Balboa Wealth Partners Trims Stock Position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Balboa Wealth Partners trimmed its holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 7.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,499 shares of the biopharmaceutical company’s stock after selling 119 shares during the quarter. Balboa Wealth Partners’ holdings in Regeneron Pharmaceuticals were worth $1,576,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sachetta LLC raised its holdings in Regeneron Pharmaceuticals by 71.4% in the 2nd quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 10 shares during the period. 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 purchasing 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. Crewe Advisors LLC acquired a new position in shares of Regeneron Pharmaceuticals during the 1st quarter worth about $28,000. Finally, Lynx Investment Advisory acquired a new stake in shares of Regeneron Pharmaceuticals during the 2nd quarter worth approximately $33,000. 83.31% of the stock is currently owned by institutional investors.

Regeneron Pharmaceuticals Stock Down 2.7 %

NASDAQ:REGN opened at $782.51 on Friday. The stock has a market capitalization of $85.99 billion, a P/E ratio of 19.36, a P/E/G ratio of 3.04 and a beta of 0.15. 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’s 50-day simple moving average is $1,000.06 and its 200-day simple moving average is $1,035.67. Regeneron Pharmaceuticals, Inc. has a fifty-two week low of $780.95 and a fifty-two week high of $1,211.20.

Wall Street Analyst Weigh In

REGN has been the subject of several recent research reports. Guggenheim raised their price target on shares of Regeneron Pharmaceuticals from $1,180.00 to $1,300.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Oppenheimer decreased their price objective on shares of Regeneron Pharmaceuticals from $1,150.00 to $1,000.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. JPMorgan Chase & Co. reduced their price objective on shares of Regeneron Pharmaceuticals from $1,200.00 to $1,150.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Wells Fargo & Company cut their price target on 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, StockNews.com lowered Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,097.14.

Insider Transactions at Regeneron Pharmaceuticals

In related news, CFO Christopher R. Fenimore sold 5,680 shares of the business’s stock in a transaction dated 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 approximately $18,447,575.65. The trade was a 27.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate 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.