Regeneron Pharmaceuticals (NASDAQ:REGN) Stock Rating Lowered by Wells Fargo & Company

Regeneron Pharmaceuticals (NASDAQ:REGN) was downgraded by equities research analysts at Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Friday, Marketbeat Ratings reports. They currently have a $580.00 price target on the biopharmaceutical company’s stock, down from their previous price target of $700.00. Wells Fargo & Company‘s target price would suggest a potential upside of 17.59% from the stock’s previous close.

A number of other research firms also recently issued reports on REGN. Canaccord Genuity Group upgraded Regeneron Pharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 22nd. Guggenheim decreased their price target on shares of Regeneron Pharmaceuticals from $940.00 to $810.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. TD Cowen dropped their price objective on shares of Regeneron Pharmaceuticals from $1,230.00 to $1,030.00 and set a “buy” rating on the stock in a research note on Tuesday, February 4th. Citigroup upgraded shares of Regeneron Pharmaceuticals from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $600.00 to $700.00 in a report on Wednesday, May 14th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $662.00 target price (down from $943.00) on shares of Regeneron Pharmaceuticals in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $874.56.

Regeneron Pharmaceuticals Price Performance

REGN stock opened at $493.24 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.73 and a quick ratio of 3.95. Regeneron Pharmaceuticals has a 1 year low of $485.00 and a 1 year high of $1,211.20. The firm has a 50-day moving average of $584.25 and a 200 day moving average of $667.42. The company has a market cap of $53.25 billion, a P/E ratio of 12.89, a PEG ratio of 2.34 and a beta of 0.43.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Tuesday, April 29th. The biopharmaceutical company reported $8.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.83 by ($0.61). The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.40 billion. Regeneron Pharmaceuticals had a return on equity of 16.32% and a net margin of 31.07%. The firm’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $9.55 EPS. On average, sell-side analysts forecast that Regeneron Pharmaceuticals will post 35.92 EPS for the current year.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

A number of hedge funds have recently bought and sold shares of REGN. Pinney & Scofield Inc. purchased a new stake in shares of Regeneron Pharmaceuticals during the 4th quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Regeneron Pharmaceuticals by 344.4% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 40 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 31 shares during the last quarter. Activest Wealth Management lifted its position in Regeneron Pharmaceuticals by 110.5% during the first quarter. Activest Wealth Management now owns 40 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 21 shares during the period. Costello Asset Management INC purchased a new stake in Regeneron Pharmaceuticals in the first quarter worth approximately $27,000. Finally, Saudi Central Bank purchased a new stake in Regeneron Pharmaceuticals in the first quarter worth approximately $27,000. Hedge funds and other institutional investors own 83.31% of the company’s stock.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.