Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target Raised to $1,000.00

Key Points

• Guggenheim raised Regeneron’s price target from $995 to $1,000 while keeping a buy rating, implying about 47.8% upside from the prior close.
• The stock was up 0.6% to $676.40 on Tuesday, and the broader analyst view remains Moderate Buy with a consensus target price of $787.88.
• Regeneron recently reported strong quarterly results, with EPS of $9.47 beating estimates and revenue rising 19% year over year to $3.61 billion.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) had its price target hoisted by equities research analysts at Guggenheim from $995.00 to $1,000.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the biopharmaceutical company's stock. Guggenheim's price objective suggests a potential upside of 47.84% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings restated a "hold (c)" rating on shares of Regeneron Pharmaceuticals in a research note on Wednesday, June 24th. Wall Street Zen downgraded shares of Regeneron Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, July 4th. JPMorgan Chase & Co. lowered their target price on shares of Regeneron Pharmaceuticals from $950.00 to $850.00 and set an "overweight" rating for the company in a report on Monday, May 18th. Canaccord Genuity Group dropped their target price on shares of Regeneron Pharmaceuticals from $1,057.00 to $875.00 and set a "buy" rating on the stock in a research report on Tuesday, May 19th. Finally, Sanford C. Bernstein cut their price target on shares of Regeneron Pharmaceuticals from $925.00 to $921.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $787.88.

Regeneron Pharmaceuticals Stock Up 0.6%

NASDAQ:REGN traded up $4.25 during trading hours on Tuesday, hitting $676.40. The company's stock had a trading volume of 48,840 shares, compared to its average volume of 850,427. Regeneron Pharmaceuticals has a 52-week low of $541.00 and a 52-week high of $821.11. The company has a current ratio of 3.57, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $71.51 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 1.50 and a beta of 0.24. The stock has a fifty day moving average of $640.18 and a 200-day moving average of $717.26.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $8.91 by $0.56. Regeneron Pharmaceuticals had a return on equity of 13.16% and a net margin of 29.65%.The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the previous year, the business earned $8.22 EPS. Regeneron Pharmaceuticals's revenue for the quarter was up 19.0% on a year-over-year basis. On average, equities analysts forecast that Regeneron Pharmaceuticals will post 37.12 earnings per share for the current year.

Insider Buying and Selling at Regeneron Pharmaceuticals

In related news, Director Arthur F. Ryan sold 200 shares of Regeneron Pharmaceuticals stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $650.15, for a total value of $130,030.00. Following the transaction, the director directly owned 17,303 shares in the company, valued at $11,249,545.45. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.97% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Regeneron Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC increased its position in Regeneron Pharmaceuticals by 20.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 47,775 shares of the biopharmaceutical company's stock worth $29,790,000 after purchasing an additional 8,063 shares during the period. Insight Wealth Strategies LLC lifted its holdings in Regeneron Pharmaceuticals by 26.9% in the second quarter. Insight Wealth Strategies LLC now owns 8,734 shares of the biopharmaceutical company's stock valued at $5,456,000 after acquiring an additional 1,850 shares during the period. Tema ETFs LLC lifted its holdings in Regeneron Pharmaceuticals by 2.3% in the second quarter. Tema ETFs LLC now owns 5,481 shares of the biopharmaceutical company's stock valued at $3,418,000 after acquiring an additional 121 shares during the period. E. Ohman J or Asset Management AB boosted its position in shares of Regeneron Pharmaceuticals by 35.2% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 3,840 shares of the biopharmaceutical company's stock worth $2,394,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Harrell Investment Partners LLC boosted its position in shares of Regeneron Pharmaceuticals by 1.3% during the 2nd quarter. Harrell Investment Partners LLC now owns 2,089 shares of the biopharmaceutical company's stock worth $1,303,000 after purchasing an additional 27 shares in the last quarter. Institutional investors and hedge funds own 83.31% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.