Regeneron Pharmaceuticals (NASDAQ:REGN) Given New $850.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan cut Regeneron’s price target to $850 from $950 but kept an overweight rating, implying about 35% upside from the previous close.
• Regeneron shares fell sharply to $627.55 on the day, well below the new target and its recent trading averages, even as analysts still largely view the stock favorably.
• The company recently beat quarterly earnings and revenue estimates, but investor sentiment has been pressured by news that a phase 3 melanoma trial for fianlimab missed its main goal.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $950.00 to $850.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has an "overweight" rating on the biopharmaceutical company's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 35.45% from the company's previous close.

REGN has been the subject of several other research reports. Citigroup restated a "neutral" rating and issued a $700.00 target price (down from $900.00) on shares of Regeneron Pharmaceuticals in a research report on Monday. Truist Financial decreased their price objective on shares of Regeneron Pharmaceuticals from $801.00 to $796.00 and set a "buy" rating for the company in a report on Thursday, April 30th. Sanford C. Bernstein decreased their price objective on shares of Regeneron Pharmaceuticals from $925.00 to $921.00 and set an "outperform" rating for the company in a report on Wednesday, April 8th. TD Cowen increased their price objective on shares of Regeneron Pharmaceuticals from $880.00 to $960.00 and gave the company a "buy" rating in a report on Thursday, April 23rd. Finally, Oppenheimer reiterated an "outperform" rating and issued a $865.00 price objective (up from $750.00) on shares of Regeneron Pharmaceuticals in a report on Monday, February 2nd. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $806.57.

Regeneron Pharmaceuticals Stock Performance

NASDAQ REGN traded down $70.70 on Monday, hitting $627.55. The stock had a trading volume of 1,285,565 shares, compared to its average volume of 757,008. Regeneron Pharmaceuticals has a one year low of $476.49 and a one year high of $821.11. The company has a quick ratio of 2.96, a current ratio of 3.57 and a debt-to-equity ratio of 0.06. The stock has a market cap of $66.34 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 1.55 and a beta of 0.30. The company's 50-day moving average is $744.69 and its two-hundred day moving average is $746.09.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last posted its earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 EPS for the quarter, topping 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 firm had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.48 billion. During the same quarter in the prior year, the firm earned $8.22 EPS. Regeneron Pharmaceuticals's quarterly revenue was up 19.0% on a year-over-year basis. On average, analysts expect that Regeneron Pharmaceuticals will post 37.1 earnings per share for the current year.

Insider Activity at Regeneron Pharmaceuticals

In related news, Director Huda Y. Zoghbi sold 1,638 shares of the stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $781.33, for a total transaction of $1,279,818.54. Following the completion of the sale, the director directly owned 1,703 shares of the company's stock, valued at $1,330,604.99. This represents a 49.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arthur F. Ryan sold 100 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $705.24, for a total transaction of $70,524.00. Following the sale, the director directly owned 17,503 shares of the company's stock, valued at approximately $12,343,815.72. This represents a 0.57% 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. 6.97% of the stock is owned by corporate insiders.

Institutional Trading of Regeneron Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in REGN. Vanguard Group Inc. lifted its position in shares of Regeneron Pharmaceuticals by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 9,075,153 shares of the biopharmaceutical company's stock valued at $7,004,838,000 after acquiring an additional 26,884 shares in the last quarter. Dodge & Cox lifted its position in shares of Regeneron Pharmaceuticals by 1.0% in the 4th quarter. Dodge & Cox now owns 4,596,358 shares of the biopharmaceutical company's stock valued at $3,547,791,000 after acquiring an additional 45,513 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Regeneron Pharmaceuticals by 4.4% in the 4th quarter. Franklin Resources Inc. now owns 2,560,004 shares of the biopharmaceutical company's stock valued at $1,975,990,000 after acquiring an additional 106,861 shares in the last quarter. Nuveen LLC lifted its position in shares of Regeneron Pharmaceuticals by 71.1% in the 4th quarter. Nuveen LLC now owns 2,010,517 shares of the biopharmaceutical company's stock valued at $1,551,858,000 after acquiring an additional 835,240 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of Regeneron Pharmaceuticals by 1.6% in the 3rd quarter. Capital World Investors now owns 1,998,366 shares of the biopharmaceutical company's stock valued at $1,123,609,000 after acquiring an additional 32,348 shares in the last quarter. 83.31% of the stock is owned by institutional investors and hedge funds.

Regeneron Pharmaceuticals News Roundup

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

• Negative Sentiment: Regeneron’s phase 3 melanoma trial for fianlimab missed its main goal, weakening confidence in a high-profile pipeline asset and contributing to analyst downgrades. Reuters article
• Neutral Sentiment: Citigroup reaffirmed its neutral rating on REGN but cut its price target to $700 from $900, signaling a more cautious valuation view. Tickerreport article
• Neutral Sentiment: Leerink Partners also reaffirmed a market perform rating and lowered its target to $641 from $792, reflecting reduced expectations after the trial setback. Benzinga article
• Positive Sentiment: Regeneron announced a strategic collaboration with Parabilis Medicines to develop novel antibody-Helicon conjugates, a pipeline-expanding deal that could eventually generate significant milestone payments and royalties. Yahoo Finance article

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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