Regeneron Pharmaceuticals, Inc. (REGN) Given Buy Rating at Bank of America Corporation
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)‘s stock had its “buy” rating restated by investment analysts at Bank of America Corporation in a research report issued to clients and investors on Friday. They presently have a $593.00 price objective on the biopharmaceutical company’s stock, up from their previous price objective of $589.00. Bank of America Corporation’s target price suggests a potential upside of 13.79% from the company’s previous close.
REGN has been the subject of several other reports. BMO Capital Markets raised their target price on shares of Regeneron Pharmaceuticals from $412.00 to $421.00 and gave the stock a “hold” rating in a research report on Monday, May 15th. Vetr lowered shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $408.86 price target for the company. in a research note on Monday, April 24th. UBS AG set a $489.00 price target on shares of Regeneron Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, May 5th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Regeneron Pharmaceuticals in a research note on Wednesday, June 14th. Finally, Canaccord Genuity set a $484.00 price objective on shares of Regeneron Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, June 20th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company. Regeneron Pharmaceuticals has a consensus rating of “Hold” and a consensus target price of $463.03.
Shares of Regeneron Pharmaceuticals (REGN) traded down 0.82% during trading on Friday, hitting $516.86. 258,031 shares of the stock were exchanged. The stock’s 50 day moving average price is $493.24 and its 200 day moving average price is $413.36. The firm has a market capitalization of $54.57 billion, a price-to-earnings ratio of 62.57 and a beta of 1.67. Regeneron Pharmaceuticals has a 52 week low of $325.35 and a 52 week high of $543.55.
Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings data on Thursday, May 4th. The biopharmaceutical company reported $2.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.50 by $0.42. The company had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Regeneron Pharmaceuticals had a net margin of 19.34% and a return on equity of 22.99%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.57 EPS. On average, equities analysts predict that Regeneron Pharmaceuticals will post $12.77 earnings per share for the current year.
In other Regeneron Pharmaceuticals news, SVP Michael S. Aberman sold 2,269 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $532.42, for a total transaction of $1,208,060.98. Following the completion of the sale, the senior vice president now directly owns 9,193 shares of the company’s stock, valued at $4,894,537.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Sanofi purchased 136,050 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were purchased at an average cost of $478.17 per share, with a total value of $65,055,028.50. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 59,396 shares of company stock valued at $28,484,734. 10.40% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Korea Investment CORP raised its stake in Regeneron Pharmaceuticals by 223.9% in the first quarter. Korea Investment CORP now owns 298 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 206 shares during the last quarter. FNY Managed Accounts LLC purchased a new stake in Regeneron Pharmaceuticals during the first quarter valued at approximately $140,000. Alpha Windward LLC raised its stake in Regeneron Pharmaceuticals by 4.4% in the first quarter. Alpha Windward LLC now owns 383 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 16 shares during the last quarter. Wendell David Associates Inc. purchased a new stake in Regeneron Pharmaceuticals during the second quarter valued at approximately $204,000. Finally, Welch & Forbes LLC purchased a new stake in Regeneron Pharmaceuticals during the first quarter valued at approximately $211,000. 66.87% of the stock is owned by institutional investors and hedge funds.
Regeneron Pharmaceuticals Company Profile
Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company commercializes medicines for eye diseases, high low-density lipoprotein (LDL) cholesterol, and an inflammatory condition and have product candidates in development in other areas, including rheumatoid arthritis, asthma, atopic dermatitis, pain, cancer, and infectious diseases.
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