Regeneron Pharmaceuticals Trading Up 6.4% After Insider Buying Activity (REGN)
Shares of Regeneron Pharmaceuticals (NASDAQ:REGN) were up 6.4% during trading on Tuesday following insider buying activity, Stock Ratings Network reports. The stock traded as high as $302.19 and last traded at $300.64, with a volume of 1,137,456 shares. The stock had previously closed at $282.47.
Specifically, major shareholder Sanofi acquired 262,400 shares of the company’s stock on the open market in a transaction dated Monday, June 30th. The stock was purchased at an average price of $281.17 per share, for a total transaction of $73,779,008.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Several analysts have recently commented on the stock. Analysts at Zacks upgraded shares of Regeneron Pharmaceuticals from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 25th. They now have a $334.00 price target on the stock. Separately, analysts at Goldman Sachs reiterated a “buy” rating on shares of Regeneron Pharmaceuticals in a research note on Tuesday, June 24th. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $344.00.
The stock’s 50-day moving average is $298.4 and its 200-day moving average is $299.8. The company has a market cap of $29.947 billion and a price-to-earnings ratio of 80.98.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters 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 prior year, the company posted $1.78 earnings per share. The company’s quarterly revenue was up 42.3% on a year-over-year basis. Analysts expect that Regeneron Pharmaceuticals will post $9.90 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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