Regeneron Pharmaceuticals (NASDAQ:REGN) Given New $865.00 Price Target at Piper Sandler

Key Points

• Piper Sandler raised Regeneron’s price target from $854 to $865 and maintained an “overweight” rating, implying 10.69% upside from the reported $781.48 share price.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and average price target of $845.59; 23 analysts rate the stock Strong Buy or Buy, while eight assign a Hold rating.
• Regeneron reported strong quarterly results, including $14.29 adjusted EPS versus $10.16 expected and revenue of $4.29 billion, up 16.7% year over year. Shares were down 1.2% in Monday trading.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) had its target price hoisted by Piper Sandler from $854.00 to $865.00 in a report released on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the biopharmaceutical company's stock. Piper Sandler's price target would indicate a potential upside of 10.69% from the stock's current price.

A number of other analysts have also recently issued reports on REGN. JPMorgan Chase & Co. boosted their target price on Regeneron Pharmaceuticals from $900.00 to $950.00 and gave the stock an "overweight" rating in a report on Tuesday, October 6th. Truist Financial boosted their price objective on shares of Regeneron Pharmaceuticals from $772.00 to $780.00 and gave the stock a "buy" rating in a research note on Wednesday, October 7th. Citigroup increased their price objective on shares of Regeneron Pharmaceuticals from $700.00 to $740.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Weiss Ratings restated a "hold (c)" rating on shares of Regeneron Pharmaceuticals in a report on Monday, September 21st. Finally, Leerink Partners upped their price target on shares of Regeneron Pharmaceuticals from $641.00 to $824.00 and gave the stock a "market perform" rating in a research report on Monday, August 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Regeneron Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $845.59.

Regeneron Pharmaceuticals Trading Down 1.2%

Shares of REGN stock traded down $9.26 on Monday, reaching $781.48. 140,530 shares of the stock were exchanged, compared to its average volume of 818,103. The stock has a market cap of $80.46 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 1.37 and a beta of 0.16. The company has a quick ratio of 2.78, a current ratio of 3.34 and a debt-to-equity ratio of 0.06. The firm has a 50 day moving average of $791.72 and a two-hundred day moving average of $721.59. Regeneron Pharmaceuticals has a 1-year low of $572.75 and a 1-year high of $859.34.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last issued its earnings results on Thursday, July 30th. The biopharmaceutical company reported $14.29 earnings per share for the quarter, beating analysts' consensus estimates of $10.16 by $4.13. Regeneron Pharmaceuticals had a return on equity of 13.47% and a net margin of 27.86%. The firm had revenue of $4.29 billion for the quarter, compared to analysts' expectations of $3.82 billion. During the same quarter last year, the firm earned $12.81 earnings per share. The firm's revenue for the quarter was up 16.7% compared to the same quarter last year. On average, research analysts anticipate that Regeneron Pharmaceuticals will post 47.93 EPS for the current year.

Insider Activity

In related news, Director Huda Zoghbi sold 800 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $800.00, for a total transaction of $640,000.00. Following the completion of the sale, the director directly owned 1,703 shares of the company's stock, valued at approximately $1,362,400. This trade represents a 31.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marion Mccourt sold 1,215 shares of Regeneron Pharmaceuticals stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $850.00, for a total transaction of $1,032,750.00. Following the sale, the executive vice president directly owned 13,134 shares in the company, valued at $11,163,900. This trade represents a 8.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 8,093 shares of company stock valued at $6,506,845 over the last ninety days. 6.97% of the stock is owned by company insiders.

Institutional Trading of Regeneron Pharmaceuticals

Several large investors have recently modified their holdings of REGN. Orbimed Advisors LLC acquired a new stake in Regeneron Pharmaceuticals in the first quarter worth approximately $11,358,000. BlackRock Inc. bought a new position in Regeneron Pharmaceuticals during the 2nd quarter valued at $5,682,636,000. Contravisory Investment Management Inc. acquired a new position in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at $6,327,000. Oxbow Advisors LLC acquired a new position in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at $3,342,000. Finally, Deutsche Bank AG bought a new stake in shares of Regeneron Pharmaceuticals in the 2nd quarter worth $323,249,000. 83.31% of the stock is currently owned by institutional investors and hedge funds.

About Regeneron Pharmaceuticals

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.

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