Canaccord Genuity Group Reaffirms Buy Rating for Regeneron Pharmaceuticals (NASDAQ:REGN)

Key Points

• Canaccord Genuity Group has reaffirmed a buy rating for Regeneron Pharmaceuticals (NASDAQ:REGN) and set a price target of $850.00, indicating a potential upside of 45.36% from its current price.
• The stock has an average rating of Moderate Buy from analysts, with 18 Buy ratings and a consensus price target of $817.88.
• In its latest quarter, Regeneron reported earnings of $12.89 per share, significantly exceeding analyst expectations and demonstrating a 3.6% year-over-year revenue increase.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Canaccord Genuity Group in a research note issued to investors on Thursday,Benzinga reports. They presently have a $850.00 price objective on the biopharmaceutical company's stock. Canaccord Genuity Group's price target indicates a potential upside of 45.36% from the stock's current price.

REGN has been the topic of several other reports. Morgan Stanley decreased their price objective on shares of Regeneron Pharmaceuticals from $761.00 to $756.00 and set an "overweight" rating on the stock in a report on Friday, October 10th. Truist Financial decreased their price objective on shares of Regeneron Pharmaceuticals from $940.00 to $812.00 and set a "buy" rating on the stock in a report on Monday, August 11th. Jefferies Financial Group upped their price objective on shares of Regeneron Pharmaceuticals from $813.00 to $831.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Raymond James Financial upgraded shares of Regeneron Pharmaceuticals to a "moderate buy" rating in a report on Tuesday, September 2nd. Finally, BMO Capital Markets upped their price objective on shares of Regeneron Pharmaceuticals from $600.00 to $640.00 and gave the stock an "outperform" rating in a report on Monday, August 4th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $817.88.

Regeneron Pharmaceuticals Stock Performance

NASDAQ:REGN opened at $584.74 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.60 and a quick ratio of 3.72. The firm has a market capitalization of $61.98 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.81 and a beta of 0.31. The company's 50-day moving average is $576.17 and its two-hundred day moving average is $562.42. Regeneron Pharmaceuticals has a 1-year low of $476.49 and a 1-year high of $959.60.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last posted its earnings results on Friday, August 1st. The biopharmaceutical company reported $12.89 earnings per share for the quarter, beating the consensus estimate of $8.43 by $4.46. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.30 billion. Regeneron Pharmaceuticals had a net margin of 31.37% and a return on equity of 15.06%. Regeneron Pharmaceuticals's revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $11.56 EPS. Analysts forecast that Regeneron Pharmaceuticals will post 35.92 EPS for the current year.

Institutional Investors Weigh In On Regeneron Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Regeneron Pharmaceuticals by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 9,407,891 shares of the biopharmaceutical company's stock valued at $5,966,767,000 after purchasing an additional 121,545 shares during the last quarter. State Street Corp increased its position in shares of Regeneron Pharmaceuticals by 0.9% in the 2nd quarter. State Street Corp now owns 4,832,002 shares of the biopharmaceutical company's stock valued at $2,536,801,000 after purchasing an additional 42,343 shares during the last quarter. Dodge & Cox increased its position in shares of Regeneron Pharmaceuticals by 64.6% in the 2nd quarter. Dodge & Cox now owns 3,826,283 shares of the biopharmaceutical company's stock valued at $2,008,799,000 after purchasing an additional 1,502,198 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Regeneron Pharmaceuticals by 1.6% in the 2nd quarter. Franklin Resources Inc. now owns 2,313,496 shares of the biopharmaceutical company's stock valued at $1,214,585,000 after purchasing an additional 36,821 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Regeneron Pharmaceuticals by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,175,026 shares of the biopharmaceutical company's stock valued at $1,379,467,000 after purchasing an additional 89,579 shares during the last quarter. 83.31% of the stock is owned by hedge funds and other institutional investors.

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.

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