Regeneron Pharmaceuticals, Inc. (REGN) Price Target Cut to $500.00 by Analysts at UBS AG
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) had its price objective reduced by UBS AG from $535.00 to $500.00 in a research report issued to clients and investors on Thursday, www.benzinga.com reports. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. UBS AG’s price target indicates a potential upside of 14.11% from the stock’s previous close.
REGN has been the subject of a number of other research reports. Morgan Stanley restated an “equal weight” rating and issued a $450.00 price objective on shares of Regeneron Pharmaceuticals in a research note on Wednesday, August 23rd. Canaccord Genuity set a $522.00 price objective on shares of Regeneron Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, August 14th. Leerink Swann restated an “outperform” rating and issued a $580.00 price objective (up previously from $573.00) on shares of Regeneron Pharmaceuticals in a research note on Wednesday, August 9th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Regeneron Pharmaceuticals in a report on Wednesday, June 14th. Finally, Citigroup Inc. upped their target price on shares of Regeneron Pharmaceuticals from $555.00 to $575.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $490.03.
Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings data 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. Regeneron Pharmaceuticals had a net margin of 22.05% and a return on equity of 25.58%. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the prior year, the company posted $2.82 EPS. The business’s revenue was up 21.2% on a year-over-year basis.
In other news, major shareholder Sanofi purchased 166,415 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were acquired at an average cost of $480.93 per share, for a total transaction of $80,033,965.95. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman P Roy Vagelos sold 15,191 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $470.15, for a total transaction of $7,142,048.65. Following the completion of the sale, the chairman now owns 329,543 shares in the company, valued at $154,934,641.45. The disclosure for this sale can be found here. Insiders sold a total of 85,968 shares of company stock worth $40,699,948 over the last quarter. 10.40% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Fieldpoint Private Securities LLC acquired a new stake in shares of Regeneron Pharmaceuticals in the 2nd quarter valued at approximately $130,000. Sterling Investment Advisors Ltd. raised its position in shares of Regeneron Pharmaceuticals by 11.2% in the 2nd quarter. Sterling Investment Advisors Ltd. now owns 278 shares of the biopharmaceutical company’s stock valued at $137,000 after acquiring an additional 28 shares during the period. FNY Managed Accounts LLC acquired a new stake in shares of Regeneron Pharmaceuticals in the 1st quarter valued at approximately $140,000. FNY Partners Fund LP raised its position in shares of Regeneron Pharmaceuticals by 200.0% in the 2nd quarter. FNY Partners Fund LP now owns 300 shares of the biopharmaceutical company’s stock valued at $147,000 after acquiring an additional 200 shares during the period. Finally, Alpha Windward LLC raised its position in shares of Regeneron Pharmaceuticals by 0.3% in the 2nd quarter. Alpha Windward LLC now owns 384 shares of the biopharmaceutical company’s stock valued at $189,000 after acquiring an additional 1 shares during the period. Institutional investors and hedge funds own 67.94% of the company’s stock.
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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