Regeneron Pharmaceuticals (NASDAQ:REGN) Shares Gap Down on Analyst Downgrade

Key Points

• Regeneron Pharmaceuticals' shares gapped down by $13 ahead of trading after Morgan Stanley downgraded their price target on the stock to $756.00.
• The stock is currently rated as a "Moderate Buy" with an average target price of $817.46, according to analyst reports.
• Institutional investors own over 83% of Regeneron's stock, indicating strong institutional support and confidence in the company's performance.

Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN - Get Free Report) gapped down prior to trading on Monday after Morgan Stanley lowered their price target on the stock from $761.00 to $756.00. The stock had previously closed at $564.63, but opened at $551.50. Morgan Stanley currently has an overweight rating on the stock. Regeneron Pharmaceuticals shares last traded at $552.51, with a volume of 407,388 shares.

REGN has been the subject of several other research reports. Sanford C. Bernstein upped their price target on Regeneron Pharmaceuticals from $753.00 to $781.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 27th. Raymond James Financial upgraded Regeneron Pharmaceuticals to a "moderate buy" rating in a research note on Tuesday, September 2nd. UBS Group reiterated a "neutral" rating on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Citigroup reiterated a "buy" rating and set a $650.00 price target on shares of Regeneron Pharmaceuticals in a research note on Friday, August 1st. Finally, Canaccord Genuity Group restated a "buy" rating and set a $850.00 target price on shares of Regeneron Pharmaceuticals in a research note on Wednesday, July 23rd. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $817.46.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Regeneron Pharmaceuticals by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 9,407,891 shares of the biopharmaceutical company's stock worth $5,966,767,000 after buying an additional 121,545 shares during the period. State Street Corp raised its position in Regeneron Pharmaceuticals by 0.9% in the 2nd quarter. State Street Corp now owns 4,832,002 shares of the biopharmaceutical company's stock valued at $2,536,801,000 after purchasing an additional 42,343 shares during the last quarter. Dodge & Cox raised its position in Regeneron Pharmaceuticals by 64.6% in the 2nd quarter. Dodge & Cox now owns 3,826,283 shares of the biopharmaceutical company's stock valued at $2,008,799,000 after purchasing an additional 1,502,198 shares during the last quarter. Franklin Resources Inc. raised its position in Regeneron Pharmaceuticals by 1.6% in the 2nd quarter. Franklin Resources Inc. now owns 2,313,496 shares of the biopharmaceutical company's stock valued at $1,214,585,000 after purchasing an additional 36,821 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Regeneron Pharmaceuticals by 4.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,175,026 shares of the biopharmaceutical company's stock valued at $1,379,467,000 after purchasing an additional 89,579 shares during the last quarter. Institutional investors own 83.31% of the company's stock.

Regeneron Pharmaceuticals Trading Down 1.8%

The stock has a market cap of $58.78 billion, a P/E ratio of 13.97, a P/E/G ratio of 1.80 and a beta of 0.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.72 and a current ratio of 4.60. The company has a 50-day simple moving average of $573.95 and a 200-day simple moving average of $564.02.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last issued its quarterly earnings results 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. Regeneron Pharmaceuticals had a return on equity of 15.06% and a net margin of 31.37%.The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.30 billion. During the same quarter in the prior year, the firm posted $11.56 earnings per share. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, sell-side analysts forecast that Regeneron Pharmaceuticals, Inc. will post 35.92 EPS for the current fiscal year.

Regeneron Pharmaceuticals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 3rd. Investors of record on Monday, August 18th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, August 18th. Regeneron Pharmaceuticals's dividend payout ratio is currently 8.87%.

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.

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