Regeneron Pharmaceuticals (NASDAQ:REGN) had its price objective raised by Credit Suisse Group from $310.00 to $340.00 in a note issued to investors on Wednesday, The Fly reports. The firm currently has a “neutral” rating on the biopharmaceutical company’s stock. Credit Suisse Group’s price objective would suggest a potential upside of 2.28% from the company’s previous close.
Several other equities research analysts also recently issued reports on REGN. Guggenheim upgraded shares of Regeneron Pharmaceuticals from a “neutral” rating to a “buy” rating and raised their target price for the company from $355.00 to $403.00 in a research note on Monday, September 23rd. BidaskClub raised shares of Regeneron Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, October 25th. Cowen set a $349.00 target price on shares of Regeneron Pharmaceuticals and gave the stock a “hold” rating in a report on Tuesday, October 8th. Canaccord Genuity lowered their target price on shares of Regeneron Pharmaceuticals from $353.00 to $320.00 and set a “hold” rating on the stock in a report on Wednesday, October 9th. Finally, BMO Capital Markets set a $344.00 target price on shares of Regeneron Pharmaceuticals and gave the stock a “hold” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $392.06.
Shares of Regeneron Pharmaceuticals stock traded up $7.94 on Wednesday, hitting $332.43. 8,283 shares of the company’s stock traded hands, compared to its average volume of 701,168. The firm’s 50-day moving average price is $296.76 and its two-hundred day moving average price is $304.29. The stock has a market capitalization of $34.16 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 1.37 and a beta of 1.14. Regeneron Pharmaceuticals has a one year low of $271.37 and a one year high of $442.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.88 and a quick ratio of 3.11.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported $6.67 EPS for the quarter, topping the Zacks’ consensus estimate of $5.13 by $1.54. Regeneron Pharmaceuticals had a net margin of 28.59% and a return on equity of 25.79%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the business posted $5.87 EPS. The company’s quarterly revenue was up 23.2% on a year-over-year basis. On average, analysts forecast that Regeneron Pharmaceuticals will post 18.91 earnings per share for the current fiscal year.
Regeneron Pharmaceuticals announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the biopharmaceutical company to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
In other news, major shareholder Sanofi sold 172,904 shares of Regeneron Pharmaceuticals stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $281.15, for a total transaction of $48,611,959.60. Company insiders own 11.84% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in REGN. Vanguard Group Inc. increased its position in shares of Regeneron Pharmaceuticals by 0.9% during the second quarter. Vanguard Group Inc. now owns 6,079,347 shares of the biopharmaceutical company’s stock worth $1,902,835,000 after acquiring an additional 54,247 shares in the last quarter. Invesco Ltd. boosted its holdings in Regeneron Pharmaceuticals by 3.5% during the second quarter. Invesco Ltd. now owns 1,344,273 shares of the biopharmaceutical company’s stock worth $420,759,000 after purchasing an additional 46,055 shares during the last quarter. Northern Trust Corp boosted its holdings in Regeneron Pharmaceuticals by 0.6% during the second quarter. Northern Trust Corp now owns 978,518 shares of the biopharmaceutical company’s stock worth $306,275,000 after purchasing an additional 5,530 shares during the last quarter. Parnassus Investments CA boosted its holdings in Regeneron Pharmaceuticals by 290.6% during the second quarter. Parnassus Investments CA now owns 625,000 shares of the biopharmaceutical company’s stock worth $195,625,000 after purchasing an additional 465,000 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its holdings in Regeneron Pharmaceuticals by 9.2% during the second quarter. Pictet Asset Management Ltd. now owns 538,358 shares of the biopharmaceutical company’s stock worth $168,506,000 after purchasing an additional 45,494 shares during the last quarter. Institutional investors and hedge funds own 66.56% of the company’s stock.
Regeneron Pharmaceuticals Company Profile
Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for treating various medical conditions worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema (DME); myopic choroidal neovascularization; and diabetic retinopathy in patients with DME, as well as macular edema following retinal vein occlusion, including macular edema following central retinal vein occlusion and macular edema following branch retinal vein occlusion.
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