Zacks Investment Research lowered shares of Regeneron (NASDAQ:REGN) from a buy rating to a hold rating in a report published on Wednesday morning.
According to Zacks, “Regeneron’s top-line continues to be driven by strong Eylea sales. The potential label expansion of Eylea in patients with wet age-related macular degeneration will further boost sales in 2018. The action date set by the FDA is Aug 11, 2018. The approval of new drugs like Kevzara and Dupixent provides a significant boost. Dupixent uptake in the United States for moderate-to-severe atopic dermatitis was encouraging. Moreover, the company is also looking to expand Dupixent’s label in uncontrolled asthma. Kevzara is also expected to pick up further. A potential approval of PD-1 antibody cemiplimab, in advanced cutaneous squamous cell carcinoma will further boost prospects. However, shares of the company have underperformed the industry in the last 12 months. Sales of Praluent have failed to impress to date.”
Other research analysts have also recently issued research reports about the company. Argus dropped their price target on Regeneron from $540.00 to $470.00 and set a buy rating for the company in a research report on Thursday, December 28th. Credit Suisse Group set a $440.00 price objective on Regeneron and gave the company a buy rating in a research note on Wednesday, February 7th. Canaccord Genuity reaffirmed a buy rating and set a $522.00 price objective on shares of Regeneron in a research note on Wednesday, February 7th. Guggenheim set a $530.00 price objective on Regeneron and gave the company a buy rating in a research note on Friday, February 9th. Finally, Morgan Stanley increased their price objective on Regeneron from $401.00 to $415.00 and gave the company an equal weight rating in a research note on Friday, February 9th. Three analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $449.49.
Shares of REGN stock traded up $2.94 during mid-day trading on Wednesday, reaching $325.72. The stock had a trading volume of 17,240 shares, compared to its average volume of 940,007. Regeneron has a 12-month low of $313.53 and a 12-month high of $543.55. The stock has a market cap of $35,328.60, a P/E ratio of 24.07, a P/E/G ratio of 1.07 and a beta of 1.46. The company has a quick ratio of 3.18, a current ratio of 3.82 and a debt-to-equity ratio of 0.11.
Regeneron (NASDAQ:REGN) last announced its quarterly earnings results on Thursday, February 8th. The biopharmaceutical company reported $5.23 earnings per share for the quarter, beating analysts’ consensus estimates of $4.18 by $1.05. Regeneron had a return on equity of 28.48% and a net margin of 20.41%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter last year, the business posted $3.04 earnings per share. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. sell-side analysts anticipate that Regeneron will post 19.2 earnings per share for the current year.
In other Regeneron news, Director Joseph L. Goldstein sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $340.00, for a total value of $680,000.00. Following the sale, the director now directly owns 14,000 shares of the company’s stock, valued at approximately $4,760,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph L. Goldstein sold 1,000 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $325.60, for a total value of $325,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,000 shares of company stock worth $1,705,640. 10.80% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in REGN. Steward Partners Investment Advisory LLC lifted its stake in shares of Regeneron by 495.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 369 shares of the biopharmaceutical company’s stock valued at $138,000 after purchasing an additional 307 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in shares of Regeneron in the 4th quarter valued at about $152,000. Advisory Services Network LLC lifted its stake in shares of Regeneron by 147.0% in the 4th quarter. Advisory Services Network LLC now owns 447 shares of the biopharmaceutical company’s stock valued at $168,000 after purchasing an additional 266 shares in the last quarter. Vident Investment Advisory LLC acquired a new position in shares of Regeneron in the 3rd quarter valued at about $200,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Regeneron in the 4th quarter valued at about $204,000. 66.39% of the stock is currently owned by institutional investors and hedge funds.
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Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for the treatment of 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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