Regeneron Pharmaceuticals Inc. (REGN) Rating Lowered to Hold at Zacks Investment Research
Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Regeneron reported disappointing top-line data from an ongoing phase II CAPELLA study, evaluating Eylea in combination with rinucumab, in patients with neovascular age-related macular degeneration (wet AMD). Given that the company is looking to expand Eylea’s label into additional indications, the reported study results are unimpressive. We note that Eylea, which is approved for several eye disorders, is the key growth driver at Regeneron. The company expects U.S. Eylea net sales to grow 20–25% year over year in 2016. Meanwhile, Regeneron’s efforts to develop its pipeline are impressive. The company has several candidates in its pipeline with blockbuster potential. Investor focus should remain on the approval status of Dupixent and sarilumab. Also, Regeneron’s collaboration deals with companies like Bayer and Sanofi are encouraging. Regeneron got a huge boost when Praluent became the first PCSK9 inhibitor to gain FDA nod.”
Other equities research analysts also recently issued reports about the company. Leerink Swann restated a “buy” rating on shares of Regeneron Pharmaceuticals in a research report on Monday, July 11th. RBC Capital Markets restated a “buy” rating on shares of Regeneron Pharmaceuticals in a research report on Saturday, August 6th. Goldman Sachs Group Inc. restated a “buy” rating on shares of Regeneron Pharmaceuticals in a research report on Wednesday, August 10th. Vetr downgraded Regeneron Pharmaceuticals from a “buy” rating to a “hold” rating and set a $422.08 price objective on the stock. in a research report on Wednesday, July 27th. Finally, Canaccord Genuity restated a “hold” rating and set a $450.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Friday, August 5th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the company. Regeneron Pharmaceuticals has an average rating of “Hold” and a consensus target price of $472.46.
Regeneron Pharmaceuticals (NASDAQ:REGN) opened at 402.82 on Tuesday. The stock has a market cap of $42.15 billion, a PE ratio of 62.84 and a beta of 1.31. Regeneron Pharmaceuticals has a 1-year low of $329.09 and a 1-year high of $592.59. The stock has a 50 day moving average price of $404.40 and a 200-day moving average price of $391.48.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.17. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.24 billion. Regeneron Pharmaceuticals had a return on equity of 23.77% and a net margin of 15.65%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.89 earnings per share. On average, equities analysts expect that Regeneron Pharmaceuticals will post $11.00 EPS for the current year.
In other Regeneron Pharmaceuticals news, Director Joseph L. Goldstein sold 2,125 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $425.00, for a total transaction of $903,125.00. Following the sale, the director now directly owns 15,125 shares of the company’s stock, valued at approximately $6,428,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.40% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Temasek Holdings Private Ltd boosted its stake in Regeneron Pharmaceuticals by 116.8% in the first quarter. Temasek Holdings Private Ltd now owns 126,351 shares of the biopharmaceutical company’s stock worth $45,542,000 after buying an additional 68,062 shares during the period. Bank of Montreal Can acquired a new stake in Regeneron Pharmaceuticals during the second quarter worth approximately $12,646,000. Renaissance Technologies LLC boosted its stake in Regeneron Pharmaceuticals by 102.3% in the first quarter. Renaissance Technologies LLC now owns 216,962 shares of the biopharmaceutical company’s stock worth $78,202,000 after buying an additional 109,700 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in Regeneron Pharmaceuticals by 34.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 95,104 shares of the biopharmaceutical company’s stock worth $33,215,000 after buying an additional 24,146 shares during the period. Finally, Arizona State Retirement System boosted its stake in Regeneron Pharmaceuticals by 1.4% in the first quarter. Arizona State Retirement System now owns 21,200 shares of the biopharmaceutical company’s stock worth $7,641,000 after buying an additional 300 shares during the period. Hedge funds and other institutional investors own 68.16% of the company’s stock.
About Regeneron Pharmaceuticals
Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company’s segment includes activities related to the discovery, development and commercialization of pharmaceutical products for the treatment of serious medical conditions.
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