Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target Lowered to $700.00 at Wells Fargo & Company

Key Points

• Wells Fargo cut Regeneron Pharmaceuticals’ price target to $700 from $800 while keeping an equal weight rating, implying about 12.5% upside from the prior close.
• The stock was down 10.9% to $622.27 on heavier-than-average volume, reflecting a sharp market reaction to the downgrade and broader caution around the shares.
• Regeneron’s latest quarterly results were solid, with EPS of $9.47 and revenue of $3.61 billion both beating estimates, even as analysts’ views remain mixed with a consensus Moderate Buy and average target of $810.91.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) had its price target decreased by equities researchers at Wells Fargo & Company from $800.00 to $700.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the biopharmaceutical company's stock. Wells Fargo & Company's target price would suggest a potential upside of 12.49% from the stock's previous close.

Several other research firms have also issued reports on REGN. Zacks Research lowered Regeneron Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 6th. Sanford C. Bernstein dropped their price objective on Regeneron Pharmaceuticals from $925.00 to $921.00 and set an "outperform" rating for the company in a research note on Wednesday, April 8th. Citigroup restated a "neutral" rating and issued a $700.00 target price (down from $900.00) on shares of Regeneron Pharmaceuticals in a report on Monday. TD Cowen upped their price target 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, Cantor Fitzgerald reissued an "overweight" rating and set a $800.00 price target on shares of Regeneron Pharmaceuticals in a research report on Thursday, April 23rd. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat.com, Regeneron Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $810.91.

Regeneron Pharmaceuticals Trading Down 10.9%

NASDAQ:REGN traded down $75.98 during trading hours on Monday, reaching $622.27. The company's stock had a trading volume of 1,009,300 shares, compared to its average volume of 753,718. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.96 and a current ratio of 3.57. The firm has a market capitalization of $65.79 billion, a price-to-earnings ratio of 15.23, a PEG ratio of 1.55 and a beta of 0.30. The firm has a 50-day simple moving average of $744.69 and a 200-day simple moving average of $746.09. Regeneron Pharmaceuticals has a 1 year low of $476.49 and a 1 year high of $821.11.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.91 by $0.56. The firm had revenue of $3.61 billion for the quarter, compared to analysts' expectations of $3.48 billion. Regeneron Pharmaceuticals had a return on equity of 13.16% and a net margin of 29.65%.The company's revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the firm earned $8.22 earnings per share. Research analysts expect that Regeneron Pharmaceuticals will post 37.1 EPS for the current fiscal year.

Insider Buying and Selling at Regeneron Pharmaceuticals

In other news, Director Huda Y. Zoghbi sold 1,638 shares of the firm's stock in a transaction dated 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 completion of the sale, the director directly owned 1,703 shares of the company's stock, valued at approximately $1,330,604.99. This trade represents a 49.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arthur F. Ryan sold 100 shares of the business's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $705.24, for a total transaction of $70,524.00. Following the transaction, the director owned 17,503 shares in the company, valued at $12,343,815.72. This 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. Insiders own 6.97% of the company's stock.

Institutional Trading of Regeneron Pharmaceuticals

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Regeneron Pharmaceuticals by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 9,075,153 shares of the biopharmaceutical company's stock worth $7,004,838,000 after purchasing an additional 26,884 shares in the last quarter. Dodge & Cox boosted its holdings in shares of Regeneron Pharmaceuticals by 1.0% during the 4th quarter. Dodge & Cox now owns 4,596,358 shares of the biopharmaceutical company's stock valued at $3,547,791,000 after buying an additional 45,513 shares in the last quarter. Franklin Resources Inc. grew 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 worth $1,975,990,000 after buying an additional 106,861 shares during the period. Nuveen LLC increased its stake 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 worth $1,551,858,000 after acquiring an additional 835,240 shares in the last quarter. Finally, Capital World Investors increased its stake 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 worth $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.

More Regeneron Pharmaceuticals News

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

Regeneron Pharmaceuticals Company Profile

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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