JPMorgan Chase & Co. Upgrades Sanofi (NASDAQ:SNY) to Overweight

Key Points

• Sanofi has been upgraded by JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating, indicating a more favorable outlook for the stock.
• Multiple brokerages have recently rated Sanofi positively, with an average rating of "Buy" and a price target of $62.00.
• Sanofi's stock is currently trading at $47.43, with the company reporting earnings per share of $0.90 for the last quarter, below analysts' expectations.

JPMorgan Chase & Co. upgraded shares of Sanofi (NASDAQ:SNY - Free Report) from a neutral rating to an overweight rating in a report issued on Friday morning, Marketbeat Ratings reports.

A number of other analysts have also recently commented on the company. Morgan Stanley set a $56.00 price target on Sanofi in a research report on Monday, June 2nd. Deutsche Bank Aktiengesellschaft restated a "hold" rating on shares of Sanofi in a research report on Tuesday. Hsbc Global Res upgraded Sanofi to a "strong-buy" rating in a research report on Monday, April 28th. Guggenheim restated a "buy" rating on shares of Sanofi in a research report on Tuesday, June 3rd. Finally, BNP Paribas assumed coverage on Sanofi in a research report on Tuesday, April 15th. They issued an "outperform" rating and a $65.00 price target for the company. Two research analysts have rated the stock with a hold rating, five have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $62.00.

Sanofi Stock Performance

Shares of NASDAQ:SNY traded down $0.28 during midday trading on Friday, reaching $47.16. 2,968,334 shares of the company's stock traded hands, compared to its average volume of 2,427,230. The company has a market cap of $115.79 billion, a price-to-earnings ratio of 11.34, a P/E/G ratio of 1.13 and a beta of 0.48. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.94 and a current ratio of 1.27. Sanofi has a one year low of $44.73 and a one year high of $60.12. The stock has a 50 day moving average of $48.67 and a 200 day moving average of $51.97.

Sanofi (NASDAQ:SNY - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.90 EPS for the quarter, missing analysts' consensus estimates of $0.96 by ($0.06). The firm had revenue of $11.34 billion for the quarter, compared to analysts' expectations of $9.91 billion. Sanofi had a net margin of 21.47% and a return on equity of 16.86%. The firm's revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.73 EPS. As a group, equities research analysts anticipate that Sanofi will post 4.36 EPS for the current fiscal year.

Institutional Trading of Sanofi

Institutional investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Sanofi by 124.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,131 shares of the company's stock valued at $1,344,000 after buying an additional 13,358 shares during the last quarter. Axxcess Wealth Management LLC boosted its stake in Sanofi by 130.5% during the first quarter. Axxcess Wealth Management LLC now owns 10,234 shares of the company's stock valued at $568,000 after buying an additional 5,794 shares during the last quarter. Ballentine Partners LLC boosted its stake in Sanofi by 68.7% during the first quarter. Ballentine Partners LLC now owns 26,063 shares of the company's stock valued at $1,445,000 after buying an additional 10,617 shares during the last quarter. Sowell Financial Services LLC bought a new position in Sanofi during the first quarter valued at approximately $328,000. Finally, Farther Finance Advisors LLC boosted its stake in Sanofi by 66.2% during the first quarter. Farther Finance Advisors LLC now owns 6,215 shares of the company's stock valued at $338,000 after buying an additional 2,476 shares during the last quarter. Hedge funds and other institutional investors own 14.04% of the company's stock.

Sanofi Company Profile

Sanofi, a healthcare company, engages in the research, development, manufacture, and marketing of therapeutic solutions in the United States, Europe, Canada, and internationally. It operates through Pharmaceuticals, Vaccines, and Consumer Healthcare segments. The company provides specialty care, such as DUPIXENT, neurology and immunology, rare diseases, oncology, and rare blood disorders; medicines for diabetes and cardiovascular diseases; and established prescription products.