Evercore ISI reaffirmed their buy rating on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) in a research note published on Monday, AnalystRatings.com reports. Evercore ISI currently has a $395.00 price target on the biopharmaceutical company’s stock.
REGN has been the subject of a number of other reports. Oppenheimer cut their price target on Regeneron Pharmaceuticals from $480.00 to $430.00 in a research note on Wednesday, November 6th. Piper Jaffray Companies set a $435.00 price target on Regeneron Pharmaceuticals and gave the company a buy rating in a research note on Tuesday, October 8th. Cowen set a $349.00 price target on Regeneron Pharmaceuticals and gave the company a hold rating in a research note on Tuesday, October 8th. Credit Suisse Group boosted their price target on Regeneron Pharmaceuticals from $310.00 to $340.00 and gave the company a neutral rating in a research note on Wednesday, November 6th. Finally, Morgan Stanley boosted their price target on Regeneron Pharmaceuticals from $375.00 to $387.00 and gave the company an equal weight rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Regeneron Pharmaceuticals currently has an average rating of Hold and an average target price of $384.63.
NASDAQ REGN traded down $9.91 during trading hours on Monday, hitting $338.39. The company’s stock had a trading volume of 1,029,600 shares, compared to its average volume of 774,625. Regeneron Pharmaceuticals has a 12 month low of $271.37 and a 12 month high of $442.00. The company’s 50 day simple moving average is $303.72 and its two-hundred day simple moving average is $304.39. The company has a market cap of $37.81 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.03 and a quick ratio of 3.27.
Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported $6.67 EPS for the quarter, topping the consensus estimate of $5.13 by $1.54. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.98 billion. Regeneron Pharmaceuticals had a return on equity of 24.85% and a net margin of 28.13%. Regeneron Pharmaceuticals’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same period last year, the company earned $5.87 EPS. As a group, research analysts predict that Regeneron Pharmaceuticals will post 19.62 earnings per share for the current fiscal year.
Regeneron Pharmaceuticals declared that its board has authorized a share buyback plan on Tuesday, November 5th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the biopharmaceutical company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other news, EVP Neil Stahl sold 7,364 shares of Regeneron Pharmaceuticals stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $338.52, for a total transaction of $2,492,861.28. Following the transaction, the executive vice president now directly owns 21,150 shares of the company’s stock, valued at approximately $7,159,698. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Sanofi sold 172,904 shares of Regeneron Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $281.15, for a total value of $48,611,959.60. Over the last ninety days, insiders have sold 185,768 shares of company stock worth $53,015,761. Insiders own 11.84% of the company’s stock.
Several hedge funds have recently bought and sold shares of REGN. Buckingham Capital Management Inc. purchased a new position in shares of Regeneron Pharmaceuticals during the 1st quarter valued at about $969,000. Retirement Systems of Alabama lifted its position in shares of Regeneron Pharmaceuticals by 0.5% during the 2nd quarter. Retirement Systems of Alabama now owns 36,674 shares of the biopharmaceutical company’s stock valued at $11,479,000 after buying an additional 179 shares in the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Regeneron Pharmaceuticals by 583.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 410 shares of the biopharmaceutical company’s stock valued at $128,000 after buying an additional 350 shares in the last quarter. Accurate Investment Solutions Inc. purchased a new position in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at about $31,000. Finally, Xact Kapitalforvaltning AB lifted its holdings in Regeneron Pharmaceuticals by 6.6% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 15,712 shares of the biopharmaceutical company’s stock worth $4,918,000 after purchasing an additional 969 shares in the last quarter. 66.61% of the stock is currently owned by hedge funds and other 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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