Regeneron Pharmaceuticals, Inc. (REGN) Given “Equal Weight” Rating at Barclays PLC
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)‘s stock had its “equal weight” rating restated by stock analysts at Barclays PLC in a research note issued to investors on Saturday. They presently have a $450.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $400.00. Barclays PLC’s target price points to a potential downside of 12.78% from the company’s previous close.
A number of other brokerages have also commented on REGN. BMO Capital Markets restated a “hold” rating and issued a $412.00 price target (up from $408.00) on shares of Regeneron Pharmaceuticals in a report on Tuesday, March 28th. Canaccord Genuity upgraded Regeneron Pharmaceuticals from a “hold” rating to a “buy” rating and boosted their price target for the company from $375.00 to $484.00 in a report on Friday, May 5th. Vetr lowered Regeneron Pharmaceuticals from a “buy” rating to a “hold” rating and set a $408.86 price target on the stock. in a 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 target on the stock in a report on Thursday, April 27th. Finally, Piper Jaffray Companies boosted their price target on Regeneron Pharmaceuticals from $446.00 to $557.00 and gave the company an “overweight” rating in a report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $467.38.
Regeneron Pharmaceuticals (REGN) traded down 1.00% on Friday, reaching $515.92. The company had a trading volume of 617,665 shares. The stock has a market capitalization of $54.47 billion, a price-to-earnings ratio of 62.45 and a beta of 1.67. Regeneron Pharmaceuticals has a 12 month low of $325.35 and a 12 month high of $543.55. The firm has a 50 day moving average price of $493.24 and a 200-day moving average price of $413.36.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its earnings results on Thursday, May 4th. The biopharmaceutical company reported $2.92 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.50 by $0.42. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.30 billion. Regeneron Pharmaceuticals had a return on equity of 22.99% and a net margin of 19.34%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.57 earnings per share. Analysts forecast that Regeneron Pharmaceuticals will post $12.77 earnings per share for the current fiscal year.
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In related news, Director Joseph L. Goldstein sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $482.55, for a total value of $482,550.00. Following the completion of the sale, the director now directly owns 14,000 shares in the company, valued at $6,755,700. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael S. Aberman sold 2,269 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $532.42, for a total value of $1,208,060.98. Following the completion of the sale, the senior vice president now owns 9,193 shares of the company’s stock, valued at $4,894,537.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,396 shares of company stock valued at $28,484,734. 10.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in REGN. Grandfield & Dodd LLC boosted its stake in Regeneron Pharmaceuticals by 1.1% in the first quarter. Grandfield & Dodd LLC now owns 1,497 shares of the biopharmaceutical company’s stock valued at $580,000 after buying an additional 17 shares during the last quarter. Opus Point Partners Management LLC boosted its stake in Regeneron Pharmaceuticals by 2.3% in the fourth quarter. Opus Point Partners Management LLC now owns 7,684 shares of the biopharmaceutical company’s stock valued at $2,821,000 after buying an additional 172 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in Regeneron Pharmaceuticals during the fourth quarter valued at $323,000. Princeton Capital Management Inc. boosted its stake in Regeneron Pharmaceuticals by 6.7% in the first quarter. Princeton Capital Management Inc. now owns 2,496 shares of the biopharmaceutical company’s stock valued at $967,000 after buying an additional 157 shares during the last quarter. Finally, CIBC World Markets Inc. boosted its stake in Regeneron Pharmaceuticals by 2,190.6% in the first quarter. CIBC World Markets Inc. now owns 21,784 shares of the biopharmaceutical company’s stock valued at $8,442,000 after buying an additional 20,833 shares during the last quarter. Hedge funds and other institutional investors own 66.87% of the company’s stock.
About Regeneron Pharmaceuticals
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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