Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) PT Set at $522.00 by Canaccord Genuity
Canaccord Genuity set a $522.00 price target on Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) in a research note released on Friday. The firm currently has a buy rating on the biopharmaceutical company’s stock.
REGN has been the subject of a number of other research reports. Vetr downgraded shares of Regeneron Pharmaceuticals from a sell rating to a strong sell rating and set a $368.84 price objective for the company. in a research report on Monday, May 15th. Jefferies Group LLC restated a hold rating and set a $357.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Wednesday, April 12th. Zacks Investment Research downgraded shares of Regeneron Pharmaceuticals from a strong-buy rating to a hold rating in a research report on Tuesday, July 4th. Credit Suisse Group downgraded shares of Regeneron Pharmaceuticals to a hold rating and set a $485.00 price objective for the company. in a research report on Friday, July 14th. Finally, BMO Capital Markets restated a market perform rating and set a $421.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and thirteen have issued a buy rating to the company. Regeneron Pharmaceuticals has a consensus rating of Hold and a consensus target price of $470.34.
Shares of Regeneron Pharmaceuticals (NASDAQ REGN) opened at 491.62 on Friday. Regeneron Pharmaceuticals has a 52-week low of $325.35 and a 52-week high of $543.55. The company’s 50-day moving average is $499.72 and its 200 day moving average is $420.88. The firm has a market cap of $51.90 billion, a price-to-earnings ratio of 59.51 and a beta of 1.67.
Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings results on Thursday, May 4th. The biopharmaceutical company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.50 by $0.42. Regeneron Pharmaceuticals had a net margin of 19.34% and a return on equity of 22.99%. The firm had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the prior year, the firm earned $2.57 EPS. Regeneron Pharmaceuticals’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, analysts expect that Regeneron Pharmaceuticals will post $12.80 earnings per share for the current fiscal year.
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In other Regeneron Pharmaceuticals news, Director Joseph L. Goldstein sold 1,000 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $482.55, for a total transaction of $482,550.00. Following the sale, the director now directly owns 14,000 shares of the company’s stock, valued at approximately $6,755,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Sanofi purchased 136,050 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were purchased at an average cost of $478.17 per share, for a total transaction of $65,055,028.50. The disclosure for this purchase can be found here. Insiders have sold a total of 59,396 shares of company stock worth $28,484,734 over the last ninety days. 10.40% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Korea Investment CORP raised its position in shares of Regeneron Pharmaceuticals by 223.9% in the first quarter. Korea Investment CORP now owns 298 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 206 shares during the last quarter. FNY Managed Accounts LLC bought a new position in shares of Regeneron Pharmaceuticals during the first quarter valued at $140,000. Alpha Windward LLC raised its position in shares of Regeneron Pharmaceuticals by 4.4% in the first quarter. Alpha Windward LLC now owns 383 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 16 shares during the last quarter. IFP Advisors Inc raised its position in shares of Regeneron Pharmaceuticals by 33.2% in the second quarter. IFP Advisors Inc now owns 385 shares of the biopharmaceutical company’s stock valued at $189,000 after buying an additional 96 shares during the last quarter. Finally, Wendell David Associates Inc. bought a new position in shares of Regeneron Pharmaceuticals during the second quarter valued at $204,000. Institutional investors and hedge funds own 66.79% 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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