Regeneron Pharmaceuticals (NASDAQ:REGN) Reaches New 1-Year High Following Better-Than-Expected Earnings

Key Points

• Regeneron beat quarterly expectations: EPS was $20.07 versus the $16.42 consensus, while revenue reached $5.12 billion compared with estimates of $4.56 billion. Revenue increased 36.3% year over year.
• Shares hit a new 52-week high of $876.40, up 12.9% from the prior close of $818.77, following the earnings report.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $847.90; institutional investors own 83.31% of the company.

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Get Free Report) shares reached a new 52-week high during mid-day trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $876.40 and last traded at $876.40, with a volume of 17,357 shares. The stock had previously closed at $818.77.

The biopharmaceutical company reported $20.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $16.42 by $3.65. The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $4.56 billion. Regeneron Pharmaceuticals had a net margin of 27.86% and a return on equity of 13.47%. The company's revenue was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $11.83 EPS.

Wall Street Analysts Forecast Growth

REGN has been the topic of several research reports. Citigroup boosted their price target on shares of Regeneron Pharmaceuticals from $700.00 to $740.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Piper Sandler boosted their target price on Regeneron Pharmaceuticals from $854.00 to $865.00 and gave the stock an "overweight" rating in a report on Monday, October 19th. TD Cowen upped their target price on shares of Regeneron Pharmaceuticals from $960.00 to $980.00 and gave the company a "buy" rating in a research note on Wednesday, October 21st. Truist Financial increased their price objective on shares of Regeneron Pharmaceuticals from $772.00 to $780.00 and gave the company a "buy" rating in a research note on Wednesday, October 7th. Finally, Evercore upped their target price on shares of Regeneron Pharmaceuticals from $825.00 to $850.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Regeneron Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $847.90.

Insider Activity at Regeneron Pharmaceuticals

In other Regeneron Pharmaceuticals news, Director Huda Y. Zoghbi sold 800 shares of Regeneron Pharmaceuticals stock in a transaction dated 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 owned 1,703 shares in the company, valued at $1,362,400. The trade was a 31.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andrew J. Murphy sold 4,147 shares of the firm's stock in a transaction on Wednesday, October 14th. The shares were sold at an average price of $772.70, for a total value of $3,204,386.90. Following the completion of the sale, the insider directly owned 47,833 shares in the company, valued at approximately $36,960,559.10. This represents a 7.98% 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. Over the last 90 days, insiders sold 8,093 shares of company stock valued at $6,506,845. 6.97% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in REGN. Western Wealth Management LLC bought a new position in shares of Regeneron Pharmaceuticals in the first quarter worth approximately $26,000. Armstrong Advisory Group Inc. raised its holdings in shares of Regeneron Pharmaceuticals by 466.7% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 34 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 28 shares in the last quarter. Trust Co. of Vermont bought a new position in Regeneron Pharmaceuticals during the second quarter valued at approximately $29,000. Mowery & Schoenfeld Wealth Management LLC purchased a new position in shares of Regeneron Pharmaceuticals during the second quarter worth approximately $29,000. Finally, Fiduciary Financial Advisors purchased a new position in shares of Regeneron Pharmaceuticals during the second quarter worth approximately $29,000. Institutional investors own 83.31% of the company's stock.

Regeneron Pharmaceuticals Trading Up 12.9%

The stock has a market capitalization of $95.21 billion, a P/E ratio of 22.79, a price-to-earnings-growth ratio of 1.37 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 stock's fifty day moving average price is $791.28 and its two-hundred day moving average price is $737.25.

Regeneron Pharmaceuticals Company Profile

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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