Royal Bank Of Canada Has Lowered Expectations for Regeneron Pharmaceuticals (NASDAQ:REGN) Stock Price

Key Points

• Royal Bank of Canada lowered its price target on Regeneron Pharmaceuticals from $707 to $696, while keeping a sector perform rating. The new target still implies modest upside from the prior close.
• Other analysts have also trimmed expectations recently, including Truist, BMO Capital Markets, and Citigroup; MarketBeat now shows an average rating of Moderate Buy with a consensus target of about $790.46.
• Regeneron shares rose to $668.80 in Tuesday trading after the company reported stronger-than-expected quarterly results, with $9.47 EPS and $3.61 billion in revenue. The stock remains below its 200-day moving average, and a recent insider sale by Director Arthur F. Ryan was disclosed.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) had its target price decreased by equities research analysts at Royal Bank Of Canada from $707.00 to $696.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "sector perform" rating on the biopharmaceutical company's stock. Royal Bank Of Canada's price target would suggest a potential upside of 4.07% from the stock's previous close.

Several other research analysts also recently commented on REGN. Truist Financial reduced their price objective on Regeneron Pharmaceuticals from $778.00 to $769.00 and set a "buy" rating for the company in a research note on Tuesday. BMO Capital Markets dropped their target price on shares of Regeneron Pharmaceuticals from $900.00 to $730.00 and set an "outperform" rating for the company in a report on Monday, May 18th. Citigroup cut shares of Regeneron Pharmaceuticals from a "buy" rating to a "neutral" rating and reduced their target price for the company from $900.00 to $700.00 in a research report on Monday, May 18th. Sanford C. Bernstein lowered 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 report on Wednesday, April 8th. Finally, Barclays dropped their price objective on shares of Regeneron Pharmaceuticals from $923.00 to $917.00 and set an "overweight" rating for the company in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $790.46.

Regeneron Pharmaceuticals Price Performance

Regeneron Pharmaceuticals stock traded up $19.00 during midday trading on Tuesday, reaching $668.80. The company had a trading volume of 205,279 shares, compared to its average volume of 867,025. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.57 and a quick ratio of 2.96. Regeneron Pharmaceuticals has a 12-month low of $537.45 and a 12-month high of $821.11. The company has a market capitalization of $70.71 billion, a P/E ratio of 16.29, a P/E/G ratio of 1.44 and a beta of 0.24. The firm's fifty day simple moving average is $652.48 and its 200-day simple moving average is $725.31.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The biopharmaceutical company reported $9.47 EPS for the quarter, topping the consensus estimate of $8.91 by $0.56. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.48 billion. Regeneron Pharmaceuticals had a return on equity of 13.16% and a net margin of 29.65%.Regeneron Pharmaceuticals's quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the business earned $8.22 EPS. As a group, equities analysts anticipate that Regeneron Pharmaceuticals will post 37.44 EPS for the current year.

Insiders Place Their Bets

In other Regeneron Pharmaceuticals news, Director Arthur F. Ryan sold 100 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $705.24, for a total transaction of $70,524.00. Following the completion of the sale, the director owned 17,503 shares of the company's stock, valued at $12,343,815.72. This trade represents a 0.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 6.97% of the company's stock.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

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

About Regeneron Pharmaceuticals

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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