Jennison Associates Lowers stake in Regeneron Pharmaceuticals Inc (REGN)

Regeneron Pharmaceuticals Inc (REGN) : Jennison Associates reduced its stake in Regeneron Pharmaceuticals Inc by 1.02% during the most recent quarter end. The investment management company now holds a total of 2,030,925 shares of Regeneron Pharmaceuticals Inc which is valued at $896,389,367 after selling 20,934 shares in Regeneron Pharmaceuticals Inc , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Regeneron Pharmaceuticals Inc makes up approximately 0.94% of Jennison Associates’s portfolio.

Other Hedge Funds, Including , Diam Ltd. boosted its stake in REGN in the latest quarter, The investment management firm added 7,939 additional shares and now holds a total of 48,322 shares of Regeneron Pharmaceuticals Inc which is valued at $21,327,881. Regeneron Pharmaceuticals Inc makes up approx 0.31% of Diam Ltd.’s portfolio. Putnam Fl Investment Management Co added REGN to its portfolio by purchasing 14,862 company shares during the most recent quarter which is valued at $6,559,641. Regeneron Pharmaceuticals Inc makes up approx 0.75% of Putnam Fl Investment Management Co’s portfolio.Seven Bridges Advisors reduced its stake in REGN by selling 561 shares or 30.74% in the most recent quarter. The Hedge Fund company now holds 1,264 shares of REGN which is valued at $524,674. Regeneron Pharmaceuticals Inc makes up approx 0.43% of Seven Bridges Advisors’s portfolio.Cypress Asset Management Inctx reduced its stake in REGN by selling 1,125 shares or 7.99% in the most recent quarter. The Hedge Fund company now holds 12,955 shares of REGN which is valued at $4,983,789. Regeneron Pharmaceuticals Inc makes up approx 0.97% of Cypress Asset Management Inctx’s portfolio.

Regeneron Pharmaceuticals Inc closed down -1.96 points or -0.46% at $421.04 with 8,28,603 shares getting traded on Monday. Post opening the session at $422.43, the shares hit an intraday low of $418.36 and an intraday high of $429.06 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Regeneron Pharmaceuticals Inc reported $2.82 EPS for the quarter, beating the analyst consensus estimate by $ 0.17 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $2.65. The company had revenue of $1213.00 million for the quarter, compared to analysts expectations of $1237.52 million. The company’s revenue was up 21.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.89 EPS.

Many Wall Street Analysts have commented on Regeneron Pharmaceuticals Inc. Shares were Downgraded by Robert W. Baird on Aug 5, 2016 to ” Neutral” and Lowered the Price Target to $ 448 from a previous price target of $505 .Regeneron Pharmaceuticals Inc was Initiated by Bernstein to “Outperform” on Jun 29, 2016.

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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