Regeneron Pharmaceuticals (NASDAQ:REGN) Given New $950.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Regeneron’s price target to $950 from $900 and maintained an “overweight” rating, implying 29.25% upside from the reported $735.01 share price.
• Analyst sentiment remained broadly positive, with MarketBeat reporting a consensus “Moderate Buy” rating and an average price target of $813.67; Guggenheim and HSBC also recently increased their targets.
• Regeneron reported quarterly results above expectations, including $14.29 in EPS versus a $10.16 estimate and $4.29 billion in revenue, up 16.7% year over year.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) had its price objective boosted by analysts at JPMorgan Chase & Co. from $900.00 to $950.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an "overweight" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 29.25% from the company's current price.

Several other research analysts also recently commented on REGN. Guggenheim raised their price objective on Regeneron Pharmaceuticals from $1,000.00 to $1,030.00 and gave the stock a "buy" rating in a research note on Monday, August 3rd. Benchmark raised shares of Regeneron Pharmaceuticals from a "hold" rating to a "buy" rating and set a $185.00 price target on the stock in a report on Tuesday, July 7th. HSBC increased their price objective on shares of Regeneron Pharmaceuticals from $800.00 to $920.00 and gave the stock a "buy" rating in a research note on Thursday, September 10th. Wells Fargo & Company boosted their price objective on Regeneron Pharmaceuticals from $700.00 to $750.00 and gave the company an "equal weight" rating in a research report on Friday, July 31st. Finally, Piper Sandler cut their target price on shares of Regeneron Pharmaceuticals from $855.00 to $854.00 and set an "overweight" rating for the company in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $813.67.

Regeneron Pharmaceuticals Stock Performance

NASDAQ REGN traded up $8.54 during trading hours on Tuesday, hitting $735.01. 123,123 shares of the company's stock traded hands, compared to its average volume of 826,113. Regeneron Pharmaceuticals has a 52 week low of $541.00 and a 52 week high of $859.34. The firm has a market capitalization of $75.68 billion, a P/E ratio of 18.10, a P/E/G ratio of 1.41 and a beta of 0.16. The company has a current ratio of 3.34, a quick ratio of 2.78 and a debt-to-equity ratio of 0.06. The business's fifty day moving average price is $789.48 and its two-hundred day moving average price is $720.45.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The biopharmaceutical company reported $14.29 earnings per share for the quarter, topping the consensus estimate of $10.16 by $4.13. Regeneron Pharmaceuticals had a net margin of 27.86% and a return on equity of 13.47%. The business had revenue of $4.29 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period last year, the firm earned $12.81 earnings per share. The company's quarterly revenue was up 16.7% on a year-over-year basis. Equities research analysts predict that Regeneron Pharmaceuticals will post 45.34 EPS for the current year.

Insider Activity

In other news, EVP Marion Mccourt sold 1,215 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $850.00, for a total transaction of $1,032,750.00. Following the transaction, the executive vice president directly owned 13,134 shares of the company's stock, valued at approximately $11,163,900. This trade represents a 8.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kathryn Guarini sold 400 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $850.00, for a total transaction of $340,000.00. Following the sale, the director directly owned 603 shares of the company's stock, valued at $512,550. This represents a 39.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 3,946 shares of company stock valued at $3,302,458. 6.97% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Regeneron Pharmaceuticals during the second quarter valued at approximately $5,682,636,000. Nuveen LLC raised its stake in Regeneron Pharmaceuticals by 71.1% in the fourth quarter. Nuveen LLC now owns 2,010,517 shares of the biopharmaceutical company's stock worth $1,551,858,000 after buying an additional 835,240 shares in the last quarter. Legal & General Group Plc purchased a new stake in Regeneron Pharmaceuticals during the second quarter worth $473,872,000. Bank of New York Mellon Corp bought a new stake in Regeneron Pharmaceuticals during the 2nd quarter valued at $472,950,000. Finally, Deutsche Bank AG bought a new stake in Regeneron Pharmaceuticals during the 2nd quarter valued at $323,249,000. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc is a biotechnology company that discovers, develops and commercializes medicines for serious medical conditions. The company uses human genetics, antibody technology and other biological research platforms to develop treatments in areas including eye diseases, cancer, cardiovascular and metabolic disorders, inflammatory diseases, infectious diseases and rare conditions.

Regeneron's marketed products include EYLEA and EYLEA HD for certain retinal diseases; Dupixent, developed and commercialized with Sanofi, for multiple allergic and inflammatory conditions; Libtayo for certain cancers; Praluent for high cholesterol; Kevzara for rheumatoid arthritis and other inflammatory diseases; Evkeeza for homozygous familial hypercholesterolemia; and Veopoz for a rare immune-mediated disorder.

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