Morgan Stanley Reaffirms Equal Weight Rating for Regeneron Pharmaceuticals (REGN)
Regeneron Pharmaceuticals (NASDAQ:REGN)‘s stock had its “equal weight” rating reissued by equities researchers at Morgan Stanley in a research report issued on Tuesday. They currently have a $310.00 target price on the stock. Morgan Stanley’s price objective indicates a potential downside of 11.54% from the stock’s previous close.
The analysts wrote, “We believe positive data is already priced into REGN and expect minimal impact. While there could be some investor enthusiasm around the CV data, we do not believe alirocumab could differentiate itself from evolocumab on such a small study and further believe any positive CV data would be viewed as a class effect. Our ~$2B in 2020E WW alirocumab sales already reflects positive LDL lowering data, though we note positive outcomes data could double our ests. We look forward to any additional details on Regeneron and Sanofi’s 8:30 AM EST Tuesday conference call.”
Shares of Regeneron Pharmaceuticals (NASDAQ:REGN) traded up 4.69% on Tuesday, hitting $366.90. The stock had a trading volume of 490,403 shares. Regeneron Pharmaceuticals has a 52-week low of $245.99 and a 52-week high of $354.79. The stock’s 50-day moving average is $328.2 and its 200-day moving average is $312.7. The company has a market cap of $36.833 billion and a P/E ratio of 99.73.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $2.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.30 by $0.17. The company had revenue of $666.00 million for the quarter, compared to the consensus estimate of $647.99 million. During the same quarter in the prior year, the company posted $1.73 earnings per share. The company’s quarterly revenue was up 45.4% on a year-over-year basis. Analysts expect that Regeneron Pharmaceuticals will post $10.15 EPS for the current fiscal year.
In other Regeneron Pharmaceuticals news, Director Joseph L. Goldstein unloaded 2,000 shares of the stock on the open market in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $350.31, for a total transaction of $700,620.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
REGN has been the subject of a number of other recent research reports. Analysts at Credit Suisse raised their price target on shares of Regeneron Pharmaceuticals from $340.00 to $400.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Leerink Swann raised their price target on shares of Regeneron Pharmaceuticals from $389.00 to $436.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Finally, analysts at Zacks downgraded shares of Regeneron Pharmaceuticals from an “outperform” rating to an “underperform” rating in a research note on Tuesday, August 26th. They now have a $316.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $352.11.
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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