last year, the business earned $2.82 earnings per share. On average, equities analysts anticipate that Regeneron Pharmaceuticals, Inc. will post $14.94 earnings per share for the current year.

In related news, Director Charles A. Baker sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $450.00, for a total value of $900,000.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $4,950,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael S. Brown sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $475.00, for a total value of $712,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,468 shares of company stock valued at $42,312,448. 10.80% of the stock is owned by insiders.

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company commercializes medicines for eye diseases, high low-density lipoprotein (LDL) cholesterol, and an inflammatory condition and have product candidates in development in other areas, including rheumatoid arthritis, asthma, atopic dermatitis, pain, cancer, and infectious diseases.

Institutional Ownership by Quarter for Regeneron Pharmaceuticals (NASDAQ:REGN)

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