Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Stake Boosted by CIBC Asset Management Inc

CIBC Asset Management Inc raised its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 5.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,352 shares of the biopharmaceutical company’s stock after buying an additional 1,843 shares during the quarter. CIBC Asset Management Inc’s holdings in Regeneron Pharmaceuticals were worth $35,061,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. International Assets Investment Management LLC grew its holdings in shares of Regeneron Pharmaceuticals by 86,013.3% during the third quarter. International Assets Investment Management LLC now owns 880,939 shares of the biopharmaceutical company’s stock valued at $926,078,000 after buying an additional 879,916 shares in the last quarter. Capital International Investors grew its position in Regeneron Pharmaceuticals by 7.3% during the first quarter. Capital International Investors now owns 3,129,010 shares of the biopharmaceutical company’s stock valued at $3,011,640,000 after purchasing an additional 213,038 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Regeneron Pharmaceuticals by 25.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 902,613 shares of the biopharmaceutical company’s stock valued at $868,757,000 after buying an additional 184,561 shares during the period. Swedbank AB purchased a new stake in Regeneron Pharmaceuticals in the 1st quarter worth approximately $129,257,000. Finally, Epoch Investment Partners Inc. acquired a new stake in shares of Regeneron Pharmaceuticals during the 1st quarter valued at $99,667,000. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Christopher R. Fenimore sold 5,680 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the sale, the chief financial officer now directly 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 legal filing with the SEC, which is available at this link. Company insiders own 7.48% of the company’s stock.

Regeneron Pharmaceuticals Stock Down 3.3 %

Shares of NASDAQ REGN opened at $756.81 on Friday. The company has a current ratio of 5.28, a quick ratio of 4.46 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $83.17 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 3.04 and a beta of 0.15. The firm’s 50-day moving average is $992.70 and its 200-day moving average is $1,033.92. Regeneron Pharmaceuticals, Inc. has a 1 year low of $753.69 and a 1 year high of $1,211.20.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Oppenheimer dropped 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 note on Wednesday, November 6th. Wolfe Research initiated coverage on Regeneron Pharmaceuticals in a research note on Friday. They issued an “outperform” rating and a $1,150.00 price objective on the stock. Morgan Stanley cut their price objective on Regeneron Pharmaceuticals from $1,235.00 to $1,184.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Wells Fargo & Company dropped their price objective on shares of Regeneron Pharmaceuticals from $1,200.00 to $1,050.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Finally, Barclays dropped 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 note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Regeneron Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $1,099.55.

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.