Morgan Stanley Upgrades Sanofi (NASDAQ:SNY) to Overweight

Key Points

• Sanofi has been upgraded to an "overweight" rating by Morgan Stanley, with a new price target of $58.00, indicating a potential upside of 24.73% from its previous close.
• Other brokerages, including Deutsche Bank and JPMorgan, have also upgraded their ratings on Sanofi, contributing to a consensus rating of "Buy" and a price target of $62.67.
• Despite reporting earnings that missed expectations, Sanofi's stock has shown resilience, recently posting a 2.6% increase.

Morgan Stanley upgraded shares of Sanofi (NASDAQ:SNY - Free Report) from an equal weight rating to an overweight rating in a report released on Monday morning, Marketbeat Ratings reports. They currently have $58.00 price objective on the stock, up from their prior price objective of $56.00.

SNY has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft raised shares of Sanofi from a "hold" rating to a "buy" rating in a report on Tuesday, September 2nd. Guggenheim reaffirmed a "buy" rating on shares of Sanofi in a report on Tuesday, June 3rd. JPMorgan Chase & Co. raised shares of Sanofi from a "neutral" rating to an "overweight" rating in a report on Friday, August 8th. Barclays reaffirmed an "overweight" rating on shares of Sanofi in a report on Wednesday, July 2nd. Finally, Wall Street Zen upgraded Sanofi from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Three investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $62.67.

Sanofi Trading Down 1.3%

Shares of NASDAQ SNY traded down $0.62 on Monday, reaching $47.03. 2,728,115 shares of the company traded hands, compared to its average volume of 2,650,921. The company has a current ratio of 1.27, a quick ratio of 0.94 and a debt-to-equity ratio of 0.19. Sanofi has a fifty-two week low of $44.73 and a fifty-two week high of $60.12. The company has a 50 day moving average of $48.64 and a 200 day moving average of $51.16. The stock has a market capitalization of $115.48 billion, a PE ratio of 11.31, a P/E/G ratio of 1.13 and a beta of 0.51.

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

Institutional Investors Weigh In On Sanofi

A number of hedge funds and other institutional investors have recently modified their holdings of SNY. Ameritas Advisory Services LLC bought a new stake in shares of Sanofi during the second quarter valued at about $28,000. Accent Capital Management LLC bought a new stake in shares of Sanofi during the first quarter valued at about $29,000. Eastern Bank raised its position in Sanofi by 121.0% in the first quarter. Eastern Bank now owns 548 shares of the company's stock worth $30,000 after acquiring an additional 300 shares in the last quarter. Banque Transatlantique SA bought a new stake in Sanofi in the first quarter worth about $33,000. Finally, Golden State Wealth Management LLC raised its position in Sanofi by 619.3% in the first quarter. Golden State Wealth Management LLC now owns 633 shares of the company's stock worth $35,000 after acquiring an additional 545 shares in the last quarter. 14.04% of the stock is currently owned by institutional investors.

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.