Regeneron Pharmaceuticals (NASDAQ:REGN) Rating Increased to Buy at Benchmark

Regeneron Pharmaceuticals (NASDAQ:REGN) was upgraded by investment analysts at Benchmark from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $185.00 target price on the biopharmaceutical company’s stock. Benchmark’s price objective indicates a potential downside of 71.53% from the company’s current price.

A number of other research firms have also recently commented on REGN. Citigroup cut Regeneron Pharmaceuticals from a “buy” rating to a “neutral” rating and cut their price objective for the company from $900.00 to $700.00 in a research report on Monday, May 18th. Truist Financial decreased their target price on Regeneron Pharmaceuticals from $778.00 to $769.00 and set a “buy” rating on the stock in a research report on Tuesday. Leerink Partners reissued a “market perform” rating and issued a $641.00 price target (down from $792.00) on shares of Regeneron Pharmaceuticals in a research note on Monday, May 18th. Canaccord Genuity Group cut their price target on shares of Regeneron Pharmaceuticals from $1,057.00 to $875.00 and set a “buy” rating for the company in a report on Tuesday, May 19th. Finally, Royal Bank Of Canada reduced their price objective on shares of Regeneron Pharmaceuticals from $762.00 to $707.00 and set a “sector perform” rating for the company in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $790.92.

Regeneron Pharmaceuticals Trading Down 0.7%

REGN stock opened at $649.81 on Tuesday. Regeneron Pharmaceuticals has a 52-week low of $532.60 and a 52-week high of $821.11. The company has a quick ratio of 2.96, a current ratio of 3.57 and a debt-to-equity ratio of 0.06. The firm has a market cap of $68.70 billion, a P/E ratio of 15.83, a PEG ratio of 1.44 and a beta of 0.24. The company’s 50-day simple moving average is $652.48 and its 200-day simple moving average is $725.31.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share for the quarter, beating the consensus estimate of $8.91 by $0.56. The firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.48 billion. Regeneron Pharmaceuticals had a return on equity of 13.16% and a net margin of 29.65%.Regeneron Pharmaceuticals’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $8.22 EPS. As a group, equities analysts forecast that Regeneron Pharmaceuticals will post 37.44 EPS for the current fiscal year.

Insider Activity

In other news, Director Arthur F. Ryan sold 100 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $705.24, for a total transaction of $70,524.00. Following the completion of the sale, the director owned 17,503 shares of the company’s stock, valued at $12,343,815.72. This represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC grew its position in shares of Regeneron Pharmaceuticals by 261.8% in the fourth quarter. Brighton Jones LLC now owns 948 shares of the biopharmaceutical company’s stock valued at $675,000 after purchasing an additional 686 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Regeneron Pharmaceuticals during the first quarter worth approximately $226,000. Arrowstreet Capital Limited Partnership purchased a new position in Regeneron Pharmaceuticals during the second quarter worth approximately $3,183,000. Gabelli Funds LLC boosted its stake in Regeneron Pharmaceuticals by 3.0% during the second quarter. Gabelli Funds LLC now owns 1,863 shares of the biopharmaceutical company’s stock worth $978,000 after buying an additional 55 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Regeneron Pharmaceuticals by 18.8% during the second quarter. Sei Investments Co. now owns 32,341 shares of the biopharmaceutical company’s stock worth $16,985,000 after buying an additional 5,120 shares during the last quarter. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc (NASDAQ: REGN) is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.