Sound Shore Management Acquires $64.68M Stake in Regeneron Amid Strong Performance

Sound Shore Management Inc CT has acquired 115,028 shares of Regeneron Pharmaceuticals, Inc. (REGN), valued at approximately $64.68 million. This significant institutional investment represents 0.11% of Regeneron's total shares. The acquisition follows Regeneron's robust quarterly performance, which saw the company surpass both EPS and revenue expectations. Furthermore, Regeneron recently announced an increase in its dividend, signaling strong financial health. Analysts maintain a "Moderate Buy" consensus rating for REGN, with a target price of $793.81, reflecting confidence in the pharmaceutical giant's future prospects. This move by Sound Shore Management underscores a bullish outlook for Regeneron's stock.