Regeneron (NASDAQ:REGN) Pharmaceuticals, Inc. (NASDAQ:REGN) has reported a series of transactions by CEO Leonard S. Schleifer, who sold shares totaling over $25 million. The sales were executed on June 11 and 12, 2024, and were disclosed in a recent SEC filing.
The transactions involved a total of 25,213 shares of Regeneron common stock, with sales on June 11 comprising 7,321 shares at an average price of $1,015.28 and 1,743 shares at an average price of $1,016.04. On June 12, Schleifer sold 14,879 shares at an average price of $1,015.30 and 270 shares at an average price of $1,016.62. Additionally, a smaller transaction of 1,000 shares was made at an average price of $1,025.27.
Following these transactions, Schleifer still holds a significant number of shares directly and indirectly through trusts. The total value of the shares sold by Schleifer was $25,610,228, with prices ranging from $1,015.28 to $1,025.27.
These sales were conducted under a plan intended to comply with Rule 10b5-1(c), which allows insiders to set up a predetermined plan to sell stocks at a time when they are not in possession of material, non-public information.
Investors often monitor insider transactions as they provide insights into executives' perspectives on the company's stock value and future performance. However, it is also common for executives to sell shares for personal financial planning purposes, unrelated to their outlook on the company.
Regeneron Pharmaceuticals is a leading biotechnology company that discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions. The company is incorporated in New York and has its headquarters in Tarrytown.
In other recent news, Regeneron Pharmaceuticals and its partner Sanofi (NASDAQ:SNY) have received FDA approval for Kevzara, a treatment for children with active polyarticular juvenile idiopathic arthritis (pJIA) weighing at least 63 kilograms. This approval is based on comprehensive studies and data derived from adult rheumatoid arthritis research and a specific pediatric study on pJIA. The safety profile for children with pJIA was found to be consistent with that observed in adults.
Regeneron Pharmaceuticals has also seen its target raised to $1,200 by RBC Capital following an analysis of phase III studies for Dupixent, a treatment for conditions such as asthma and atopic dermatitis. BMO Capital maintains an outperform rating on Regeneron, predicting Dupixent to generate $2.9 billion in sales for the treatment of COPD. Meanwhile, Piper Sandler has adjusted its fourth quarter 2024 earnings estimate for Regeneron's Eylea franchise downward due to potential short-term challenges.
Evercore ISI initiated coverage on Regeneron, assigning an Outperform rating to the stock, highlighting the potential growth of Dupixent and sustained performance of Eylea. The FDA has also granted Priority Review for the supplemental Biologics License Application (sBLA) for Dupixent as an add-on maintenance treatment for adolescents aged 12 to 17 with inadequately controlled chronic rhinosinusitis with nasal polyposis (CRSwNP). These recent developments underline Regeneron's commitment to addressing the needs of patients facing chronic conditions.
InvestingPro Insights
Regeneron Pharmaceuticals has been a prominent player in the biotechnology industry, and its stock has been reflecting a strong performance. According to InvestingPro data, the company boasts a robust market capitalization of $111.08 billion and has been trading near its 52-week high, with the price percentage of the 52-week high at 99.7%. This indicates investor confidence and a positive market sentiment towards Regeneron, aligning with the company's significant share price total return of 33.92% over the past year.
An important aspect to consider is the company's financial health, which is solid given that its liquid assets exceed short-term obligations, and cash flows can sufficiently cover interest payments. With a steady revenue growth of 5.9% over the last twelve months as of Q1 2024, Regeneron maintains a healthy financial position. Additionally, the company operates with a moderate level of debt, which is a reassuring sign for investors concerned about financial stability.
For investors seeking deeper insights, there are additional InvestingPro Tips available that could further inform investment decisions. Notably, management has been aggressively buying back shares, which is often viewed as a sign of confidence in the company's future prospects and intrinsic value. On the other hand, it's worth noting that 15 analysts have revised their earnings downwards for the upcoming period, which could suggest potential headwinds or adjustments in market expectations.
For those interested in exploring these facets further, InvestingPro offers a wealth of additional tips, providing a total of 14 tips for Regeneron, which can be accessed at: https://www.investing.com/pro/REGN. To enhance your investing strategy with these insights, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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