Kentucky Retirement Systems Sells 600 Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Kentucky Retirement Systems cut its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,393 shares of the biopharmaceutical company’s stock after selling 600 shares during the period. Kentucky Retirement Systems’ holdings in Regeneron Pharmaceuticals were worth $7,772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of REGN. Rakuten Securities Inc. lifted its stake in shares of Regeneron Pharmaceuticals by 380.0% during the 3rd quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 19 shares during the last quarter. Stephens Consulting LLC bought a new position in shares of Regeneron Pharmaceuticals in the second quarter worth about $26,000. Sachetta LLC lifted its holdings in Regeneron Pharmaceuticals by 71.4% during the 2nd quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 10 shares in the last quarter. Crewe Advisors LLC purchased a new stake in Regeneron Pharmaceuticals in the 1st quarter valued at about $28,000. Finally, Lynx Investment Advisory bought a new position in Regeneron Pharmaceuticals in the 2nd quarter worth about $33,000. 83.31% of the stock is owned by institutional investors.

Analysts Set New Price Targets

REGN has been the topic of several research reports. Wolfe Research began coverage on Regeneron Pharmaceuticals in a report on Friday. They set an “outperform” rating and a $1,150.00 price objective on the stock. BMO Capital Markets lowered their price objective on shares of Regeneron Pharmaceuticals from $1,300.00 to $1,190.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Piper Sandler cut their target price on shares of Regeneron Pharmaceuticals from $1,242.00 to $1,195.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Guggenheim lifted their price objective on shares of Regeneron Pharmaceuticals from $1,180.00 to $1,300.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Leerink Partners restated a “market perform” rating and set a $1,077.00 target price (down previously from $1,175.00) on shares of Regeneron Pharmaceuticals in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,099.55.

Insider Activity

In other news, CFO Christopher R. Fenimore sold 5,680 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was 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 owns 15,305 shares in the company, valued at $18,447,575.65. This represents a 27.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.48% of the company’s stock.

Regeneron Pharmaceuticals Price Performance

Shares of NASDAQ:REGN opened at $756.81 on Friday. Regeneron Pharmaceuticals, Inc. has a twelve month low of $753.69 and a twelve month high of $1,211.20. 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 company has a market cap 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 company’s 50 day moving average is $985.21 and its 200 day moving average is $1,032.97.

Regeneron Pharmaceuticals 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.