Regeneron Pharmaceuticals’ (REGN) Buy Rating Reaffirmed at Citigroup Inc.
Regeneron Pharmaceuticals Inc (NASDAQ:REGN)‘s stock had its “buy” rating reissued by stock analysts at Citigroup Inc. in a research note issued to investors on Thursday. They currently have a $575.00 price target on the biopharmaceutical company’s stock. Citigroup Inc.’s target price indicates a potential upside of 21.95% from the stock’s previous close.
Several other research analysts have also issued reports on the company. Raymond James Financial, Inc. restated an “outperform” rating and issued a $566.00 price target on shares of Regeneron Pharmaceuticals in a research report on Wednesday. BidaskClub upgraded Regeneron Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Morgan Stanley restated an “equal weight” rating and issued a $450.00 price target on shares of Regeneron Pharmaceuticals in a research report on Wednesday, August 23rd. Evercore ISI began coverage on Regeneron Pharmaceuticals in a research report on Wednesday, August 16th. They issued an “outperform” rating and a $605.00 price target on the stock. Finally, J P Morgan Chase & Co restated a “hold” rating on shares of Regeneron Pharmaceuticals in a research report on Tuesday, August 15th. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Regeneron Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $496.35.
Shares of Regeneron Pharmaceuticals (REGN) traded down 0.09% during midday trading on Thursday, hitting $471.49. The stock had a trading volume of 761,263 shares. The stock has a market capitalization of $49.99 billion, a price-to-earnings ratio of 47.30 and a beta of 1.65. Regeneron Pharmaceuticals has a 52 week low of $325.35 and a 52 week high of $543.55. The stock has a 50 day moving average price of $483.45 and a 200-day moving average price of $442.76.
Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported $4.17 EPS for the quarter, beating the Zacks’ consensus estimate of $2.67 by $1.50. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.36 billion. Regeneron Pharmaceuticals had a return on equity of 29.95% and a net margin of 26.38%. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same period last year, the company earned $2.82 EPS. Equities research analysts anticipate that Regeneron Pharmaceuticals will post $14.90 earnings per share for the current year.
In related news, CFO Robert E. Landry sold 189 shares of Regeneron Pharmaceuticals stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $501.06, for a total value of $94,700.34. Following the sale, the chief financial officer now owns 10,099 shares of the company’s stock, valued at $5,060,204.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Sanofi bought 166,415 shares of the stock in a transaction that occurred on Thursday, August 24th. The stock was bought at an average cost of $480.93 per share, for a total transaction of $80,033,965.95. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 129,257 shares of company stock worth $61,745,394. 10.40% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in REGN. BlackRock Inc. increased its position in shares of Regeneron Pharmaceuticals by 3,331.5% in the first quarter. BlackRock Inc. now owns 6,146,861 shares of the biopharmaceutical company’s stock valued at $2,381,971,000 after acquiring an additional 5,967,733 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of Regeneron Pharmaceuticals by 15,495.4% in the second quarter. Janus Henderson Group PLC now owns 1,562,970 shares of the biopharmaceutical company’s stock valued at $767,637,000 after acquiring an additional 1,552,948 shares during the last quarter. Jennison Associates LLC increased its position in shares of Regeneron Pharmaceuticals by 74.1% in the second quarter. Jennison Associates LLC now owns 1,292,863 shares of the biopharmaceutical company’s stock valued at $634,977,000 after acquiring an additional 550,247 shares during the last quarter. Janus Capital Management LLC increased its position in shares of Regeneron Pharmaceuticals by 58.5% in the first quarter. Janus Capital Management LLC now owns 1,317,162 shares of the biopharmaceutical company’s stock valued at $510,406,000 after acquiring an additional 486,119 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Regeneron Pharmaceuticals by 7.9% in the first quarter. Wellington Management Group LLP now owns 6,135,559 shares of the biopharmaceutical company’s stock valued at $2,377,590,000 after acquiring an additional 446,850 shares during the last quarter. 67.96% of the stock is currently owned by institutional investors and hedge funds.
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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