Regeneron Pharmaceuticals (NASDAQ:REGN) Reaches New 52-Week High on Better-Than-Expected Earnings

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)’s share price reached a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $876.40 and last traded at $876.40, with a volume of 17,357 shares trading hands. The stock had previously closed at $818.77.

The biopharmaceutical company reported $20.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $16.42 by $3.65. Regeneron Pharmaceuticals had a return on equity of 13.47% and a net margin of 27.86%. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same period last year, the firm earned $11.83 earnings per share. The company’s revenue for the quarter was up 36.3% compared to the same quarter last year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on REGN shares. Cantor Fitzgerald raised their price target on Regeneron Pharmaceuticals from $750.00 to $795.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. boosted their price objective on Regeneron Pharmaceuticals from $900.00 to $950.00 and gave the company an “overweight” rating in a research report on Tuesday, October 6th. Robert W. Baird increased their price objective on Regeneron Pharmaceuticals from $742.00 to $761.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Benchmark upgraded shares of Regeneron Pharmaceuticals from a “hold” rating to a “buy” rating and set a $185.00 target price on the stock in a report on Tuesday, July 7th. Finally, Citigroup lifted their target price on shares of Regeneron Pharmaceuticals from $700.00 to $740.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $847.90.

Insiders Place Their Bets

In related news, insider Andrew Murphy sold 4,147 shares of the firm’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $772.70, for a total value of $3,204,386.90. Following the completion of the sale, the insider owned 47,833 shares of the company’s stock, valued at $36,960,559.10. This trade represents a 7.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marion Mccourt sold 1,131 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $857.39, for a total transaction of $969,708.09. Following the completion of the sale, the executive vice president owned 12,003 shares of the company’s stock, valued at $10,291,252.17. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 8,093 shares of company stock worth $6,506,845. Corporate insiders own 6.97% of the company’s stock.

Institutional Trading of Regeneron Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Western Wealth Management LLC bought a new stake in Regeneron Pharmaceuticals in the 1st quarter worth approximately $26,000. Armstrong Advisory Group Inc. lifted its holdings in shares of Regeneron Pharmaceuticals by 466.7% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 34 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 28 shares during the period. Trust Co. of Vermont bought a new position in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Regeneron Pharmaceuticals in the 2nd quarter worth $29,000. Finally, Fiduciary Financial Advisors purchased a new position in shares of Regeneron Pharmaceuticals in the 2nd quarter worth $29,000. Hedge funds and other institutional investors own 83.31% of the company’s stock.

Regeneron Pharmaceuticals Stock Up 12.9%

The company has a fifty day moving average of $791.28 and a 200 day moving average of $737.25. The company has a quick ratio of 2.78, a current ratio of 3.34 and a debt-to-equity ratio of 0.06. The company has a market cap of $95.21 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 1.37 and a beta of 0.16.

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc is a biotechnology company that discovers, develops and commercializes medicines for serious medical conditions. The company uses genetic and antibody-based research technologies to develop treatments in areas including eye diseases, allergic and inflammatory conditions, cancer, cardiovascular disease, infectious diseases and rare disorders.

Its marketed products include Eylea and Eylea HD for retinal diseases, Dupixent for several inflammatory and allergic conditions, Libtayo for certain cancers, Praluent for cardiovascular disease, Kevzara for rheumatoid arthritis, and other medicines such as Inmazeb, Evkeeza, Veopoz and Arcalyst.