Simplify Asset Management Inc. Has $6.69 Million Position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Simplify Asset Management Inc. raised its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 108.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,360 shares of the biopharmaceutical company’s stock after buying an additional 3,310 shares during the quarter. Regeneron Pharmaceuticals accounts for about 0.4% of Simplify Asset Management Inc.’s holdings, making the stock its 17th biggest position. Simplify Asset Management Inc.’s holdings in Regeneron Pharmaceuticals were worth $6,685,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sachetta LLC lifted its stake in Regeneron Pharmaceuticals by 71.4% in the second quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 10 shares during the last quarter. Stephens Consulting LLC acquired a new stake in shares of Regeneron Pharmaceuticals during the 2nd quarter worth approximately $26,000. West Paces Advisors Inc. increased its position in shares of Regeneron Pharmaceuticals by 575.0% during the first quarter. West Paces Advisors Inc. now owns 27 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 23 shares during the period. Crewe Advisors LLC acquired a new position in shares of Regeneron Pharmaceuticals in the first quarter valued at $28,000. Finally, Lynx Investment Advisory bought a new position in Regeneron Pharmaceuticals in the second quarter worth $33,000. Hedge funds and other institutional investors own 83.31% of the company’s stock.

Regeneron Pharmaceuticals Stock Up 1.0 %

Shares of NASDAQ:REGN opened at $1,150.19 on Friday. The company has a 50 day moving average price of $1,130.85 and a two-hundred day moving average price of $1,030.53. The company has a market capitalization of $126.80 billion, a PE ratio of 33.98, a PEG ratio of 3.93 and a beta of 0.12. Regeneron Pharmaceuticals, Inc. has a 52 week low of $769.19 and a 52 week high of $1,211.20. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.62 and a current ratio of 5.44.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported $11.56 EPS for the quarter, topping the consensus estimate of $8.93 by $2.63. The business had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.38 billion. Regeneron Pharmaceuticals had a return on equity of 16.80% and a net margin of 32.04%. The firm’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the business posted $8.79 EPS. Analysts forecast that Regeneron Pharmaceuticals, Inc. will post 37.8 earnings per share for the current year.

Insiders Place Their Bets

In other Regeneron Pharmaceuticals news, Director Arthur F. Ryan sold 100 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $1,059.24, for a total value of $105,924.00. Following the transaction, the director now owns 17,882 shares of the company’s stock, valued at $18,941,329.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Arthur F. Ryan sold 100 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $1,059.24, for a total value of $105,924.00. Following the sale, the director now directly owns 17,882 shares in the company, valued at $18,941,329.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bonnie L. Bassler sold 756 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $1,062.00, for a total value of $802,872.00. Following the transaction, the director now directly owns 1,382 shares of the company’s stock, valued at $1,467,684. The disclosure for this sale can be found here. Insiders sold 10,026 shares of company stock worth $11,498,705 over the last ninety days. 7.48% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on REGN. Piper Sandler lifted their target price on shares of Regeneron Pharmaceuticals from $1,166.00 to $1,242.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Truist Financial reissued a “buy” rating and issued a $1,200.00 target price (up from $1,135.00) on shares of Regeneron Pharmaceuticals in a report on Friday, August 2nd. TD Cowen upped their price target on Regeneron Pharmaceuticals from $1,030.00 to $1,200.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com upgraded Regeneron Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company boosted their target price on shares of Regeneron Pharmaceuticals from $1,125.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,111.30.

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.