Regeneron Pharmaceuticals’ (NASDAQ:REGN) “Market Perform” Rating Reaffirmed at BMO Capital Markets
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)‘s stock had its “market perform” rating reissued by analysts at BMO Capital Markets in a report issued on Friday. They presently have a $484.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $421.00. BMO Capital Markets’ target price would indicate a potential downside of 7.12% from the company’s previous close.
A number of other analysts have also recently commented on REGN. Canaccord Genuity upgraded Regeneron Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price objective for the company from $375.00 to $484.00 in a research report on Friday, May 5th. Vetr cut Regeneron Pharmaceuticals from a “buy” rating to a “hold” rating and set a $408.86 price objective for the company. in a research report on Monday, May 1st. Zacks Investment Research upgraded Regeneron Pharmaceuticals from a “hold” rating to a “buy” rating and set a $416.00 price objective for the company in a research report on Thursday, April 27th. Piper Jaffray Companies boosted their price objective on Regeneron Pharmaceuticals from $446.00 to $557.00 and gave the company an “overweight” rating in a research report on Tuesday, June 20th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $357.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have assigned a buy rating to the stock. Regeneron Pharmaceuticals has an average rating of “Hold” and a consensus target price of $465.46.
Regeneron Pharmaceuticals (NASDAQ:REGN) traded down 0.71% during midday trading on Friday, reaching $517.43. 339,926 shares of the company traded hands. The stock has a market capitalization of $54.63 billion, a P/E ratio of 62.64 and a beta of 1.67. Regeneron Pharmaceuticals has a 1-year low of $325.35 and a 1-year high of $543.55. The firm has a 50-day moving average of $493.24 and a 200-day moving average of $413.36.
Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings results 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. Regeneron Pharmaceuticals had a return on equity of 22.99% and a net margin of 19.34%. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the company posted $2.57 earnings per share. Regeneron Pharmaceuticals’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts predict that Regeneron Pharmaceuticals will post $12.77 earnings per share for the current year.
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In related news, Director Michael S. Brown sold 3,000 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $450.00, for a total transaction of $1,350,000.00. Following the transaction, the director now owns 3,000 shares of the company’s stock, valued at approximately $1,350,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Neil Stahl sold 8,306 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $532.55, for a total value of $4,423,360.30. Following the transaction, the executive vice president now directly owns 43,950 shares in the company, valued at approximately $23,405,572.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,396 shares of company stock worth $28,484,734. 10.40% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of REGN. Korea Investment CORP raised its position 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 position in Regeneron Pharmaceuticals during the first quarter valued at about $140,000. Alpha Windward LLC raised its position 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 position in Regeneron Pharmaceuticals during the second quarter valued at about $204,000. Finally, Welch & Forbes LLC purchased a new position in Regeneron Pharmaceuticals during the first quarter valued at about $211,000. 66.87% of the stock is currently owned by hedge funds and other institutional investors.
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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