Regeneron Pharmaceuticals (NASDAQ:REGN) Receives Buy Rating from Canaccord Genuity Group

Key Points

• Regeneron Pharmaceuticals' stock received a reaffirmed "buy" rating and a price target of $850.00 from Canaccord Genuity Group, suggesting a potential upside of 49.85% from its previous close.
• Multiple analysts have indicated varying price targets for the stock, with a consensus price target currently sitting at $817.88 and a majority rating it as a "Moderate Buy."
• The company reported $12.89 earnings per share in its last quarterly earnings, significantly exceeding the consensus estimate of $8.43, alongside a revenue of $3.68 billion.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report)'s stock had its "buy" rating reaffirmed by research analysts at Canaccord Genuity Group in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $850.00 price objective on the biopharmaceutical company's stock. Canaccord Genuity Group's target price would suggest a potential upside of 49.85% from the stock's previous close.

A number of other analysts have also issued reports on the stock. Sanford C. Bernstein boosted their price target on shares of Regeneron Pharmaceuticals from $753.00 to $781.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 27th. Truist Financial cut their price target on shares of Regeneron Pharmaceuticals from $940.00 to $812.00 and set a "buy" rating on the stock in a research note on Monday, August 11th. Morgan Stanley cut their price target on shares of Regeneron Pharmaceuticals from $761.00 to $756.00 and set an "overweight" rating on the stock in a research note on Friday. Guggenheim upped their target price on shares of Regeneron Pharmaceuticals from $810.00 to $815.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Regeneron Pharmaceuticals in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $817.88.

Regeneron Pharmaceuticals Trading Up 1.7%

REGN traded up $9.50 on Tuesday, hitting $567.23. The company had a trading volume of 103,681 shares, compared to its average volume of 1,102,379. The firm has a market cap of $60.12 billion, a P/E ratio of 14.28, a PEG ratio of 1.80 and a beta of 0.31. Regeneron Pharmaceuticals has a 1 year low of $476.49 and a 1 year high of $1,024.36. The company's fifty day moving average price is $573.67 and its 200 day moving average price is $563.46. The company has a current ratio of 4.60, a quick ratio of 3.72 and a debt-to-equity ratio of 0.09.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last issued its quarterly earnings data on Friday, August 1st. The biopharmaceutical company reported $12.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.43 by $4.46. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.30 billion. Regeneron Pharmaceuticals had a net margin of 31.37% and a return on equity of 15.06%. Regeneron Pharmaceuticals's revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $11.56 EPS. As a group, equities analysts expect that Regeneron Pharmaceuticals will post 35.92 earnings per share for the current year.

Institutional Investors Weigh In On Regeneron Pharmaceuticals

Large investors have recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Regeneron Pharmaceuticals by 344.4% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 40 shares of the biopharmaceutical company's stock valued at $25,000 after acquiring an additional 31 shares during the period. Activest Wealth Management lifted its holdings in shares of Regeneron Pharmaceuticals by 110.5% during the first quarter. Activest Wealth Management now owns 40 shares of the biopharmaceutical company's stock worth $25,000 after purchasing an additional 21 shares during the period. Costello Asset Management INC purchased a new position in Regeneron Pharmaceuticals in the first quarter worth $27,000. Saudi Central Bank purchased a new position in Regeneron Pharmaceuticals in the first quarter worth $27,000. Finally, Colonial Trust Advisors purchased a new position in Regeneron Pharmaceuticals in the first quarter worth $32,000. 83.31% of the stock is owned by institutional investors and hedge funds.

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.

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