Truist Financial Issues Pessimistic Forecast for Regeneron Pharmaceuticals (NASDAQ:REGN) Stock Price

Regeneron Pharmaceuticals (NASDAQ:REGN) had its target price cut by Truist Financial from $1,126.00 to $1,004.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s target price points to a potential upside of 37.48% from the stock’s previous close.

A number of other research firms also recently commented on REGN. Wells Fargo & Company cut their target price on shares of Regeneron Pharmaceuticals from $1,200.00 to $1,050.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. dropped their price target on Regeneron Pharmaceuticals from $1,200.00 to $1,150.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Evercore ISI reduced their price objective on Regeneron Pharmaceuticals from $1,250.00 to $1,175.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. BMO Capital Markets dropped their target price on Regeneron Pharmaceuticals from $1,300.00 to $1,190.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Canaccord Genuity Group lowered shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Regeneron Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $1,044.48.

Regeneron Pharmaceuticals Price Performance

REGN opened at $730.30 on Wednesday. The company’s 50-day simple moving average is $760.25 and its two-hundred day simple moving average is $968.39. Regeneron Pharmaceuticals has a 52-week low of $693.00 and a 52-week high of $1,211.20. The stock has a market capitalization of $80.25 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.19 and a beta of 0.10. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.46 and a current ratio of 5.28.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of Regeneron Pharmaceuticals by 86,013.3% during the third quarter. International Assets Investment Management LLC now owns 880,939 shares of the biopharmaceutical company’s stock valued at $926,078,000 after buying an additional 879,916 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new stake in Regeneron Pharmaceuticals in the 3rd quarter valued at $127,489,000. Icon Wealth Advisors LLC lifted its stake in Regeneron Pharmaceuticals by 18,342.0% in the 3rd quarter. Icon Wealth Advisors LLC now owns 75,981 shares of the biopharmaceutical company’s stock worth $79,874,000 after purchasing an additional 75,569 shares in the last quarter. State Street Corp boosted its holdings in shares of Regeneron Pharmaceuticals by 1.3% during the 3rd quarter. State Street Corp now owns 4,902,404 shares of the biopharmaceutical company’s stock valued at $5,153,603,000 after purchasing an additional 61,277 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Regeneron Pharmaceuticals by 12.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 540,293 shares of the biopharmaceutical company’s stock valued at $567,864,000 after purchasing an additional 59,769 shares in the last quarter. 83.31% of the stock is currently owned by institutional investors.

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.