Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target Raised to $922.00

Key Points

• Canaccord Genuity raised Regeneron’s price target to $922 from $875 and maintained a “buy” rating, implying 13.37% upside from the reported $813.27 share price.
• Analyst sentiment is broadly positive: Regeneron has an average “Moderate Buy” rating and a consensus price target of $847.90, with several firms recently raising their targets.
• Regeneron reported quarterly EPS of $14.29, exceeding estimates by $4.13, while revenue reached $4.29 billion and increased 16.7% year over year.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) had its price objective hoisted by research analysts at Canaccord Genuity Group from $875.00 to $922.00 in a report released on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. Canaccord Genuity Group's target price would suggest a potential upside of 13.37% from the company's current price.

REGN has been the subject of several other reports. UBS Group raised Regeneron Pharmaceuticals from a "neutral" rating to a "buy" rating and increased their price target for the company from $660.00 to $978.00 in a research report on Thursday, October 15th. Guggenheim raised their price target on Regeneron Pharmaceuticals from $1,000.00 to $1,030.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Jefferies Financial Group boosted their price target on Regeneron Pharmaceuticals from $870.00 to $930.00 and gave the stock a "buy" rating in a research report on Thursday, October 1st. Morgan Stanley upped their price objective on Regeneron Pharmaceuticals from $758.00 to $779.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 7th. Finally, Piper Sandler increased their price objective on Regeneron Pharmaceuticals from $854.00 to $865.00 and gave the company an "overweight" rating in a report on Monday, October 19th. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $847.90.

Regeneron Pharmaceuticals Stock Down 0.3%

REGN stock traded down $2.83 during midday trading on Wednesday, hitting $813.27. The company's stock had a trading volume of 535,599 shares, compared to its average volume of 812,805. The company's fifty day moving average price is $791.66 and its 200 day moving average price is $737.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.34 and a quick ratio of 2.78. Regeneron Pharmaceuticals has a twelve month low of $591.52 and a twelve month high of $859.34. The stock has a market capitalization of $83.73 billion, a P/E ratio of 20.10, a PEG ratio of 1.36 and a beta of 0.16.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The biopharmaceutical company reported $14.29 EPS for the quarter, topping analysts' consensus estimates of $10.16 by $4.13. The company had revenue of $4.29 billion during the quarter, compared to the consensus estimate of $3.82 billion. Regeneron Pharmaceuticals had a net margin of 27.86% and a return on equity of 13.47%. The company's quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the prior year, the business posted $12.81 EPS. As a group, equities research analysts predict that Regeneron Pharmaceuticals will post 49.10 EPS for the current year.

Insiders Place Their Bets

In other news, Director Kathryn Guarini sold 400 shares of the firm's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $850.00, for a total value of $340,000.00. Following the completion of the sale, the director directly owned 603 shares of the company's stock, valued at $512,550. This trade represents a 39.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Huda Y. Zoghbi sold 800 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $800.00, for a total value 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. The trade was a 31.96% 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. Insiders sold 8,093 shares of company stock worth $6,506,845 in the last three months. 6.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. LCM Capital Management Inc raised its position in shares of Regeneron Pharmaceuticals by 2.2% in the third quarter. LCM Capital Management Inc now owns 616 shares of the biopharmaceutical company's stock valued at $467,000 after purchasing an additional 13 shares during the period. Arjuna Capital lifted its position in shares of Regeneron Pharmaceuticals by 3.2% during the 1st quarter. Arjuna Capital now owns 457 shares of the biopharmaceutical company's stock valued at $353,000 after acquiring an additional 14 shares during the period. Oakworth Capital Inc. grew its holdings in shares of Regeneron Pharmaceuticals by 25.0% during the 3rd quarter. Oakworth Capital Inc. now owns 70 shares of the biopharmaceutical company's stock worth $53,000 after purchasing an additional 14 shares in the last quarter. Boyd Watterson Asset Management LLC OH grew its holdings in shares of Regeneron Pharmaceuticals by 1.4% during the 1st quarter. Boyd Watterson Asset Management LLC OH now owns 1,087 shares of the biopharmaceutical company's stock worth $840,000 after purchasing an additional 15 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its stake in Regeneron Pharmaceuticals by 1.8% during the first quarter. Geneos Wealth Management Inc. now owns 835 shares of the biopharmaceutical company's stock worth $645,000 after buying an additional 15 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 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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