Regeneron Pharmaceuticals (NASDAQ:REGN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.
According to Zacks, “Regeneron’s Eylea continues to perform well. Dupixent launch in the United States for moderate-to-severe atopic dermatitis is progressing well. Moreover, the company is also looking to expand Dupixent’s label in uncontrolled asthma. The approval of new drugs like Kevzara and Dupixent provides a significant boost. However, sales of Praluent have failed to impress. With Eylea accounting for the majority of revenues at Regeneron, Regeneron relies heavily on the drug for growth. In the United States., the company is witnessing increased competitor discounts and rebates. Sub-par performance of the product will hurt the stock as Eylea is Regeneron’s key growth driver. Moreover, Eylea combination studies with nesvacumab disappointed in phase II and hence the study will not be advanced into phase III. Shares have underperformed the industry in the last twelve months. Estimates have increased ahead of Q4 results.”
Several other analysts have also recently commented on the stock. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Regeneron Pharmaceuticals in a research note on Tuesday, October 31st. Evercore ISI decreased their target price on shares of Regeneron Pharmaceuticals from $605.00 to $445.00 and set an “outperform” rating on the stock in a research report on Thursday, November 16th. Barclays cut shares of Regeneron Pharmaceuticals from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $450.00 to $395.00 in a research report on Friday, October 20th. Guggenheim restated a “buy” rating and set a $540.00 target price on shares of Regeneron Pharmaceuticals in a research report on Monday, October 23rd. Finally, BMO Capital Markets decreased their target price on shares of Regeneron Pharmaceuticals from $491.00 to $479.00 and set a “market perform” rating on the stock in a research report on Thursday, November 9th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $468.15.
Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings results on Wednesday, November 8th. The biopharmaceutical company reported $3.99 EPS for the quarter, topping the consensus estimate of $3.83 by $0.16. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. Regeneron Pharmaceuticals had a net margin of 23.17% and a return on equity of 25.73%. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.13 EPS. analysts anticipate that Regeneron Pharmaceuticals will post 13.55 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in REGN. Ark Investment Management LLC raised its holdings in shares of Regeneron Pharmaceuticals by 78.8% in the second quarter. Ark Investment Management LLC now owns 1,234 shares of the biopharmaceutical company’s stock worth $606,000 after buying an additional 544 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in Regeneron Pharmaceuticals during the 2nd quarter valued at about $206,000. People s United Financial Inc. grew its stake in Regeneron Pharmaceuticals by 656.7% during the 2nd quarter. People s United Financial Inc. now owns 454 shares of the biopharmaceutical company’s stock valued at $223,000 after acquiring an additional 394 shares in the last quarter. AHL Partners LLP purchased a new position in Regeneron Pharmaceuticals during the 2nd quarter valued at about $1,544,000. Finally, Macquarie Group Ltd. grew its stake in Regeneron Pharmaceuticals by 1.6% during the 2nd quarter. Macquarie Group Ltd. now owns 31,608 shares of the biopharmaceutical company’s stock valued at $15,524,000 after acquiring an additional 513 shares in the last quarter. Institutional investors own 65.69% of the company’s stock.
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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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