JPMorgan Chase & Co. Reiterates “$405.00” Price Target for Regeneron Pharmaceuticals (REGN)
JPMorgan Chase & Co. set a $405.00 target price on Regeneron Pharmaceuticals (NASDAQ:REGN) in a research report released on Wednesday morning. The brokerage currently has a hold rating on the biopharmaceutical company’s stock.
“REGN today reported in-line 3Q product sales (total rev +$21M; 1%) and a bottom-line beat (+$0.74; 14%) while tightening and lowering OpEx/tax guidance. The 3Q print/call was rather uneventful albeit high on details; Eylea was generally in line with expectations (+7% YoY), and Dupixent/Praluent/Kevzara numbers were known following SNY’s print last Wednesday. With many (not all) 4Q18 clinical/regulatory catalysts in the rear view mirror, we expect investors to focus on ongoing product launches and the robustness of the Eylea franchise. Maintain Neutral.”,” the firm’s analyst wrote.
REGN has been the subject of several other reports. Cantor Fitzgerald lifted their price objective on Regeneron Pharmaceuticals to $441.00 and gave the stock a neutral rating in a research report on Monday, October 22nd. TheStreet raised Regeneron Pharmaceuticals from a c rating to a b- rating in a research report on Wednesday, July 25th. BidaskClub lowered Regeneron Pharmaceuticals from a buy rating to a hold rating in a research report on Saturday, August 11th. Morgan Stanley lifted their price objective on Regeneron Pharmaceuticals from $409.00 to $412.00 and gave the stock an equal weight rating in a research report on Thursday, October 11th. Finally, Canaccord Genuity lifted their price objective on Regeneron Pharmaceuticals from $304.00 to $390.00 and gave the stock a hold rating in a research report on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $410.95.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings data on Tuesday, November 6th. The biopharmaceutical company reported $5.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $4.94 by $0.93. Regeneron Pharmaceuticals had a return on equity of 30.24% and a net margin of 28.24%. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the company posted $3.99 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. On average, analysts forecast that Regeneron Pharmaceuticals will post 19.31 earnings per share for the current year.
In related news, Director Michael S. Brown sold 1,500 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $380.49, for a total value of $570,735.00. Following the completion of the sale, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $570,735. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Sanofi sold 104,552 shares of the business’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of $406.68, for a total value of $42,519,207.36. The disclosure for this sale can be found here. Insiders sold a total of 110,052 shares of company stock valued at $44,651,762 over the last ninety days. 12.42% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Founders Capital Management LLC acquired a new position in Regeneron Pharmaceuticals during the 3rd quarter valued at about $226,000. Intl Fcstone Inc. acquired a new position in Regeneron Pharmaceuticals during the 2nd quarter valued at about $233,000. Raymond James & Associates boosted its stake in Regeneron Pharmaceuticals by 57.4% during the 2nd quarter. Raymond James & Associates now owns 81,916 shares of the biopharmaceutical company’s stock valued at $28,260,000 after purchasing an additional 29,864 shares during the last quarter. Signaturefd LLC boosted its stake in Regeneron Pharmaceuticals by 123.8% during the 2nd quarter. Signaturefd LLC now owns 358 shares of the biopharmaceutical company’s stock valued at $124,000 after purchasing an additional 198 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Regeneron Pharmaceuticals by 26.9% during the 2nd quarter. First Trust Advisors LP now owns 187,988 shares of the biopharmaceutical company’s stock valued at $64,854,000 after purchasing an additional 39,879 shares during the last quarter. Institutional investors and hedge funds own 66.06% of the company’s stock.
Regeneron Pharmaceuticals Company Profile
Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for treating serious medical conditions worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema (DME); myopic choroidal neovascularization; and diabetic retinopathy in patients with DME, as well as macular edema following retinal vein occlusion, including macular edema following central retinal vein occlusion and macular edema following branch retinal vein occlusion.
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