Regeneron Pharmaceuticals (NASDAQ:REGN) Rating Increased to B- at TheStreet
Regeneron Pharmaceuticals (NASDAQ:REGN) was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating in a research report issued to clients and investors on Monday, TheStreetRatingsTable reports.
Several other equities analysts have also issued reports on REGN. Piper Jaffray Companies set a $435.00 price target on Regeneron Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Robert W. Baird upgraded Regeneron Pharmaceuticals from a “neutral” rating to an “outperform” rating and set a $410.00 price objective for the company in a research report on Wednesday, August 7th. Citigroup raised Regeneron Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the company from $340.00 to $420.00 in a research note on Wednesday, November 6th. JPMorgan Chase & Co. restated a “hold” rating and issued a $375.00 target price on shares of Regeneron Pharmaceuticals in a report on Wednesday, November 6th. Finally, Bank of America started coverage on shares of Regeneron Pharmaceuticals in a report on Wednesday, October 16th. They issued a “neutral” rating and a $325.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Regeneron Pharmaceuticals has an average rating of “Hold” and a consensus price target of $384.74.
NASDAQ REGN opened at $368.81 on Monday. The company has a 50-day simple moving average of $331.72 and a two-hundred day simple moving average of $307.22. Regeneron Pharmaceuticals has a 12-month low of $271.37 and a 12-month high of $442.00. The firm has a market cap of $40.51 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.62 and a beta of 1.19. The company has a quick ratio of 3.27, a current ratio of 4.03 and a debt-to-equity ratio of 0.07.
Regeneron Pharmaceuticals declared that its board has initiated a stock buyback plan on Tuesday, November 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.
In other news, Director Michael S. Brown sold 4,500 shares of Regeneron Pharmaceuticals stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $349.00, for a total transaction of $1,570,500.00. Following the sale, the director now owns 4,823 shares of the company’s stock, valued at approximately $1,683,227. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph L. Goldstein sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $370.00, for a total transaction of $370,000.00. Following the transaction, the director now owns 11,323 shares in the company, valued at approximately $4,189,510. The disclosure for this sale can be found here. Insiders have sold 213,923 shares of company stock worth $63,262,696 over the last three months. Insiders own 11.84% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of Nova Scotia raised its position in shares of Regeneron Pharmaceuticals by 25.4% in the 2nd quarter. Bank of Nova Scotia now owns 21,832 shares of the biopharmaceutical company’s stock worth $6,833,000 after acquiring an additional 4,420 shares in the last quarter. KBC Group NV raised its holdings in Regeneron Pharmaceuticals by 25.6% in the second quarter. KBC Group NV now owns 48,628 shares of the biopharmaceutical company’s stock worth $15,221,000 after purchasing an additional 9,912 shares in the last quarter. Calamos Advisors LLC raised its holdings in Regeneron Pharmaceuticals by 2.1% in the second quarter. Calamos Advisors LLC now owns 11,911 shares of the biopharmaceutical company’s stock worth $3,728,000 after purchasing an additional 248 shares in the last quarter. Gargoyle Investment Advisor L.L.C. raised its holdings in Regeneron Pharmaceuticals by 6.8% in the second quarter. Gargoyle Investment Advisor L.L.C. now owns 1,526 shares of the biopharmaceutical company’s stock worth $478,000 after purchasing an additional 97 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its position in Regeneron Pharmaceuticals by 8.4% during the third quarter. Alberta Investment Management Corp now owns 22,000 shares of the biopharmaceutical company’s stock valued at $6,103,000 after buying an additional 1,700 shares during the period. 66.48% of the stock is owned by institutional investors.
About Regeneron Pharmaceuticals
Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for treating various 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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