Regeneron Pharmaceuticals (NASDAQ:REGN) Given New $997.00 Price Target at Leerink Partners

Regeneron Pharmaceuticals (NASDAQ:REGN) had its price target increased by investment analysts at Leerink Partners from $835.00 to $997.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “market perform” rating on the biopharmaceutical company’s stock. Leerink Partners‘s price objective suggests a potential upside of 3.41% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Canaccord Genuity Group increased their target price on shares of Regeneron Pharmaceuticals from $875.00 to $922.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. Wall Street Zen raised Regeneron Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Sunday, September 20th. Evercore upped their price target on Regeneron Pharmaceuticals from $825.00 to $850.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Cantor Fitzgerald raised their price objective on Regeneron Pharmaceuticals from $795.00 to $980.00 and gave the company an “overweight” rating in a research note on Monday. Finally, TD Cowen lifted their price objective on Regeneron Pharmaceuticals from $960.00 to $980.00 and gave the stock a “buy” rating in a report on Wednesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Regeneron Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $898.97.

Regeneron Pharmaceuticals Stock Performance

NASDAQ REGN traded up $36.24 on Monday, hitting $964.13. 1,196,366 shares of the company’s stock were exchanged, compared to its average volume of 824,106. The firm has a market cap of $99.27 billion, a price-to-earnings ratio of 21.26, a P/E/G ratio of 1.57 and a beta of 0.10. The firm’s 50-day moving average price is $793.30 and its two-hundred day moving average price is $738.05. Regeneron Pharmaceuticals has a fifty-two week low of $591.52 and a fifty-two week high of $974.00. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.06 and a quick ratio of 3.66.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings results on Friday, October 30th. The biopharmaceutical company reported $20.07 EPS for the quarter, beating the consensus estimate of $16.51 by $3.56. The business had revenue of $5.12 billion during the quarter, compared to analysts’ expectations of $4.58 billion. Regeneron Pharmaceuticals had a return on equity of 16.01% and a net margin of 28.51%. The company’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same period last year, the firm earned $11.83 EPS. On average, research analysts expect that Regeneron Pharmaceuticals will post 49.10 EPS for the current year.

Insider Buying and Selling

In related news, insider Andrew J. Murphy sold 4,147 shares of the business’s stock in a transaction dated Wednesday, October 14th. The shares were sold at an average price of $772.70, for a total value of $3,204,386.90. Following the completion of the transaction, the insider owned 47,833 shares of the company’s stock, valued at approximately $36,960,559.10. The trade was a 7.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marion Mccourt sold 1,131 shares of the company’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $857.39, for a total transaction of $969,708.09. Following the completion of the transaction, the executive vice president owned 12,003 shares in the company, valued at approximately $10,291,252.17. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 8,093 shares of company stock valued at $6,506,845 over the last three months. Insiders own 6.97% of the company’s stock.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

A number of institutional investors have recently modified their holdings of REGN. BlackRock Inc. purchased a new position in shares of Regeneron Pharmaceuticals during the 2nd quarter worth $5,682,636,000. State Street Corp increased its stake in Regeneron Pharmaceuticals by 3.6% in the second quarter. State Street Corp now owns 4,834,688 shares of the biopharmaceutical company’s stock valued at $3,014,621,000 after purchasing an additional 170,210 shares during the last quarter. Bank of America Corp DE increased its stake in Regeneron Pharmaceuticals by 8.5% in the second quarter. Bank of America Corp DE now owns 1,291,053 shares of the biopharmaceutical company’s stock valued at $805,023,000 after purchasing an additional 101,469 shares during the last quarter. Amundi lifted its position in Regeneron Pharmaceuticals by 0.4% during the second quarter. Amundi now owns 1,013,540 shares of the biopharmaceutical company’s stock worth $631,983,000 after buying an additional 3,742 shares during the period. Finally, Legal & General Group Plc purchased a new position in Regeneron Pharmaceuticals during the second quarter worth about $473,872,000. Institutional investors and hedge funds own 83.31% of the company’s stock.

Regeneron Pharmaceuticals News Roundup

Here are the key news stories impacting Regeneron Pharmaceuticals this week:

• Positive Sentiment: Regeneron reported third-quarter earnings of $20.07 per share, well above the $16.51 consensus estimate, while revenue rose 36% year over year to $5.12 billion versus expectations of $4.58 billion. The results were supported by strong Dupixent performance and a larger Sanofi profit share. These Analysts Raise Their Forecasts On Regeneron Pharmaceuticals After Upbeat Q3 Results
• Positive Sentiment: Analysts broadly raised their targets following the earnings beat. Guggenheim lifted its target to $1,100 and maintained a buy rating, JPMorgan raised its target to $1,050 with an overweight rating, and Bank of America increased its target to $1,030 with a buy rating. Truist also raised its target to $982 and kept a buy rating.
• Positive Sentiment: The company’s pipeline and commercial outlook remain additional catalysts, with stronger Libtayo data in high-risk skin cancer and an expanded BARDA supply agreement for Ebola treatment highlighting potential future growth. Regeneron Earnings Call Highlights Explosive Growth, Deep Pipeline
• Positive Sentiment: Regeneron declared a quarterly dividend of $0.94 per share, payable December 3 to shareholders of record November 20. The dividend provides a modest ongoing shareholder return, although the annualized yield is approximately 0.4%.
• Neutral Sentiment: Not all analysts view the recent rally as fully supported by near-term upside. Morgan Stanley, Wells Fargo, Bernstein, RBC and Baird raised their targets but retained equal-weight, market-perform, sector-perform or neutral ratings; their targets remain below the current trading level.
• Negative Sentiment: The stock’s sharp advance has increased valuation and execution concerns. Several firms’ targets imply downside, suggesting investors may already be pricing in much of the recent earnings improvement and Dupixent momentum.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc is a biotechnology company that discovers, develops and commercializes medicines for serious medical conditions. The company uses genetic and antibody-based research technologies to develop treatments in areas including eye diseases, allergic and inflammatory conditions, cancer, cardiovascular disease, infectious diseases and rare disorders.

Its marketed products include Eylea and Eylea HD for retinal diseases, Dupixent for several inflammatory and allergic conditions, Libtayo for certain cancers, Praluent for cardiovascular disease, Kevzara for rheumatoid arthritis, and other medicines such as Inmazeb, Evkeeza, Veopoz and Arcalyst.