Regeneron Pharmaceuticals’ (REGN) Outperform Rating Reiterated at Royal Bank of Canada

Regeneron Pharmaceuticals (NASDAQ:REGN)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research note issued on Tuesday, Benzinga reports. They currently have a $1,282.00 price objective on the biopharmaceutical company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 12.56% from the stock’s previous close.

A number of other research firms have also recently issued reports on REGN. Morgan Stanley dropped their price target on shares of Regeneron Pharmaceuticals from $1,183.00 to $1,182.00 and set an “overweight” rating on the stock in a research note on Thursday, July 11th. Guggenheim boosted their target price on shares of Regeneron Pharmaceuticals from $1,180.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1,015.00 price target on shares of Regeneron Pharmaceuticals in a research note on Monday. Canaccord Genuity Group reiterated a “buy” rating and set a $1,152.00 price objective on shares of Regeneron Pharmaceuticals in a research note on Thursday, June 27th. Finally, Barclays raised their target price on Regeneron Pharmaceuticals from $1,200.00 to $1,220.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,111.30.

Regeneron Pharmaceuticals Price Performance

Shares of REGN stock traded down $14.17 during mid-day trading on Tuesday, hitting $1,138.91. 43,224 shares of the stock were exchanged, compared to its average volume of 465,025. Regeneron Pharmaceuticals has a 52-week low of $769.19 and a 52-week high of $1,211.20. The company has a quick ratio of 4.62, a current ratio of 5.44 and a debt-to-equity ratio of 0.10. The company has a market cap of $125.49 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 3.97 and a beta of 0.12. The firm has a fifty day moving average of $1,126.24 and a 200 day moving average of $1,027.77.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported $11.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.93 by $2.63. Regeneron Pharmaceuticals had a return on equity of 16.80% and a net margin of 32.04%. The company had revenue of $3.55 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the business posted $8.79 earnings per share. Regeneron Pharmaceuticals’s revenue for the quarter was up 12.3% on a year-over-year basis. Research analysts anticipate that Regeneron Pharmaceuticals will post 37.8 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Christopher R. Fenimore sold 5,680 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the completion of the sale, the chief financial officer now owns 15,305 shares of the company’s stock, valued at approximately $18,447,575.65. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Christopher R. Fenimore sold 5,680 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the transaction, the chief financial officer now owns 15,305 shares of the company’s stock, valued at approximately $18,447,575.65. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bonnie L. Bassler sold 756 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $1,062.00, for a total value of $802,872.00. Following the sale, the director now directly owns 1,382 shares of the company’s stock, valued at $1,467,684. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,026 shares of company stock worth $11,498,705. Insiders own 7.48% of the company’s stock.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

Several large investors have recently made changes to their positions in REGN. Prio Wealth Limited Partnership acquired a new position in Regeneron Pharmaceuticals during the second quarter worth $210,000. Sanctuary Advisors LLC purchased a new stake in shares of Regeneron Pharmaceuticals in the 2nd quarter valued at $47,611,000. Kestra Investment Management LLC acquired a new position in Regeneron Pharmaceuticals during the 2nd quarter worth about $437,000. Souders Financial Advisors purchased a new position in Regeneron Pharmaceuticals during the 2nd quarter valued at about $801,000. Finally, Clearbridge Investments LLC purchased a new position in Regeneron Pharmaceuticals during the 2nd quarter valued at about $1,506,000. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.