Robert W. Baird cut shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) from a neutral rating to an underperform rating in a research note published on Tuesday. They currently have $408.00 price objective on the biopharmaceutical company’s stock.
“nothing to scoff at,” Skorney said in his downgrade note. However, investor expectations for a strong performance has “stretched the valuation beyond what is reasonable” based on the initial launch metrics (see Skorney’s track record here).In fact, investor expectation shifted from “high” in late April/May to “extraordinary” today, the analyst added. Meanwhile, buy-side analysts may have also gotten ahead of themselves in predicting Dupixent to outperform Novartis’ blockbuster therapy, Cosentyx.”We believe shares reflect a greater degree of optimism than is warranted,” Skorney emphasized. “We continue to believe Dupixent will be a big drug, as reflected by our reiterated target price of $408.,” Robert W. Baird’s analyst commented.
REGN has been the topic of a number of other reports. BMO Capital Markets raised their price target on shares of Regeneron Pharmaceuticals from $412.00 to $421.00 and gave the company a hold rating in a report on Monday, May 15th. Vetr lowered shares of Regeneron Pharmaceuticals from a strong-buy rating to a buy rating and set a $408.86 price objective for the company. in a research report on Monday, April 24th. UBS AG set a $489.00 price objective on shares of Regeneron Pharmaceuticals and gave the company a buy rating in a research report on Friday, May 5th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Regeneron Pharmaceuticals in a research report on Wednesday, June 14th. Finally, Citigroup Inc. increased their price objective on shares of Regeneron Pharmaceuticals from $555.00 to $575.00 and gave the company a buy rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $489.35.
Regeneron Pharmaceuticals (NASDAQ:REGN) traded up 1.41% during midday trading on Tuesday, reaching $466.59. 495,953 shares of the company traded hands. Regeneron Pharmaceuticals has a one year low of $325.35 and a one year high of $543.55. The stock has a market capitalization of $49.47 billion, a P/E ratio of 46.81 and a beta of 1.66. The company has a 50 day moving average price of $495.54 and a 200-day moving average price of $426.50.
Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported $4.17 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $1.50. Regeneron Pharmaceuticals had a net margin of 22.05% and a return on equity of 25.58%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.36 billion. During the same period last year, the business earned $2.82 EPS. The company’s revenue was up 21.2% compared to the same quarter last year. Analysts forecast that Regeneron Pharmaceuticals will post $14.84 EPS for the current fiscal year.
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In related news, major shareholder Sanofi purchased 136,050 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were purchased at an average price of $478.17 per share, with a total value of $65,055,028.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Robert E. Landry sold 526 shares of Regeneron Pharmaceuticals stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $472.19, for a total transaction of $248,371.94. Following the completion of the sale, the senior vice president now directly owns 9,099 shares in the company, valued at approximately $4,296,456.81. The disclosure for this sale can be found here. Insiders sold a total of 56,922 shares of company stock worth $27,383,105 in the last three months. 10.40% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Highbridge Capital Management LLC bought a new stake in Regeneron Pharmaceuticals during the fourth quarter worth about $323,000. Raymond James Trust N.A. boosted its stake in Regeneron Pharmaceuticals by 9.2% in the first quarter. Raymond James Trust N.A. now owns 828 shares of the biopharmaceutical company’s stock worth $320,000 after buying an additional 70 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in Regeneron Pharmaceuticals by 3.6% in the first quarter. Gulf International Bank UK Ltd now owns 24,055 shares of the biopharmaceutical company’s stock worth $9,321,000 after buying an additional 825 shares in the last quarter. National Pension Service boosted its stake in Regeneron Pharmaceuticals by 6.1% in the first quarter. National Pension Service now owns 60,037 shares of the biopharmaceutical company’s stock worth $23,185,000 after buying an additional 3,430 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Regeneron Pharmaceuticals by 55.0% in the first quarter. Bank of Montreal Can now owns 50,819 shares of the biopharmaceutical company’s stock worth $19,693,000 after buying an additional 18,030 shares in the last quarter. 66.70% of the stock is currently owned by hedge funds and other institutional investors.
About Regeneron Pharmaceuticals
Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company commercializes medicines for eye diseases, high low-density lipoprotein (LDL) cholesterol, and an inflammatory condition and have product candidates in development in other areas, including rheumatoid arthritis, asthma, atopic dermatitis, pain, cancer, and infectious diseases.
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