Pinnacle Associates Ltd buys $114.1 Million stake in Regeneron Pharmaceuticals Inc (REGN)

Regeneron Pharmaceuticals Inc (REGN) : Pinnacle Associates Ltd scooped up 5,604 additional shares in Regeneron Pharmaceuticals Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 308,817 shares of Regeneron Pharmaceuticals Inc which is valued at $114.1 Million.Regeneron Pharmaceuticals Inc makes up approximately 2.54% of Pinnacle Associates Ltd’s portfolio.

Other Hedge Funds, Including , First Republic Investment Management reduced its stake in REGN by selling 932 shares or 16.41% in the most recent quarter. The Hedge Fund company now holds 4,747 shares of REGN which is valued at $1.8 Million. Regeneron Pharmaceuticals Inc makes up approx 0.02% of First Republic Investment Management’s portfolio. Secor Capital Advisors Lp added REGN to its portfolio by purchasing 3,540 company shares during the most recent quarter which is valued at $1.3 Million. Regeneron Pharmaceuticals Inc makes up approx 0.25% of Secor Capital Advisors Lp’s portfolio.Schwab Charles Investment Management Inc reduced its stake in REGN by selling 12,747 shares or 5.84% in the most recent quarter. The Hedge Fund company now holds 205,469 shares of REGN which is valued at $76 Million. Regeneron Pharmaceuticals Inc makes up approx 0.10% of Schwab Charles Investment Management Inc’s portfolio.Kames Capital Plc reduced its stake in REGN by selling 308 shares or 8.15% in the most recent quarter. The Hedge Fund company now holds 3,471 shares of REGN which is valued at $1.3 Million. Regeneron Pharmaceuticals Inc makes up approx 0.04% of Kames Capital Plc’s portfolio.

Regeneron Pharmaceuticals Inc closed down -3.21 points or -0.81% at $394.49 with 9,60,065 shares getting traded on Wednesday. Post opening the session at $399.95, the shares hit an intraday low of $392.91 and an intraday high of $400.99 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Regeneron Pharmaceuticals Inc reported $2.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 5, 2016. Analyst had a consensus of $2.55. The company had revenue of $1201.00 million for the quarter, compared to analysts expectations of $1178.39 million. The company’s revenue was up 38.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.88 EPS.

Many Wall Street Analysts have commented on Regeneron Pharmaceuticals Inc. Regeneron Pharmaceuticals Inc was Downgraded by Wells Fargo to ” Market Perform” on Apr 20, 2016. Shares were Reiterated by Sun Trust Rbsn Humphrey on Mar 17, 2016 to “Neutral” and Lowered the Price Target to $ 410 from a previous price target of $450 .Shares were Downgraded by Chardan Capital Markets on Mar 16, 2016 to ” Sell” and Lowered the Price Target to $ 325 from a previous price target of $375 .

Regeneron Pharmaceuticals Inc. is an integrated biopharmaceutical company that discovers invents develops manufactures and commercializes medicines for the treatment of serious medical conditions. The Company commercializes medicines for eye diseases colorectal cancer and a rare inflammatory condition and has product candidates under development in other areas including hypercholesterolemia oncology rheumatoid arthritis (RA) asthma and atopic dermatitis. The Company’s marketed products include EYLEA (aflibercept) injection ZALTRAP (ziv-aflibercept) injection for intravenous infusion and ARCALYST (rilonacept) injection for subcutaneous use. The Company has 17 product candidates in clinical development. Its product candidates consist of two trap-based clinical programs and 15 human monoclonal antibody product candidates. The Company has generated each of the antibodies using its VelocImmune technology.

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