BMO Capital Markets Lowers Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target to $730.00

Regeneron Pharmaceuticals (NASDAQ:REGN) had its price target reduced by investment analysts at BMO Capital Markets from $900.00 to $730.00 in a report released on Monday,Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. BMO Capital Markets’ price objective indicates a potential upside of 16.07% from the stock’s current price.

REGN has been the topic of a number of other research reports. Leerink Partners reissued a “market perform” rating and issued a $641.00 target price (down from $792.00) on shares of Regeneron Pharmaceuticals in a research note on Monday. Morgan Stanley upped their target price on shares of Regeneron Pharmaceuticals from $769.00 to $796.00 and gave the company an “equal weight” rating in a research note on Friday, April 10th. Zacks Research cut shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Sanford C. Bernstein lowered their target price on shares of Regeneron Pharmaceuticals from $925.00 to $921.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 8th. Finally, Citigroup reissued a “neutral” rating and issued a $700.00 target price (down from $900.00) on shares of Regeneron Pharmaceuticals in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $800.57.

Regeneron Pharmaceuticals Price Performance

NASDAQ REGN traded down $69.34 on Monday, reaching $628.91. The company’s stock had a trading volume of 2,019,600 shares, compared to its average volume of 766,150. The firm has a market cap of $66.49 billion, a PE ratio of 15.32, a price-to-earnings-growth ratio of 1.55 and a beta of 0.30. The business has a 50-day moving average price of $744.69 and a 200 day moving average price of $746.09. Regeneron Pharmaceuticals has a 52 week low of $476.49 and a 52 week high of $821.11. The company has a current ratio of 3.57, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06.

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

Insider Transactions at Regeneron Pharmaceuticals

In other Regeneron Pharmaceuticals news, Director Huda Y. Zoghbi sold 1,638 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $781.33, for a total value of $1,279,818.54. Following the transaction, the director directly owned 1,703 shares in the company, valued at $1,330,604.99. The trade was a 49.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arthur F. Ryan sold 100 shares of the business’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $705.24, for a total transaction of $70,524.00. Following the completion of the transaction, the director owned 17,503 shares in the company, valued at approximately $12,343,815.72. This trade represents a 0.57% 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. 6.97% of the stock is owned by insiders.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

A number of large investors have recently modified their holdings of REGN. Brighton Jones LLC lifted its position 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 purchasing an additional 686 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Regeneron Pharmaceuticals during the first quarter worth approximately $226,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Regeneron Pharmaceuticals during the second quarter worth approximately $3,183,000. Gabelli Funds LLC lifted its position 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 purchasing an additional 55 shares in the last quarter. Finally, Sei Investments Co. lifted its position 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 purchasing an additional 5,120 shares in the last quarter. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Regeneron Pharmaceuticals

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

• Negative Sentiment: Regeneron’s phase 3 melanoma trial for fianlimab failed to hit its main goal, a major clinical setback that hurt confidence in the drug pipeline. Reuters article
• Negative Sentiment: Several Wall Street firms lowered price targets, including Citi, Leerink Partners, Wells Fargo, RBC, JPMorgan, Piper Sandler and Truist, reflecting reduced expectations after the trial miss. Benzinga report
• Neutral Sentiment: Regeneron announced a strategic collaboration with Parabilis Medicines to develop Antibody-Helicon™ Conjugates, a potentially important long-term pipeline expansion, but the deal is early-stage and unlikely to offset the immediate trial disappointment. GlobeNewswire release
• Positive Sentiment: Even after the cuts, multiple analysts still maintained bullish or constructive ratings, with targets still implying meaningful upside from current levels. Benzinga report

Regeneron Pharmaceuticals Company Profile

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.