ING Groep NV Grows Position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

ING Groep NV boosted its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 330.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,761 shares of the biopharmaceutical company’s stock after purchasing an additional 16,701 shares during the period. ING Groep NV’s holdings in Regeneron Pharmaceuticals were worth $22,876,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Rakuten Securities Inc. boosted its holdings in Regeneron Pharmaceuticals by 380.0% in the third quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 19 shares during the last quarter. Stephens Consulting LLC purchased a new stake in shares of Regeneron Pharmaceuticals during the 2nd quarter worth about $26,000. Sachetta LLC increased its position in Regeneron Pharmaceuticals by 71.4% during the 2nd quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 10 shares in the last quarter. 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 position in Regeneron Pharmaceuticals during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 83.31% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Christopher R. Fenimore sold 5,680 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total transaction of $6,846,274.40. Following the completion of the transaction, the chief financial officer now owns 15,305 shares in the company, valued at approximately $18,447,575.65. This represents a 27.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.48% of the stock is currently owned by corporate insiders.

Regeneron Pharmaceuticals Trading Down 2.7 %

Regeneron Pharmaceuticals stock opened at $782.51 on Friday. Regeneron Pharmaceuticals, Inc. has a 1 year low of $780.95 and a 1 year high of $1,211.20. The firm’s 50-day moving average is $1,000.06 and its 200-day moving average is $1,035.67. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.46 and a current ratio of 5.28. The company has a market cap of $85.99 billion, a P/E ratio of 19.36, a PEG ratio of 3.04 and a beta of 0.15.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on REGN. Leerink Partners reissued a “market perform” rating and issued a $1,077.00 price objective (down previously from $1,175.00) on shares of Regeneron Pharmaceuticals in a research report on Tuesday, September 24th. Citigroup assumed coverage on Regeneron Pharmaceuticals in a research note on Thursday. They set a “neutral” rating and a $895.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on Regeneron Pharmaceuticals from $1,200.00 to $1,150.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. BMO Capital Markets dropped their target price on Regeneron Pharmaceuticals from $1,300.00 to $1,190.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Finally, Guggenheim upped their price target on Regeneron Pharmaceuticals from $1,180.00 to $1,300.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,097.14.

Regeneron Pharmaceuticals Company Profile

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.