Sun Sep 15 11:52:54 UTC 2024: ## Institutional Investors Bet Big on Regeneron Pharmaceuticals, Fueled by Strong Earnings
**New York, NY** – Regeneron Pharmaceuticals (NASDAQ:REGN) continues to attract attention from major investors, with several institutional players increasing their holdings in the biopharmaceutical giant. LPL Financial LLC, for example, significantly boosted its stake in Regeneron by 16.4% during the second quarter, according to its latest Form 13F filing. The fund now owns 47,242 shares, representing a total value of $49.65 million.
The news comes on the heels of Regeneron’s impressive second-quarter earnings report, which exceeded analysts’ expectations, with earnings per share (EPS) of $11.56 versus an estimated $8.93. The company also reported strong revenue, reaching $3.55 billion, surpassing analysts’ prediction of $3.38 billion. These robust results have likely spurred the heightened interest from investors.
Other institutional investors, such as Vanguard Group Inc. and Capital World Investors, also increased their stakes in Regeneron during the first and fourth quarters, respectively.
Analysts seem to be bullish on Regeneron’s future as well. While some, like Morgan Stanley, have slightly reduced their price targets, others, like Argus and JPMorgan Chase & Co., have increased their targets, with the latter assigning an “overweight” rating to the stock. Overall, the company enjoys a “Moderate Buy” rating with a consensus target price of $1,109.70, according to MarketBeat.
Despite the positive outlook, there’s some insider selling activity to note. CFO Christopher Fenimore sold 5,680 shares on August 28th, and EVP Joseph Larosa sold 1,866 shares on July 11th. However, institutional investors remain confident in Regeneron’s long-term prospects, owning a significant 83.31% of the company’s stock.
Regeneron’s innovative approach to developing new medicines for treating various diseases has made it a frontrunner in the biopharmaceutical sector. With strong financials, a solid track record, and a bullish outlook from analysts and institutional investors, Regeneron seems well-positioned to continue its growth trajectory in the years to come.
First Piper 