Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target Raised to $824.00 at Leerink Partners

Key Points

• Leerink Partners raised Regeneron’s price target from $641 to $824 while maintaining a “market perform” rating, implying 2.55% upside from the prior close. Analysts overall assign the stock a “Moderate Buy” consensus rating with an average target of $801.70.
• Regeneron reported strong quarterly results, with earnings per share of $14.29 beating estimates of $10.16 and revenue of $4.29 billion exceeding forecasts of $3.82 billion. Revenue increased 16.7% year over year.
• The stock opened at $803.48, near its 52-week high of $821.11, with an $82.73 billion market capitalization. Institutional investors and hedge funds own approximately 83.31% of the company.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) had its price objective lifted by equities researchers at Leerink Partners from $641.00 to $824.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "market perform" rating on the biopharmaceutical company's stock. Leerink Partners' target price points to a potential upside of 2.55% from the company's previous close.

A number of other research firms have also recently issued reports on REGN. Cantor Fitzgerald boosted their target price on Regeneron Pharmaceuticals from $750.00 to $795.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Wall Street Zen raised Regeneron Pharmaceuticals from a "buy" rating to a "strong-buy" rating in a research note on Saturday. JPMorgan Chase & Co. dropped their target price on shares of Regeneron Pharmaceuticals from $950.00 to $850.00 and set an "overweight" rating on the stock in a report on Monday, May 18th. Morgan Stanley upped their price target on shares of Regeneron Pharmaceuticals from $730.00 to $758.00 and gave the company an "equal weight" rating in a report on Friday, July 31st. Finally, TD Cowen raised their price objective on shares of Regeneron Pharmaceuticals from $880.00 to $960.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Sixteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $801.70.

Regeneron Pharmaceuticals Price Performance

Regeneron Pharmaceuticals stock opened at $803.48 on Monday. The firm has a market capitalization of $82.73 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.37 and a beta of 0.21. The company's 50 day simple moving average is $675.79 and its 200 day simple moving average is $713.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.34 and a quick ratio of 2.78. Regeneron Pharmaceuticals has a fifty-two week low of $541.00 and a fifty-two week high of $821.11.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last posted its earnings results on Thursday, July 30th. The biopharmaceutical company reported $14.29 earnings per share for the quarter, topping the consensus estimate of $10.16 by $4.13. Regeneron Pharmaceuticals had a net margin of 27.86% and a return on equity of 13.47%. The company had revenue of $4.29 billion for the quarter, compared to analyst estimates of $3.82 billion. During the same period last year, the business posted $12.81 earnings per share. The business's revenue for the quarter was up 16.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Regeneron Pharmaceuticals will post 44.25 EPS for the current year.

Insider Activity at Regeneron Pharmaceuticals

In related news, Director Huda Y. Zoghbi sold 800 shares of the firm's stock in a transaction on 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 transaction, the director directly owned 1,703 shares of the company's stock, valued at approximately $1,362,400. This trade represents a 31.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Arthur F. Ryan sold 200 shares of the company's stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $650.15, for a total transaction of $130,030.00. Following the sale, 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 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. Over the last ninety days, insiders sold 1,400 shares of company stock valued at $1,090,030. Insiders own 6.97% of the company's stock.

Institutional Investors Weigh In On Regeneron Pharmaceuticals

Several hedge funds have recently bought and sold shares of REGN. Insigneo Advisory Services LLC boosted its position in Regeneron Pharmaceuticals by 3.0% during the fourth quarter. Insigneo Advisory Services LLC now owns 445 shares of the biopharmaceutical company's stock worth $343,000 after purchasing an additional 13 shares in the last quarter. Guardian Wealth Advisors LLC NC raised its stake in shares of Regeneron Pharmaceuticals by 3.3% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 443 shares of the biopharmaceutical company's stock worth $342,000 after buying an additional 14 shares during the period. Arjuna Capital lifted its position in shares of Regeneron Pharmaceuticals by 3.2% during the 1st quarter. Arjuna Capital now owns 457 shares of the biopharmaceutical company's stock valued at $353,000 after buying an additional 14 shares in the last quarter. TD Private Client Wealth LLC grew its stake in Regeneron Pharmaceuticals by 9.7% in the 4th quarter. TD Private Client Wealth LLC now owns 169 shares of the biopharmaceutical company's stock valued at $130,000 after acquiring an additional 15 shares during the period. Finally, MCF Advisors LLC increased its holdings in Regeneron Pharmaceuticals by 50.0% in the 4th quarter. MCF Advisors LLC now owns 45 shares of the biopharmaceutical company's stock worth $35,000 after acquiring an additional 15 shares in the last quarter. 83.31% of the stock is currently owned by institutional investors and hedge funds.

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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