Regeneron Pharmaceuticals Upgraded by Zacks to Outperform (REGN)
Regeneron Pharmaceuticals (NASDAQ:REGN) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report released on Wednesday. The firm currently has a $334.00 price target on the stock. Zacks‘s target price suggests a potential upside of 20.10% from the company’s current price.
Zacks’ analyst wrote, “Regeneron’s first quarter 2014 adjusted earnings of $1.58 per share breezed past the Zacks Consensus Estimate of $0.99. Higher revenues boosted earnings in the first quarter of 2014. Total revenue in the quarter soared 42% to $626 million driven by year-over-year growth in the sales of eye drug, Eylea as well as impressive collaboration revenues. Regeneron continues to expect U.S. Eylea sales in the range of $1.7 billion to $1.8 billion in 2014. The company is seeking to expand the label of Eylea into other eye disorders. The company will also be moving to a tax-efficient operating model, the benefits of which should materialize from 2017. We believe that the current price represents an attractive entry point for long-term investors and are upgrading the stock to Outperform.”
Shares of Regeneron Pharmaceuticals (NASDAQ:REGN) traded up 2.52% during mid-day trading on Wednesday, hitting $285.13. 537,848 shares of the company’s stock traded hands. Regeneron Pharmaceuticals has a 1-year low of $218.36 and a 1-year high of $352.49. The stock has a 50-day moving average of $298. and a 200-day moving average of $299.3. The company has a market cap of $28.145 billion and a price-to-earnings ratio of 79.73.
Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by $0.36. The company had revenue of $626.00 million for the quarter, compared to the consensus estimate of $609.04 million. During the same quarter in the previous year, the company posted $1.78 earnings per share. The company’s revenue for the quarter was up 42.3% on a year-over-year basis. On average, analysts predict that Regeneron Pharmaceuticals will post $9.90 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs reiterated a “buy” rating on shares of Regeneron Pharmaceuticals in a research note on Tuesday. Separately, analysts at BMO Capital Markets cut their price target on shares of Regeneron Pharmaceuticals from $331.00 to $283.00 in a research note on Friday, May 9th. Finally, analysts at Cowen and Company raised their price target on shares of Regeneron Pharmaceuticals from $276.00 to $285.00 in a research note on Friday, May 9th. They now have a “market perform” rating on the stock. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $344.00.
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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