Sanofi (NASDAQ:SNY) Upgraded to Overweight at Morgan Stanley

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.

Sanofi (NASDAQ:SNY - Get Free Report) was upgraded by equities researchers at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a report issued on Monday,Benzinga reports. The brokerage currently has a $58.00 price objective on the stock, up from their previous price objective of $56.00. Morgan Stanley's price target points to a potential upside of 24.73% from the stock's previous close.

Several other brokerages have also commented on SNY. Deutsche Bank Aktiengesellschaft upgraded Sanofi from a "hold" rating to a "buy" rating in a research note on Tuesday, September 2nd. JPMorgan Chase & Co. upgraded Sanofi from a "neutral" rating to an "overweight" rating in a research note on Friday, August 8th. Barclays restated an "overweight" rating on shares of Sanofi in a research note on Wednesday, July 2nd. Wall Street Zen upgraded Sanofi from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Guggenheim restated a "buy" rating on shares of Sanofi in a research note on Tuesday, June 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $62.67.

Sanofi Stock Up 2.6%

NASDAQ:SNY opened at $46.50 on Monday. Sanofi has a twelve month low of $44.73 and a twelve month high of $60.12. The company has a market cap of $114.18 billion, a price-to-earnings ratio of 11.18, a price-to-earnings-growth ratio of 1.10 and a beta of 0.51. The stock has a fifty day simple moving average of $48.81 and a 200-day simple moving average of $51.36. 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 (NASDAQ:SNY - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.90 earnings per share 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 the consensus estimate of $9.91 billion. During the same quarter last year, the business posted $1.73 earnings per share. The firm's revenue for the quarter was down 7.0% compared to the same quarter last year. Analysts anticipate that Sanofi will post 4.36 EPS for the current year.

Institutional Investors Weigh In On Sanofi

Large investors have recently modified their holdings of the business. Accent Capital Management LLC purchased a new stake in shares of Sanofi during the first quarter worth about $29,000. Eastern Bank lifted its holdings in shares of Sanofi by 121.0% during the first quarter. Eastern Bank now owns 548 shares of the company's stock worth $30,000 after purchasing an additional 300 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of Sanofi during the second quarter worth about $28,000. Golden State Wealth Management LLC lifted its holdings in shares of Sanofi by 619.3% during the first quarter. Golden State Wealth Management LLC now owns 633 shares of the company's stock worth $35,000 after purchasing an additional 545 shares during the period. Finally, Banque Transatlantique SA acquired a new stake in shares of Sanofi during the first quarter worth about $33,000. 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.

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