Fred Alger Management LLC Has $9.27 Million Stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Fred Alger Management LLC reduced its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 20.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,821 shares of the biopharmaceutical company’s stock after selling 2,302 shares during the period. Fred Alger Management LLC’s holdings in Regeneron Pharmaceuticals were worth $9,273,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. lifted its holdings in shares of 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 buying an additional 19 shares in the last quarter. Stephens Consulting LLC bought a new stake in Regeneron Pharmaceuticals in the 2nd quarter valued at about $26,000. Sachetta LLC grew its position in shares of 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. Lynx Investment Advisory bought a new position in shares of Regeneron Pharmaceuticals during the second quarter worth approximately $33,000. Finally, Family Firm Inc. acquired a new stake in shares of Regeneron Pharmaceuticals in the second quarter valued at approximately $33,000. 83.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on REGN. Barclays dropped their price objective on Regeneron Pharmaceuticals from $1,080.00 to $1,065.00 and set an “overweight” rating for the company in a report on Friday, November 1st. Guggenheim increased their price objective on shares of Regeneron Pharmaceuticals from $1,180.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. BMO Capital Markets decreased their target price on shares of 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. Leerink Partnrs downgraded shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Finally, Morgan Stanley reduced their price target on shares of Regeneron Pharmaceuticals from $1,235.00 to $1,184.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Regeneron Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $1,107.29.

Regeneron Pharmaceuticals Stock Performance

Regeneron Pharmaceuticals stock opened at $750.22 on Friday. Regeneron Pharmaceuticals, Inc. has a 1 year low of $735.95 and a 1 year 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 $82.44 billion, a P/E ratio of 18.57, a P/E/G ratio of 2.91 and a beta of 0.15. The business has a 50 day moving average of $905.64 and a 200-day moving average of $1,019.11.

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.