BMO Capital Markets Lowers Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target to $730.00

Key Points

• BMO Capital Markets cut its price target on Regeneron Pharmaceuticals from $900 to $730, while keeping an outperform rating. The new target still implies about 16% upside from the prior close.
• The stock fell sharply, dropping 9.9% to $628.91 on heavy trading volume after the update and broader analyst target reductions. Regeneron now trades below both its 50-day and 200-day moving averages.
• Despite the downgrade pressure, Regeneron’s latest quarterly results were solid, with EPS of $9.47 beating estimates and revenue of $3.61 billion topping forecasts. Analyst sentiment remains mixed but generally constructive, with a Moderate Buy consensus and an average price target of $800.57.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) had its price objective dropped by research analysts at BMO Capital Markets from $900.00 to $730.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the biopharmaceutical company's stock. BMO Capital Markets' target price points to a potential upside of 16.07% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Evercore boosted their price target on shares of Regeneron Pharmaceuticals from $750.00 to $875.00 and gave the company an "outperform" rating in a report on Thursday, January 22nd. Piper Sandler lowered their price target on shares of Regeneron Pharmaceuticals from $875.00 to $855.00 and set an "overweight" rating on the stock in a report on Monday. Zacks Research cut shares of Regeneron Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Friday, February 6th. Morgan Stanley lifted their price objective on shares of Regeneron Pharmaceuticals from $769.00 to $796.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Regeneron Pharmaceuticals from $950.00 to $850.00 and set an "overweight" rating for the company in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $800.57.

Regeneron Pharmaceuticals Stock Down 9.9%

Shares of Regeneron Pharmaceuticals stock traded down $69.34 on Monday, hitting $628.91. 2,019,600 shares of the company traded hands, compared to its average volume of 766,150. The company has a 50-day moving average price of $744.69 and a 200 day moving average price of $746.09. The company has a quick ratio of 2.96, a current ratio of 3.57 and a debt-to-equity ratio of 0.06. Regeneron Pharmaceuticals has a 12-month low of $476.49 and a 12-month high of $821.11. The company has a market cap of $66.49 billion, a PE ratio of 15.32, a PEG ratio of 1.55 and a beta of 0.30.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 EPS for the quarter, beating the consensus estimate of $8.91 by $0.56. Regeneron Pharmaceuticals had a net margin of 29.65% and a return on equity of 13.16%. The business had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.48 billion. During the same period in the previous year, the company posted $8.22 EPS. Regeneron Pharmaceuticals's revenue was up 19.0% on a year-over-year basis. Sell-side analysts predict that Regeneron Pharmaceuticals will post 37.1 earnings per share for the current year.

Insider Buying and Selling at Regeneron Pharmaceuticals

In related news, Director Huda Y. Zoghbi sold 1,638 shares of Regeneron Pharmaceuticals stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $781.33, for a total value of $1,279,818.54. Following the transaction, the director owned 1,703 shares in the company, valued at $1,330,604.99. This trade represents a 49.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Arthur F. Ryan sold 100 shares of Regeneron Pharmaceuticals stock in a transaction on Friday, May 1st. The stock was sold at an average price of $705.24, for a total transaction of $70,524.00. Following the completion of the transaction, the director owned 17,503 shares in the company, valued at $12,343,815.72. This trade represents a 0.57% 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. 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. WPG Advisers LLC raised its holdings in Regeneron Pharmaceuticals by 312.5% in the 4th quarter. WPG Advisers LLC now owns 33 shares of the biopharmaceutical company's stock worth $25,000 after acquiring an additional 25 shares during the period. SHP Wealth Management bought a new stake in shares of Regeneron Pharmaceuticals in the fourth quarter valued at about $26,000. Titan Wealth CI Ltd bought a new stake in shares of Regeneron Pharmaceuticals in the fourth quarter valued at about $29,000. Board of the Pension Protection Fund bought a new stake in shares of Regeneron Pharmaceuticals in the fourth quarter valued at about $31,000. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of Regeneron Pharmaceuticals in the fourth quarter valued at about $31,000. Institutional investors own 83.31% of the company's stock.

Key Stories Impacting Regeneron Pharmaceuticals

Here are the key news stories impacting Regeneron Pharmaceuticals this week:

• Negative Sentiment: Regeneron’s phase 3 melanoma trial for fianlimab failed to hit its main goal, a major clinical setback that hurt confidence in the drug pipeline. Reuters article
• Negative Sentiment: Several Wall Street firms lowered price targets, including Citi, Leerink Partners, Wells Fargo, RBC, JPMorgan, Piper Sandler and Truist, reflecting reduced expectations after the trial miss. Benzinga report
• Neutral Sentiment: Regeneron announced a strategic collaboration with Parabilis Medicines to develop Antibody-Helicon™ Conjugates, a potentially important long-term pipeline expansion, but the deal is early-stage and unlikely to offset the immediate trial disappointment. GlobeNewswire release
• Positive Sentiment: Even after the cuts, multiple analysts still maintained bullish or constructive ratings, with targets still implying meaningful upside from current levels. Benzinga report

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc NASDAQ: REGN is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.

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