Regeneron Pharmaceuticals (NASDAQ:REGN) Given New $920.00 Price Target at HSBC

Key Points

• HSBC raised its Regeneron price target to $920 from $800 and maintained a “buy” rating, implying 14.78% potential upside from the stock’s cited price.
• Analyst sentiment remains generally positive: 14 analysts rate REGN a Buy and 10 rate it a Hold, producing a consensus “Moderate Buy” rating and an $802.18 average target.
• Regeneron’s latest quarterly results exceeded expectations, with adjusted EPS of $14.29 versus $10.16 expected and revenue of $4.29 billion, up 16.7% year over year.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) had its price target hoisted by investment analysts at HSBC from $800.00 to $920.00 in a research note issued on Thursday, Benzinga reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. HSBC's price objective would suggest a potential upside of 14.78% from the stock's current price.

Several other research analysts have also issued reports on REGN. Canaccord Genuity Group lowered their target price on Regeneron Pharmaceuticals from $1,057.00 to $875.00 and set a "buy" rating for the company in a research report on Tuesday, May 19th. Benchmark upgraded Regeneron Pharmaceuticals from a "hold" rating to a "buy" rating and set a $185.00 price target on the stock in a research report on Tuesday, July 7th. Wall Street Zen raised Regeneron Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. Truist Financial lifted their price objective on Regeneron Pharmaceuticals from $769.00 to $772.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Morgan Stanley upped their target price on Regeneron Pharmaceuticals from $730.00 to $758.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. Fourteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $802.18.

Regeneron Pharmaceuticals Trading Down 0.8%

Shares of NASDAQ REGN opened at $801.51 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.78 and a current ratio of 3.34. Regeneron Pharmaceuticals has a 52-week low of $541.00 and a 52-week high of $859.34. The firm has a 50 day moving average price of $749.60 and a two-hundred day moving average price of $720.06. The stock has a market cap of $82.52 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.20.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $14.29 EPS for the quarter, topping analysts' consensus estimates of $10.16 by $4.13. Regeneron Pharmaceuticals had a net margin of 27.86% and a return on equity of 13.47%. The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same quarter in the previous year, the business earned $12.81 earnings per share. Regeneron Pharmaceuticals's revenue was up 16.7% compared to the same quarter last year. As a group, equities analysts forecast that Regeneron Pharmaceuticals will post 44.25 EPS for the current year.

Insiders Place Their Bets

In other news, Director Arthur Ryan sold 200 shares of Regeneron Pharmaceuticals stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $650.15, for a total value of $130,030.00. Following the completion of the transaction, the director directly owned 17,303 shares of the company's stock, valued at approximately $11,249,545.45. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathryn Guarini sold 400 shares of the business's stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $850.00, for a total value of $340,000.00. Following the completion of the transaction, the director directly owned 603 shares in the company, valued at $512,550. This represents a 39.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 4,146 shares of company stock valued at $3,432,488. Insiders own 6.97% of the company's stock.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in REGN. Brighton Jones LLC lifted its position in shares of Regeneron Pharmaceuticals by 261.8% during the 4th quarter. Brighton Jones LLC now owns 948 shares of the biopharmaceutical company's stock valued at $675,000 after acquiring an additional 686 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Regeneron Pharmaceuticals during the first quarter worth about $226,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Regeneron Pharmaceuticals in the second quarter valued at approximately $3,183,000. Gabelli Funds LLC lifted its stake in Regeneron Pharmaceuticals by 3.0% during the 2nd quarter. Gabelli Funds LLC now owns 1,863 shares of the biopharmaceutical company's stock valued at $978,000 after acquiring an additional 55 shares in the last quarter. Finally, Sei Investments Co. grew its position in Regeneron Pharmaceuticals by 18.8% in the 2nd 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 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 technologies involving genetics, antibodies and other biologic treatments to advance therapies in areas such as eye diseases, allergic and inflammatory conditions, cancer, cardiovascular disease and rare disorders.

Regeneron's marketed medicines include EYLEA and EYLEA HD for retinal diseases, Libtayo for certain cancers, Praluent for cardiovascular disease, Evkeeza for homozygous familial hypercholesterolemia and Veopoz for a rare immune disorder.

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