Regeneron Pharmaceuticals, Inc. (REGN) Cut to Hold at Zacks Investment Research
Zacks Investment Research lowered shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday.
According to Zacks, “Regeneron’s key growth driver, Eylea, continues to drive revenues on market share gains and the company is expanding the drug's label for additional indications. The FDA’s approval of Dupixent for atopic dermatitis was a major boost to the company’s portfolio and the company is working to expand its label. The drug was recently approved in Europe and we expect sales to get a boost from geographic expansion. Further, the approval of Kevzara (sarilumab) for the treatment of moderately-to-severely active rheumatoid arthritis both in the United States and Europe has boosted the company’s portfolio. Shares have outperformed the industry so far in 2017. We expect the new drug approvals and label expansion of Eylea will continue to boost Regeneron’s performance. However, sales of Praluent have failed to impress.”
REGN has been the topic of several other reports. Morgan Stanley reissued an equal weight rating and set a $450.00 price target on shares of Regeneron Pharmaceuticals in a research note on Wednesday, August 23rd. Canaccord Genuity set a $522.00 price target on shares of Regeneron Pharmaceuticals and gave the company a buy rating in a research note on Monday, August 14th. Oppenheimer Holdings, Inc. reissued a hold rating on shares of Regeneron Pharmaceuticals in a research note on Wednesday, September 27th. Leerink Swann reissued an outperform rating and set a $580.00 price target (up from $573.00) on shares of Regeneron Pharmaceuticals in a research note on Wednesday, August 9th. Finally, Citigroup Inc. increased their price target on shares of Regeneron Pharmaceuticals from $555.00 to $575.00 and gave the company a buy rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Regeneron Pharmaceuticals presently has a consensus rating of Hold and a consensus target price of $489.92.
Regeneron Pharmaceuticals (REGN) traded up 1.41% during midday trading on Wednesday, reaching $469.95. The company’s stock had a trading volume of 986,046 shares. The stock has a market capitalization of $49.83 billion, a price-to-earnings ratio of 47.15 and a beta of 1.62. Regeneron Pharmaceuticals has a 52-week low of $325.35 and a 52-week high of $543.55. The firm has a 50-day moving average price of $460.32 and a 200 day moving average price of $451.90.
Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported $4.17 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.67 by $1.50. Regeneron Pharmaceuticals had a net margin of 22.05% and a return on equity of 25.58%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period in the prior year, the firm earned $2.82 earnings per share. Regeneron Pharmaceuticals’s revenue was up 21.2% compared to the same quarter last year. Equities research analysts predict that Regeneron Pharmaceuticals will post $14.93 EPS for the current fiscal year.
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In related news, CFO Robert E. Landry sold 189 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $501.06, for a total transaction of $94,700.34. Following the sale, the chief financial officer now directly owns 10,099 shares in the company, valued at $5,060,204.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael S. Brown sold 1,500 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $475.00, for a total transaction of $712,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 89,468 shares of company stock worth $42,312,448. 10.80% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Alpha Windward LLC increased its stake in Regeneron Pharmaceuticals by 0.3% in the 2nd quarter. Alpha Windward LLC now owns 384 shares of the biopharmaceutical company’s stock valued at $189,000 after buying an additional 1 shares during the last quarter. Cleararc Capital Inc. increased its stake in Regeneron Pharmaceuticals by 0.3% in the 1st quarter. Cleararc Capital Inc. now owns 1,850 shares of the biopharmaceutical company’s stock valued at $717,000 after buying an additional 5 shares during the last quarter. Regentatlantic Capital LLC increased its stake in Regeneron Pharmaceuticals by 0.9% in the 2nd quarter. Regentatlantic Capital LLC now owns 537 shares of the biopharmaceutical company’s stock valued at $264,000 after buying an additional 5 shares during the last quarter. Capital Planning Advisors LLC increased its stake in Regeneron Pharmaceuticals by 2.1% in the 2nd quarter. Capital Planning Advisors LLC now owns 582 shares of the biopharmaceutical company’s stock valued at $286,000 after buying an additional 12 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its stake in Regeneron Pharmaceuticals by 1.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 712 shares of the biopharmaceutical company’s stock valued at $350,000 after buying an additional 12 shares during the last quarter. Hedge funds and other institutional investors own 67.95% of the company’s stock.
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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