Truist Financial Issues Pessimistic Forecast for Regeneron Pharmaceuticals (NASDAQ:REGN) Stock Price

Key Points

• Truist Financial cut its price target on Regeneron Pharmaceuticals from $796 to $778 while keeping a buy rating, implying upside from the prior close despite a more cautious view.
• Regeneron shares fell sharply, trading down 10.5% to $625.21 amid heavy volume. The drop came alongside broader analyst price-target reductions after a setback in the company’s melanoma pipeline.
• Despite the negative sentiment, Regeneron recently reported better-than-expected quarterly results, with EPS of $9.47 versus $8.91 expected and revenue of $3.61 billion topping estimates.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) had its price target lowered by stock analysts at Truist Financial from $796.00 to $778.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the biopharmaceutical company's stock. Truist Financial's price target indicates a potential upside of 24.44% from the stock's previous close.

REGN has been the subject of several other reports. Royal Bank Of Canada reduced their price target on Regeneron Pharmaceuticals from $762.00 to $707.00 and set a "sector perform" rating for the company in a research report on Monday. Evercore increased their price target on Regeneron Pharmaceuticals from $750.00 to $875.00 and gave the company an "outperform" rating in a research report on Thursday, January 22nd. Guggenheim increased their price target on Regeneron Pharmaceuticals from $975.00 to $995.00 and gave the company a "buy" rating in a research report on Friday, May 1st. Citigroup reissued a "neutral" rating and set a $700.00 price target (down from $900.00) on shares of Regeneron Pharmaceuticals in a research report on Monday. Finally, Sanford C. Bernstein cut their target price on shares of Regeneron Pharmaceuticals from $925.00 to $921.00 and set an "outperform" rating for the company in a research note on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $805.78.

Regeneron Pharmaceuticals Stock Down 10.5%

Shares of Regeneron Pharmaceuticals stock traded down $73.04 during trading hours on Monday, reaching $625.21. 1,682,692 shares of the company's stock were exchanged, compared to its average volume of 761,386. The company has a 50 day moving average of $744.69 and a two-hundred day moving average of $746.09. Regeneron Pharmaceuticals has a fifty-two week low of $476.49 and a fifty-two week high of $821.11. The company has a current ratio of 3.57, a quick ratio of 2.96 and a debt-to-equity ratio of 0.06. The stock has a market cap of $66.10 billion, a P/E ratio of 15.24, a P/E/G ratio of 1.55 and a beta of 0.30.

Regeneron Pharmaceuticals (NASDAQ:REGN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 EPS for the quarter, beating the consensus estimate of $8.91 by $0.56. Regeneron Pharmaceuticals had a return on equity of 13.16% and a net margin of 29.65%.The firm had revenue of $3.61 billion during the quarter, compared to analysts' expectations of $3.48 billion. During the same period in the prior year, the firm posted $8.22 earnings per share. The business's quarterly revenue was up 19.0% compared to the same quarter last year. On average, sell-side analysts forecast that Regeneron Pharmaceuticals will post 37.1 EPS for the current fiscal year.

Insider Activity

In related news, Director Arthur F. Ryan sold 100 shares of the firm's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $705.24, for a total value of $70,524.00. Following the completion of the sale, the director directly owned 17,503 shares in the company, valued at approximately $12,343,815.72. This trade represents a 0.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Huda Y. Zoghbi sold 1,638 shares of the firm's stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $781.33, for a total transaction of $1,279,818.54. Following the completion of the sale, the director owned 1,703 shares of the company's stock, valued at $1,330,604.99. This trade represents a 49.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 6.97% of the company's stock.

Institutional Investors Weigh In On Regeneron Pharmaceuticals

Several hedge funds have recently bought and sold shares of REGN. Brighton Jones LLC lifted its position in Regeneron Pharmaceuticals by 261.8% during the fourth quarter. Brighton Jones LLC now owns 948 shares of the biopharmaceutical company's stock worth $675,000 after acquiring an additional 686 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Regeneron Pharmaceuticals during the first quarter worth approximately $226,000. Arrowstreet Capital Limited Partnership acquired a new stake in Regeneron Pharmaceuticals during the second quarter worth approximately $3,183,000. Gabelli Funds LLC increased its holdings in shares of Regeneron Pharmaceuticals by 3.0% during the second quarter. Gabelli Funds LLC now owns 1,863 shares of the biopharmaceutical company's stock worth $978,000 after purchasing an additional 55 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Regeneron Pharmaceuticals by 18.8% during the second quarter. Sei Investments Co. now owns 32,341 shares of the biopharmaceutical company's stock worth $16,985,000 after purchasing an additional 5,120 shares during the period. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Regeneron Pharmaceuticals

Here are the key news stories impacting Regeneron Pharmaceuticals this week:

• Negative Sentiment: Regeneron’s phase 3 melanoma trial for fianlimab missed its main goal, weakening confidence in a high-profile pipeline asset and contributing to analyst downgrades. Reuters article
• Neutral Sentiment: Citigroup reaffirmed its neutral rating on REGN but cut its price target to $700 from $900, signaling a more cautious valuation view. Tickerreport article
• Neutral Sentiment: Leerink Partners also reaffirmed a market perform rating and lowered its target to $641 from $792, reflecting reduced expectations after the trial setback. Benzinga article
• Positive Sentiment: Regeneron announced a strategic collaboration with Parabilis Medicines to develop novel antibody-Helicon conjugates, a pipeline-expanding deal that could eventually generate significant milestone payments and royalties. Yahoo Finance article

Regeneron Pharmaceuticals Company Profile

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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