Zacks Investment Research upgraded shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) from a sell rating to a hold rating in a research note published on Tuesday.
According to Zacks, “Regeneron’s third-quarter results were impressive as both earnings and sales beat estimates driven by strong Eylea’s sales. Eylea continues to perform well. Dupixent launch in the United States for moderate-to-severe atopic dermatitis is progressing well. The drug was also approved in Europe. The geographic expansion of the drug will further boost sales. Moreover, the company is also looking to expand Dupixent’s label in uncontrolled asthma. The approval of new drugs like Kevzara and Dupixent provide a significant boost to the top-line and reduce the company’s dependence on Eylea for growth. Prospects of PCSK9 inhibitors, a new class of cholesterol-lowering treatments with blockbuster potential, gained instant popularity even before hitting the market. Shares have outperformed the industry so far in 2017. However, sales of Praluent have failed to impress payer utilization management restrictions in the United States.”
REGN has been the topic of several other research reports. Morgan Stanley restated an equal weight rating and issued a $450.00 target price on shares of Regeneron Pharmaceuticals in a research note on Wednesday, August 23rd. Canaccord Genuity restated a buy rating on shares of Regeneron Pharmaceuticals in a research note on Monday, October 16th. Barclays PLC cut Regeneron Pharmaceuticals from an equal weight rating to an underweight rating and cut their target price for the company from $450.00 to $395.00 in a research note on Friday, October 20th. Oppenheimer Holdings, Inc. restated a hold rating on shares of Regeneron Pharmaceuticals in a research note on Wednesday, September 27th. Finally, Leerink Swann restated an outperform rating and issued a $580.00 target price (up previously from $573.00) on shares of Regeneron Pharmaceuticals in a research note on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Regeneron Pharmaceuticals currently has a consensus rating of Hold and a consensus target price of $475.34.
Regeneron Pharmaceuticals (NASDAQ:REGN) opened at $391.59 on Tuesday. Regeneron Pharmaceuticals has a 1-year low of $340.09 and a 1-year high of $543.55. The company has a current ratio of 3.63, a quick ratio of 3.07 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $42,410.00, a PE ratio of 33.32, a PEG ratio of 1.51 and a beta of 1.56.
Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings data on Wednesday, November 8th. The biopharmaceutical company reported $3.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.83 by $0.16. Regeneron Pharmaceuticals had a return on equity of 25.73% and a net margin of 23.17%. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the business posted $3.13 EPS. Regeneron Pharmaceuticals’s revenue for the quarter was up 23.0% on a year-over-year basis. analysts forecast that Regeneron Pharmaceuticals will post 13.55 earnings per share for the current fiscal year.
In other Regeneron Pharmaceuticals news, major shareholder Sanofi acquired 166,415 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average cost of $480.93 per share, for a total transaction of $80,033,965.95. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael S. Brown sold 1,500 shares of the company’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $475.00, for a total value of $712,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,460 shares of company stock valued at $29,143,390. Corporate insiders own 10.80% of the company’s stock.
Several hedge funds have recently made changes to their positions in REGN. Harding Loevner LP lifted its position in shares of Regeneron Pharmaceuticals by 589.2% during the 3rd quarter. Harding Loevner LP now owns 3,663,548 shares of the biopharmaceutical company’s stock worth $286,619,000 after buying an additional 3,131,966 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Regeneron Pharmaceuticals by 15,495.4% during the 2nd quarter. Janus Henderson Group PLC now owns 1,562,970 shares of the biopharmaceutical company’s stock worth $767,637,000 after buying an additional 1,552,948 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Regeneron Pharmaceuticals by 74.1% during the 2nd quarter. Jennison Associates LLC now owns 1,292,863 shares of the biopharmaceutical company’s stock worth $634,977,000 after buying an additional 550,247 shares during the last quarter. FMR LLC lifted its position in shares of Regeneron Pharmaceuticals by 6.3% during the 2nd quarter. FMR LLC now owns 7,039,884 shares of the biopharmaceutical company’s stock worth $3,457,569,000 after buying an additional 416,192 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. lifted its position in shares of Regeneron Pharmaceuticals by 500,446.2% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 325,355 shares of the biopharmaceutical company’s stock worth $145,472,000 after buying an additional 325,290 shares during the last quarter. Institutional investors and hedge funds own 67.80% of the company’s stock.
Regeneron Pharmaceuticals Company Profile
Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company commercializes medicines for eye diseases, high low-density lipoprotein (LDL) cholesterol, and an inflammatory condition and have product candidates in development in other areas, including rheumatoid arthritis, asthma, atopic dermatitis, pain, cancer, and infectious diseases.
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