Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Downgraded by Robert W. Baird to Underperform
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) was downgraded by research analysts at Robert W. Baird from a “neutral” rating to an “underperform” rating in a report issued on Tuesday. They currently have a $408.00 price objective on the biopharmaceutical company’s stock. Robert W. Baird’s price objective would suggest a potential downside of 13.09% from the company’s previous close.
The analysts wrote, “nothing to scoff at,” Skorney said in his downgrade note. However, investor expectations for a strong performance has “stretched the valuation beyond what is reasonable” based on the initial launch metrics (see Skorney’s track record here).In fact, investor expectation shifted from “high” in late April/May to “extraordinary” today, the analyst added. Meanwhile, buy-side analysts may have also gotten ahead of themselves in predicting Dupixent to outperform Novartis’ blockbuster therapy, Cosentyx.”We believe shares reflect a greater degree of optimism than is warranted,” Skorney emphasized. “We continue to believe Dupixent will be a big drug, as reflected by our reiterated target price of $408.”
Other equities research analysts have also issued reports about the company. UBS AG set a $489.00 price target on Regeneron Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, May 5th. BMO Capital Markets upped their price target on Regeneron Pharmaceuticals from $412.00 to $421.00 and gave the company a “hold” rating in a research report on Monday, May 15th. Piper Jaffray Companies upped their price target on Regeneron Pharmaceuticals from $446.00 to $557.00 and gave the company an “overweight” rating in a research report on Tuesday, June 20th. Cowen and Company restated a “hold” rating and issued a $380.00 price target on shares of Regeneron Pharmaceuticals in a research report on Monday, May 15th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Regeneron Pharmaceuticals in a research report on Thursday, May 25th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $477.91.
Shares of Regeneron Pharmaceuticals (NASDAQ:REGN) traded down 0.09% during trading on Tuesday, hitting $469.68. The stock had a trading volume of 484,690 shares. The firm has a market cap of $49.58 billion, a price-to-earnings ratio of 56.86 and a beta of 1.66. The firm’s 50-day moving average is $499.39 and its 200 day moving average is $422.69. Regeneron Pharmaceuticals has a 52-week low of $325.35 and a 52-week high of $543.55.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported $4.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $1.50. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.36 billion. Regeneron Pharmaceuticals had a return on equity of 25.58% and a net margin of 22.05%. The business’s revenue was up 21.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.82 earnings per share. On average, analysts expect that Regeneron Pharmaceuticals will post $14.83 EPS for the current year.
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In other Regeneron Pharmaceuticals news, major shareholder Sanofi purchased 136,050 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were bought at an average cost of $478.17 per share, for a total transaction of $65,055,028.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael S. Aberman sold 2,269 shares of the firm’s stock in a transaction 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 in the company, valued at $4,894,537.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,396 shares of company stock worth $28,484,734. 10.40% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Reynolds Capital Management boosted its stake in Regeneron Pharmaceuticals by 40.0% in the fourth quarter. Reynolds Capital Management now owns 2,100 shares of the biopharmaceutical company’s stock worth $1,140,000 after buying an additional 600 shares in the last quarter. Terra Nova Asset Management boosted its stake in Regeneron Pharmaceuticals by 9.7% in the third quarter. Terra Nova Asset Management now owns 5,945 shares of the biopharmaceutical company’s stock worth $2,765,000 after buying an additional 524 shares in the last quarter. Henderson Group PLC boosted its stake in Regeneron Pharmaceuticals by 17.1% in the fourth quarter. Henderson Group PLC now owns 28,299 shares of the biopharmaceutical company’s stock worth $15,360,000 after buying an additional 4,129 shares in the last quarter. Jennison Associates boosted its stake in Regeneron Pharmaceuticals by 10.9% in the third quarter. Jennison Associates now owns 1,922,133 shares of the biopharmaceutical company’s stock worth $894,061,000 after buying an additional 189,407 shares in the last quarter. Finally, National Pension Service boosted its stake in Regeneron Pharmaceuticals by 10.8% in the second quarter. National Pension Service now owns 66,518 shares of the biopharmaceutical company’s stock worth $33,920,000 after buying an additional 6,481 shares in the last quarter. Institutional investors own 66.70% 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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