Regeneron Pharmaceuticals, Inc. (REGN) Given “Equal Weight” Rating at Morgan Stanley
Morgan Stanley reaffirmed their equal weight rating on shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) in a research report sent to investors on Friday morning. They currently have a $490.00 target price on the biopharmaceutical company’s stock, up from their previous target price of $450.00.
REGN has been the topic of a number of other research reports. Canaccord Genuity set a $522.00 target price on Regeneron Pharmaceuticals and gave the company a buy rating in a research report on Monday, August 14th. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Regeneron Pharmaceuticals in a research report on Wednesday, September 27th. Leerink Swann reiterated an outperform rating and set a $580.00 target price (up previously from $573.00) on shares of Regeneron Pharmaceuticals in a research report on Wednesday, August 9th. Citigroup Inc. increased their target price on Regeneron Pharmaceuticals from $555.00 to $575.00 and gave the company a buy rating in a research report on Friday, August 4th. Finally, Credit Suisse Group lowered Regeneron Pharmaceuticals to a hold rating and set a $485.00 target price on the stock. in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Hold and an average price target of $489.92.
Regeneron Pharmaceuticals (REGN) traded up 1.41% during trading on Friday, hitting $469.95. 986,046 shares of the stock traded hands. Regeneron Pharmaceuticals has a 52-week low of $325.35 and a 52-week high of $543.55. The stock has a market cap of $49.83 billion, a P/E ratio of 47.15 and a beta of 1.62. The stock 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 announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported $4.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $1.50. Regeneron Pharmaceuticals had a return on equity of 25.58% and a net margin of 22.05%. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter last year, the firm posted $2.82 EPS. The business’s revenue was up 21.2% on a year-over-year basis. On average, analysts anticipate that Regeneron Pharmaceuticals will post $14.92 EPS for the current fiscal year.
In other Regeneron Pharmaceuticals news, CFO Robert E. Landry sold 189 shares of Regeneron Pharmaceuticals stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $501.06, for a total value of $94,700.34. Following the completion of the transaction, the chief financial officer now directly owns 10,099 shares of the company’s stock, valued at approximately $5,060,204.94. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Sanofi bought 166,415 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was purchased at an average cost of $480.93 per share, with a total value of $80,033,965.95. The disclosure for this purchase can be found here. Insiders have sold a total of 89,468 shares of company stock valued at $42,312,448 over the last three months. Corporate insiders own 10.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oppenheimer & Co. Inc. grew its position in Regeneron Pharmaceuticals by 20.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 7,007 shares of the biopharmaceutical company’s stock valued at $3,441,000 after acquiring an additional 1,199 shares in the last quarter. Dupont Capital Management Corp acquired a new position in Regeneron Pharmaceuticals in the 2nd quarter valued at about $220,000. Blair William & Co. IL grew its position in Regeneron Pharmaceuticals by 4.8% in the 2nd quarter. Blair William & Co. IL now owns 1,713 shares of the biopharmaceutical company’s stock valued at $841,000 after acquiring an additional 79 shares in the last quarter. Principal Financial Group Inc. grew its position in Regeneron Pharmaceuticals by 2.4% in the 2nd quarter. Principal Financial Group Inc. now owns 115,201 shares of the biopharmaceutical company’s stock valued at $56,580,000 after acquiring an additional 2,646 shares in the last quarter. Finally, National Pension Service grew its position in Regeneron Pharmaceuticals by 10.8% in the 2nd quarter. National Pension Service now owns 66,518 shares of the biopharmaceutical company’s stock valued at $33,920,000 after acquiring an additional 6,481 shares in the last quarter. 67.95% of the stock is owned by institutional investors.
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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