Regeneron Pharmaceuticals, Inc. (REGN) Stock Rating Reaffirmed by Piper Jaffray Companies
Piper Jaffray Companies reissued their overweight rating on shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) in a report published on Friday, MarketBeat Ratings reports. Piper Jaffray Companies currently has a $540.00 price target on the biopharmaceutical company’s stock.
Several other research firms have also commented on REGN. Leerink Swann restated an outperform rating and issued a $493.00 price target on shares of Regeneron Pharmaceuticals in a report on Tuesday, June 13th. Oppenheimer Holdings, Inc. reiterated a hold rating on shares of Regeneron Pharmaceuticals in a research note on Wednesday, June 14th. BMO Capital Markets reiterated a market perform rating and set a $421.00 price objective on shares of Regeneron Pharmaceuticals in a research note on Wednesday, June 21st. Canaccord Genuity set a $484.00 price objective on shares of Regeneron Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, June 20th. Finally, Raymond James Financial, Inc. reissued an outperform rating and issued a $547.00 price objective (up previously from $475.00) on shares of Regeneron Pharmaceuticals in a research report on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $487.26.
Regeneron Pharmaceuticals (NASDAQ:REGN) opened at 462.24 on Friday. The firm has a 50 day moving average of $461.31 and a 200 day moving average of $450.61. The firm has a market cap of $49.01 billion, a P/E ratio of 46.37 and a beta of 1.63. Regeneron Pharmaceuticals has a 1-year low of $325.35 and a 1-year high of $543.55.
Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its earnings results on Thursday, August 3rd. The biopharmaceutical company reported $4.17 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.67 by $1.50. Regeneron Pharmaceuticals had a return on equity of 25.58% and a net margin of 22.05%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.36 billion. During the same quarter in the previous year, the business earned $2.82 EPS. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. On average, equities research analysts expect that Regeneron Pharmaceuticals will post $14.93 EPS for the current year.
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In other news, major shareholder Sanofi acquired 166,415 shares of the business’s stock in a transaction that occurred on Thursday, August 24th. The shares were purchased at an average cost of $480.93 per share, for a total transaction of $80,033,965.95. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman P Roy Vagelos sold 15,191 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $470.15, for a total transaction of $7,142,048.65. Following the transaction, the chairman now directly owns 329,543 shares of the company’s stock, valued at $154,934,641.45. The disclosure for this sale can be found here. Insiders have sold a total of 85,968 shares of company stock worth $40,699,948 over the last quarter. Insiders own 10.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in REGN. FMR LLC boosted its position in shares of Regeneron Pharmaceuticals by 6.3% during the second quarter. FMR LLC now owns 7,039,884 shares of the biopharmaceutical company’s stock worth $3,457,569,000 after buying an additional 416,192 shares during the period. BlackRock Inc. increased its position in Regeneron Pharmaceuticals by 0.7% in the 2nd quarter. BlackRock Inc. now owns 6,188,267 shares of the biopharmaceutical company’s stock valued at $3,039,305,000 after acquiring an additional 41,406 shares during the period. Wellington Management Group LLP increased its position in Regeneron Pharmaceuticals by 7.9% in the 1st quarter. Wellington Management Group LLP now owns 6,135,559 shares of the biopharmaceutical company’s stock valued at $2,377,590,000 after acquiring an additional 446,850 shares during the period. Vanguard Group Inc. raised its stake in Regeneron Pharmaceuticals by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 5,270,458 shares of the biopharmaceutical company’s stock valued at $2,588,533,000 after acquiring an additional 148,962 shares in the last quarter. Finally, State Street Corp raised its stake in Regeneron Pharmaceuticals by 4.3% during the 1st quarter. State Street Corp now owns 3,380,151 shares of the biopharmaceutical company’s stock valued at $1,309,861,000 after acquiring an additional 139,602 shares in the last quarter. 67.95% of the stock is currently owned by institutional investors.
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 commercializes medicines for eye diseases, high low-density lipoprotein (LDL) cholesterol, and an inflammatory condition and have product candidates in development in other areas, including rheumatoid arthritis, asthma, atopic dermatitis, pain, cancer, and infectious diseases.
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