Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Shares Purchased by Cornerstone Advisors LLC

Cornerstone Advisors LLC boosted its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 13.2% in the third quarter, HoldingsChannel.com reports. The fund owned 6,000 shares of the biopharmaceutical company’s stock after purchasing an additional 700 shares during the period. Cornerstone Advisors LLC’s holdings in Regeneron Pharmaceuticals were worth $6,307,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in REGN. Sachetta LLC increased its stake in shares of Regeneron Pharmaceuticals by 71.4% during the second quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 10 shares during the period. Rakuten Securities Inc. lifted its stake in Regeneron Pharmaceuticals by 380.0% during the third quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 19 shares during the last quarter. Stephens Consulting LLC acquired a new position in Regeneron Pharmaceuticals in the second quarter valued at approximately $26,000. Crewe Advisors LLC purchased a new position in Regeneron Pharmaceuticals in the first quarter valued at approximately $28,000. Finally, Lynx Investment Advisory acquired a new stake in Regeneron Pharmaceuticals during the second quarter worth approximately $33,000. Institutional investors and hedge funds own 83.31% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on REGN. Wells Fargo & Company dropped their target price on shares of Regeneron Pharmaceuticals from $1,200.00 to $1,050.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. Barclays reduced their price objective on shares of Regeneron Pharmaceuticals from $1,080.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Morgan Stanley reduced their price objective on shares of Regeneron Pharmaceuticals from $1,235.00 to $1,184.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Oppenheimer lowered their price target on shares of Regeneron Pharmaceuticals from $1,150.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Regeneron Pharmaceuticals from $1,200.00 to $1,150.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,099.55.

Regeneron Pharmaceuticals Stock Performance

Regeneron Pharmaceuticals stock opened at $743.35 on Thursday. Regeneron Pharmaceuticals, Inc. has a 12-month low of $736.01 and a 12-month high of $1,211.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.28 and a quick ratio of 4.46. The company has a market capitalization of $81.69 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 2.81 and a beta of 0.15. The firm’s fifty day moving average price is $961.76 and its 200 day moving average price is $1,030.14.

Insider Activity

In other Regeneron Pharmaceuticals news, CFO Christopher R. Fenimore sold 5,680 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $1,205.33, for a total transaction of $6,846,274.40. Following the completion of the sale, the chief financial officer now owns 15,305 shares in the company, valued at $18,447,575.65. This trade represents a 27.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.48% of the company’s stock.

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.