Truist Financial Issues Pessimistic Forecast for Regeneron Pharmaceuticals (NASDAQ:REGN) Stock Price

Regeneron Pharmaceuticals (NASDAQ:REGN) had its target price cut by stock analysts at Truist Financial from $796.00 to $778.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s price objective points to a potential upside of 24.44% from the company’s previous close.

A number of other research analysts have also recently issued reports on REGN. Barclays decreased their price objective on shares of Regeneron Pharmaceuticals from $923.00 to $917.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. JPMorgan Chase & Co. decreased their price objective on shares of Regeneron Pharmaceuticals from $950.00 to $850.00 and set an “overweight” rating on the stock in a research note on Monday. Guggenheim lifted their price objective on shares of Regeneron Pharmaceuticals from $975.00 to $995.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Zacks Research cut shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Finally, Wall Street Zen raised shares of Regeneron Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $805.78.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN traded down $73.04 during mid-day trading on Monday, hitting $625.21. 1,682,692 shares of the company’s stock were exchanged, compared to its average volume of 761,386. Regeneron Pharmaceuticals has a 52 week low of $476.49 and a 52 week high of $821.11. The stock’s 50-day simple moving average is $744.69 and its 200-day simple moving average is $746.09. The firm has a market cap of $66.10 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 1.55 and a beta of 0.30. The company has a quick ratio of 2.96, a current ratio of 3.57 and a debt-to-equity ratio of 0.06.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 EPS for the quarter, topping the consensus estimate of $8.91 by $0.56. Regeneron Pharmaceuticals had a net margin of 29.65% and a return on equity of 13.16%. The company had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.48 billion. During the same period last year, the firm earned $8.22 earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, equities research analysts expect that Regeneron Pharmaceuticals will post 37.1 EPS for the current year.

Insiders Place Their Bets

In other Regeneron Pharmaceuticals news, Director Arthur F. Ryan sold 100 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $705.24, for a total transaction of $70,524.00. Following the sale, the director owned 17,503 shares of the company’s stock, valued at approximately $12,343,815.72. The trade was a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Huda Y. Zoghbi sold 1,638 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $781.33, for a total transaction of $1,279,818.54. Following the sale, the director directly owned 1,703 shares in the company, valued at approximately $1,330,604.99. The trade was a 49.03% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 6.97% of the company’s stock.

Institutional Trading of Regeneron Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of REGN. Brighton Jones LLC grew its stake in shares of Regeneron Pharmaceuticals by 261.8% during the fourth quarter. Brighton Jones LLC now owns 948 shares of the biopharmaceutical company’s stock worth $675,000 after buying an additional 686 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Regeneron Pharmaceuticals during the first quarter worth $226,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Regeneron Pharmaceuticals during the second quarter worth $3,183,000. Gabelli Funds LLC grew its stake in shares of Regeneron Pharmaceuticals by 3.0% during the second quarter. Gabelli Funds LLC now owns 1,863 shares of the biopharmaceutical company’s stock worth $978,000 after buying an additional 55 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Regeneron Pharmaceuticals by 18.8% during the second quarter. Sei Investments Co. now owns 32,341 shares of the biopharmaceutical company’s stock worth $16,985,000 after buying an additional 5,120 shares during the last quarter. Institutional investors own 83.31% of the company’s stock.

Regeneron Pharmaceuticals News Summary

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

• Negative Sentiment: Regeneron’s phase 3 melanoma trial for fianlimab missed its main goal, weakening confidence in a high-profile pipeline asset and contributing to analyst downgrades. Reuters article
• Neutral Sentiment: Citigroup reaffirmed its neutral rating on REGN but cut its price target to $700 from $900, signaling a more cautious valuation view. Tickerreport article
• Neutral Sentiment: Leerink Partners also reaffirmed a market perform rating and lowered its target to $641 from $792, reflecting reduced expectations after the trial setback. Benzinga article
• Positive Sentiment: Regeneron announced a strategic collaboration with Parabilis Medicines to develop novel antibody-Helicon conjugates, a pipeline-expanding deal that could eventually generate significant milestone payments and royalties. Yahoo Finance article

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc (NASDAQ: REGN) is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.