Zacks Investment Research lowered shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) from a strong-buy rating to a hold rating in a report released 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.”
A number of other equities research analysts also recently commented on REGN. Leerink Swann reaffirmed an outperform rating and issued a $493.00 target price on shares of Regeneron Pharmaceuticals in a research report on Tuesday, June 13th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Regeneron Pharmaceuticals in a research report on Wednesday, June 14th. Piper Jaffray Companies lifted their target price on shares of Regeneron Pharmaceuticals from $446.00 to $557.00 and gave the stock an overweight rating in a research report on Tuesday, June 20th. BMO Capital Markets reaffirmed a market perform rating and issued a $421.00 target price on shares of Regeneron Pharmaceuticals in a research report on Wednesday, June 21st. Finally, Canaccord Genuity set a $484.00 target price on shares of Regeneron Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, June 20th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $489.92.
Regeneron Pharmaceuticals (NASDAQ REGN) traded up 1.41% during trading on Wednesday, reaching $469.95. The company had a trading volume of 986,046 shares. The firm’s 50 day moving average price is $460.32 and its 200 day moving average price is $451.90. Regeneron Pharmaceuticals has a 12-month low of $325.35 and a 12-month high of $543.55. The firm has a market capitalization of $49.83 billion, a PE ratio of 47.15 and a beta of 1.62.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported $4.17 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the firm posted $2.82 EPS. The firm’s revenue was up 21.2% on a year-over-year basis. Equities research analysts forecast that Regeneron Pharmaceuticals will post $14.92 EPS for the current year.
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In other Regeneron Pharmaceuticals news, Director Michael S. Brown sold 1,500 shares of Regeneron Pharmaceuticals stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $475.00, for a total value of $712,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles A. Baker sold 2,000 shares of Regeneron Pharmaceuticals stock in a transaction on Friday, September 29th. The shares were sold at an average price of $450.00, for a total transaction of $900,000.00. Following the completion of the sale, the director now owns 11,000 shares in the company, valued at $4,950,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 89,468 shares of company stock worth $42,312,448. 10.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Intl Fcstone Inc. bought a new stake in Regeneron Pharmaceuticals in the 2nd quarter valued at $346,000. Lord Abbett & CO. LLC bought a new stake in Regeneron Pharmaceuticals in the 2nd quarter valued at $51,931,000. Toronto Dominion Bank increased its holdings in Regeneron Pharmaceuticals by 25.8% in the 2nd quarter. Toronto Dominion Bank now owns 25,835 shares of the biopharmaceutical company’s stock valued at $12,686,000 after acquiring an additional 5,295 shares during the last quarter. WINTON GROUP Ltd bought a new stake in Regeneron Pharmaceuticals in the 2nd quarter valued at $713,000. Finally, Public Employees Retirement System of Ohio increased its holdings in Regeneron Pharmaceuticals by 1.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 54,288 shares of the biopharmaceutical company’s stock valued at $26,663,000 after acquiring an additional 867 shares during the last quarter. Institutional investors own 67.95% 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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