Regeneron Pharmaceuticals (NASDAQ:REGN) Shares Gap Down on Disappointing Earnings

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Get Free Report)'s stock price gapped down before the market opened on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $610.86, but opened at $561.75. Regeneron Pharmaceuticals shares last traded at $558.22, with a volume of 229,725 shares changing hands.

The biopharmaceutical company reported $8.22 earnings per share for the quarter, missing the consensus estimate of $8.83 by ($0.61). Regeneron Pharmaceuticals had a net margin of 31.07% and a return on equity of 16.32%. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.40 billion. During the same period in the previous year, the firm posted $9.55 earnings per share. The business's revenue was down 3.7% compared to the same quarter last year.

Regeneron Pharmaceuticals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Tuesday, May 20th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Tuesday, May 20th. Regeneron Pharmaceuticals's dividend payout ratio (DPR) is 8.96%.

Wall Street Analyst Weigh In

Several research firms have recently commented on REGN. BMO Capital Markets reduced their price target on shares of Regeneron Pharmaceuticals from $865.00 to $800.00 and set an "outperform" rating for the company in a research report on Wednesday. Cantor Fitzgerald began coverage on shares of Regeneron Pharmaceuticals in a research report on Tuesday, April 22nd. They set an "overweight" rating and a $695.00 price objective for the company. UBS Group decreased their target price on Regeneron Pharmaceuticals from $768.00 to $633.00 and set a "neutral" rating on the stock in a report on Wednesday. The Goldman Sachs Group cut their price target on Regeneron Pharmaceuticals from $917.00 to $804.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Leerink Partners raised Regeneron Pharmaceuticals from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $762.00 to $834.00 in a research note on Wednesday, February 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $892.60.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

A number of large investors have recently bought and sold shares of the business. Concord Wealth Partners increased its stake in Regeneron Pharmaceuticals by 58.6% in the 1st quarter. Concord Wealth Partners now owns 2,001 shares of the biopharmaceutical company's stock worth $1,269,000 after buying an additional 739 shares during the period. Grandfield & Dodd LLC increased its position in shares of Regeneron Pharmaceuticals by 1.9% during the first quarter. Grandfield & Dodd LLC now owns 33,207 shares of the biopharmaceutical company's stock worth $21,061,000 after acquiring an additional 611 shares during the period. Cullen Frost Bankers Inc. raised its stake in shares of Regeneron Pharmaceuticals by 8.9% during the first quarter. Cullen Frost Bankers Inc. now owns 6,868 shares of the biopharmaceutical company's stock valued at $4,356,000 after acquiring an additional 561 shares in the last quarter. Bryn Mawr Capital Management LLC purchased a new stake in shares of Regeneron Pharmaceuticals in the first quarter valued at approximately $203,000. Finally, Tectonic Advisors LLC increased its holdings in Regeneron Pharmaceuticals by 8.3% during the 1st quarter. Tectonic Advisors LLC now owns 899 shares of the biopharmaceutical company's stock worth $570,000 after purchasing an additional 69 shares during the period. Hedge funds and other institutional investors own 83.31% of the company's stock.

Regeneron Pharmaceuticals Trading Up 2.6 %

The company has a current ratio of 4.73, a quick ratio of 3.95 and a debt-to-equity ratio of 0.09. The stock has a 50-day simple moving average of $626.49 and a two-hundred day simple moving average of $711.45. The firm has a market capitalization of $66.21 billion, a P/E ratio of 15.82, a price-to-earnings-growth ratio of 2.34 and a beta of 0.44.

Regeneron Pharmaceuticals Company Profile

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.