Regeneron Pharmaceuticals (NASDAQ:REGN) had its price objective cut by research analysts at Canaccord Genuity from $353.00 to $320.00 in a research note issued to investors on Wednesday, AnalystRatings.com reports. The brokerage presently has a “hold” rating on the biopharmaceutical company’s stock. Canaccord Genuity’s price target suggests a potential upside of 7.25% from the stock’s current price.
A number of other research firms have also issued reports on REGN. BMO Capital Markets dropped their target price on Regeneron Pharmaceuticals to $344.00 and set a “market perform” rating on the stock in a report on Wednesday, August 7th. Argus lowered Regeneron Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Regeneron Pharmaceuticals in a report on Friday, June 21st. Robert W. Baird raised Regeneron Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $410.00 target price on the stock in a report on Wednesday, August 7th. Finally, BidaskClub lowered Regeneron Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 28th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $394.81.
NASDAQ:REGN opened at $298.36 on Wednesday. The firm has a market cap of $31.31 billion, a P/E ratio of 15.07, a PEG ratio of 1.30 and a beta of 1.14. The company has a current ratio of 3.88, a quick ratio of 3.11 and a debt-to-equity ratio of 0.07. The stock’s 50 day simple moving average is $285.92 and its 200-day simple moving average is $316.08. Regeneron Pharmaceuticals has a 12-month low of $271.37 and a 12-month high of $442.00.
Regeneron Pharmaceuticals (NASDAQ:REGN) last released its earnings results on Tuesday, August 6th. The biopharmaceutical company reported $5.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.60 by $0.69. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.80 billion. Regeneron Pharmaceuticals had a return on equity of 25.79% and a net margin of 28.59%. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.45 earnings per share. Research analysts forecast that Regeneron Pharmaceuticals will post 19.22 EPS for the current fiscal year.
In related news, major shareholder Sanofi sold 172,904 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $281.15, for a total transaction of $48,611,959.60. Corporate insiders own 11.84% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. Altfest L J & Co. Inc. purchased a new stake in Regeneron Pharmaceuticals during the second quarter worth $538,000. Bank of Nova Scotia boosted its position in Regeneron Pharmaceuticals by 25.4% during the second quarter. Bank of Nova Scotia now owns 21,832 shares of the biopharmaceutical company’s stock worth $6,833,000 after purchasing an additional 4,420 shares in the last quarter. KBC Group NV boosted its position in Regeneron Pharmaceuticals by 25.6% during the second quarter. KBC Group NV now owns 48,628 shares of the biopharmaceutical company’s stock worth $15,221,000 after purchasing an additional 9,912 shares in the last quarter. Calamos Advisors LLC boosted its position in Regeneron Pharmaceuticals by 2.1% during the second quarter. Calamos Advisors LLC now owns 11,911 shares of the biopharmaceutical company’s stock worth $3,728,000 after purchasing an additional 248 shares in the last quarter. Finally, Gargoyle Investment Advisor L.L.C. boosted its position in Regeneron Pharmaceuticals by 6.8% during the second quarter. Gargoyle Investment Advisor L.L.C. now owns 1,526 shares of the biopharmaceutical company’s stock worth $478,000 after purchasing an additional 97 shares in the last quarter. 66.54% of the stock is currently owned by hedge funds and other institutional investors.
Regeneron Pharmaceuticals Company Profile
Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for treating various medical conditions worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema (DME); myopic choroidal neovascularization; and diabetic retinopathy in patients with DME, as well as macular edema following retinal vein occlusion, including macular edema following central retinal vein occlusion and macular edema following branch retinal vein occlusion.
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