Canaccord Genuity Group Cuts Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target to $875.00

Regeneron Pharmaceuticals (NASDAQ:REGN) had its price target cut by equities research analysts at Canaccord Genuity Group from $1,057.00 to $875.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price objective indicates a potential upside of 39.24% from the company’s current price.

A number of other research analysts have also commented on the stock. Morgan Stanley lifted their price objective on shares of Regeneron Pharmaceuticals from $769.00 to $796.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Regeneron Pharmaceuticals in a report on Friday, March 27th. Zacks Research cut Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $800.00 price objective on shares of Regeneron Pharmaceuticals in a research note on Thursday, April 23rd. Finally, Piper Sandler lowered their target price on Regeneron Pharmaceuticals from $875.00 to $855.00 and set an “overweight” rating on the stock in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $792.65.

Regeneron Pharmaceuticals Stock Performance

Shares of Regeneron Pharmaceuticals stock traded down $1.29 on Tuesday, hitting $628.39. The stock had a trading volume of 59,424 shares, compared to its average volume of 769,293. The stock has a market cap of $66.43 billion, a price-to-earnings ratio of 15.28, a P/E/G ratio of 1.55 and a beta of 0.30. The company has a current ratio of 3.57, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06. Regeneron Pharmaceuticals has a 52-week low of $476.49 and a 52-week high of $821.11. The company’s 50 day moving average price is $741.98 and its 200 day moving average price is $745.92.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share for the quarter, beating analysts’ consensus estimates of $8.91 by $0.56. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.48 billion. Regeneron Pharmaceuticals had a return on equity of 13.16% and a net margin of 29.65%.The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $8.22 earnings per share. On average, research analysts anticipate that Regeneron Pharmaceuticals will post 37.1 EPS for the current year.

Insider Activity

In other Regeneron Pharmaceuticals news, Director Huda Y. Zoghbi sold 1,638 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $781.33, for a total value of $1,279,818.54. Following the sale, the director owned 1,703 shares of the company’s stock, valued at $1,330,604.99. This represents a 49.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arthur F. Ryan sold 100 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $705.24, for a total transaction of $70,524.00. Following the completion of the sale, the director owned 17,503 shares in the company, valued at $12,343,815.72. This represents a 0.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.97% of the stock is owned by insiders.

Institutional Investors Weigh In On Regeneron Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Regeneron Pharmaceuticals by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 9,075,153 shares of the biopharmaceutical company’s stock valued at $7,004,838,000 after acquiring an additional 26,884 shares during the last quarter. Dodge & Cox grew its holdings in shares of Regeneron Pharmaceuticals by 1.0% during the fourth quarter. Dodge & Cox now owns 4,596,358 shares of the biopharmaceutical company’s stock worth $3,547,791,000 after buying an additional 45,513 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Regeneron Pharmaceuticals by 4.4% in the fourth quarter. Franklin Resources Inc. now owns 2,560,004 shares of the biopharmaceutical company’s stock valued at $1,975,990,000 after buying an additional 106,861 shares during the last quarter. Nuveen LLC lifted its stake in shares of Regeneron Pharmaceuticals by 71.1% during the fourth quarter. Nuveen LLC now owns 2,010,517 shares of the biopharmaceutical company’s stock valued at $1,551,858,000 after buying an additional 835,240 shares during the period. Finally, Capital World Investors grew its stake in Regeneron Pharmaceuticals by 1.6% in the 3rd quarter. Capital World Investors now owns 1,998,366 shares of the biopharmaceutical company’s stock worth $1,123,609,000 after acquiring an additional 32,348 shares during the period. Hedge funds and other institutional investors own 83.31% of the company’s stock.

Regeneron Pharmaceuticals News Roundup

Here are the key news stories impacting Regeneron Pharmaceuticals this week:

• Negative Sentiment: Regeneron’s Phase 3 melanoma study of fianlimab + Libtayo failed to meet its primary endpoint versus Merck’s Keytruda, raising concerns about the company’s ability to compete in a key cancer market and triggering a sharp selloff. Article Title
• Negative Sentiment: Multiple law firms launched shareholder and securities-law investigations after the trial miss, with claims that executives were overly optimistic before the disappointing results were disclosed. Article Title
• Negative Sentiment: Several Wall Street firms cut price targets or downgraded the stock following the data release, including Citigroup, Wells Fargo, JPMorgan, RBC, Truist, Piper Sandler, BMO, and Leerink, signaling reduced near-term confidence. Article Title
• Positive Sentiment: Regeneron announced a strategic collaboration with Parabilis Medicines to develop novel Antibody-Helicon™ Conjugates, a potentially meaningful pipeline expansion that includes $125 million upfront and up to about $2.2 billion in milestone payments. Article Title
• Neutral Sentiment: Despite the negative news flow, some analysts kept constructive ratings or still see upside to current levels, suggesting the selloff may be driven more by the clinical setback than by a broader deterioration in Regeneron’s core business. Article Title

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc (NASDAQ: REGN) is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.