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Vanguard Group Inc. Raises Stake in Regeneron Pharmaceuticals, Inc. $REGN
Vanguard Group Inc. increased its stake in Regeneron Pharmaceuticals, Inc. by 0.3% in the fourth quarter, now owning 8.63% of the company’s shares worth approximately $7.0 billion. The biopharmaceutical company recently received FDA approval for Otarmeni, a gene therapy for inherited deafness, and will provide it free to eligible U.S. patients, while also announcing a quarterly dividend increase to $0.94 per share. Analysts generally hold a “Moderate Buy” rating for Regeneron, with several firms raising their price targets due to positive developments like the new gene therapy and strong financial performance.