Regeneron Pharmaceuticals Price Target Increased to $360.00 by Analysts at Piper Jaffray Cos. (REGN)
Research analysts at Piper Jaffray Cos. lifted their price target on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) from $336.00 to $360.00 in a report released on Monday, Stock Ratings Network.com reports. The firm currently has an “overweight” rating on the stock. Piper Jaffray Cos.’s price objective suggests a potential upside of 17.78% from the company’s current price.
The analysts wrote, “On Saturday 9/28, Regeneron presented Phase III data on EYLEA in Diabetic Macular Edema (DME) at the Retina Society Meeting in Los Angeles. The data clearly supports label expansion with blockbuster potential even competing with approved Lucentis and off-label Avastin. We expect supplemental BLA approval in late 2014 with U.S. sales of $56 million in 2H:14, $177 million in 2015 and $993 million by 2020. We look for initial Phase III data from the ODYSSEY-MONO trial of anti-PCSK9 antibody alirocumab near-term. We reiterate our Overweight rating and are increasing our price target to $360 from $336 by applying a 35x multiple to our 2014 non-GAAP EPS of $10.29.”
A number of other firms have also recently commented on REGN. Analysts at Oppenheimer raised their price target on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) from $300.00 to $310.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) in a research note to investors on Thursday. Finally, analysts at BMO Capital Markets reiterated a “buy” rating on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) in a research note to investors on Tuesday, September 24th. They now have a $325.00 price target on the stock, up previously from $294.00. One analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $273.42.
In other Regeneron Pharmaceuticals news, Chairman P Roy Vagelos unloaded 145,356 shares of Regeneron Pharmaceuticals stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $302.86, for a total value of $44,022,518.16. Following the sale, the chairman now directly owns 65,759 shares in the company, valued at approximately $19,915,771. The transaction was disclosed in a filing with the SEC, which is available at this link.
Regeneron Pharmaceuticals (NASDAQ:REGN) traded up 2.65% on Monday, hitting $313.76. The stock had a trading volume of 638,877 shares. Regeneron Pharmaceuticals has a one year low of $136.13 and a one year high of $311.00. The stock’s 50-day moving average is $265.3 and its 200-day moving average is $240.4. The company has a market cap of $30.654 billion and a P/E ratio of 40.41.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.73 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.92 by $0.81. The company had revenue of $458.00 million for the quarter, compared to the consensus estimate of $470.63 million. During the same quarter last year, the company posted $0.90 earnings per share. Regeneron Pharmaceuticals’s revenue was up 50.5% compared to the same quarter last year. Analysts expect that Regeneron Pharmaceuticals will post $3.50 EPS for the current fiscal year.
Regeneron Pharmaceuticals, Inc (NASDAQ:REGN) is an integrated biopharmaceutical company, which discovers, invents, develops, manufactures, and commercializes medicines for the treatment of serious medical conditions.
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