Canaccord Genuity Group Increases Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target to $1,057.00

Regeneron Pharmaceuticals (NASDAQ:REGN) had its price objective upped by equities research analysts at Canaccord Genuity Group from $850.00 to $1,057.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Canaccord Genuity Group’s target price suggests a potential upside of 46.08% from the company’s current price.

Several other equities analysts also recently weighed in on the company. Guggenheim lifted their target price on Regeneron Pharmaceuticals from $815.00 to $865.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Cantor Fitzgerald lifted their price target on shares of Regeneron Pharmaceuticals from $678.00 to $740.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Hsbc Global Res upgraded Regeneron Pharmaceuticals to a “strong-buy” rating in a report on Monday, November 24th. HSBC initiated coverage on shares of Regeneron Pharmaceuticals in a research report on Monday, November 24th. They issued a “buy” rating and a $255.00 target price on the stock. Finally, Jefferies Financial Group increased their price objective on Regeneron Pharmaceuticals from $813.00 to $831.00 and gave the stock a “buy” rating in a research report on Wednesday, August 27th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $777.36.

Regeneron Pharmaceuticals Price Performance

Shares of Regeneron Pharmaceuticals stock traded down $0.10 on Thursday, hitting $723.58. 440,790 shares of the company were exchanged, compared to its average volume of 1,100,239. The company has a 50-day moving average price of $644.26 and a 200 day moving average price of $586.74. The company has a quick ratio of 3.33, a current ratio of 4.06 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $76.05 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 2.15 and a beta of 0.37. Regeneron Pharmaceuticals has a 1-year low of $476.49 and a 1-year high of $800.99.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings results on Tuesday, October 28th. The biopharmaceutical company reported $11.83 earnings per share for the quarter, topping analysts’ consensus estimates of $9.73 by $2.10. Regeneron Pharmaceuticals had a return on equity of 13.76% and a net margin of 32.13%.The business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the business posted $12.46 EPS. The company’s revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts predict that Regeneron Pharmaceuticals will post 35.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Regeneron Pharmaceuticals

In related news, Director Christine A. Poon sold 6,500 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $654.27, for a total value of $4,252,755.00. Following the sale, the director directly owned 2,352 shares of the company’s stock, valued at approximately $1,538,843.04. This represents a 73.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jason Pitofsky sold 431 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $651.43, for a total transaction of $280,766.33. Following the transaction, the vice president owned 4,233 shares of the company’s stock, valued at $2,757,503.19. This trade represents a 9.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 7.02% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Regeneron Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of REGN. Activest Wealth Management boosted its holdings in Regeneron Pharmaceuticals by 110.5% in the 1st quarter. Activest Wealth Management now owns 40 shares of the biopharmaceutical company’s stock worth $25,000 after acquiring an additional 21 shares during the period. Costello Asset Management INC purchased a new stake in shares of Regeneron Pharmaceuticals in the first quarter valued at $27,000. Saudi Central Bank acquired a new stake in shares of Regeneron Pharmaceuticals in the first quarter worth $27,000. Salomon & Ludwin LLC acquired a new position in Regeneron Pharmaceuticals during the third quarter valued at $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Regeneron Pharmaceuticals in the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 83.31% of the company’s stock.

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.