Zacks Investment Research Upgrades Regeneron Pharmaceuticals, Inc. (REGN) to “Hold”
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “Regeneron’s fourth-quarter results were disappointing with the company missing on both earnings and revenues estimates. Moreover, the guidance for Eylea was also weak. Regeneron suffered a major blow when the U.S District Court in Delaware granted Amgen request for a permanent injunction prohibiting the sale of PCSK9 inhibitor, Praluent. However, on Feb 8, the United States Court of Appeals for the Federal Circuit stayed the injunction appeal. Hence, Regeneron and Sanofi will continue marketing, selling, and manufacturing Praluent in the U.S. during the appeal process. Although sales of Praluent have failed to impress due to the present payer utilization management restrictions in the U.S. and limited market access in Europe, the drug is still expected to have blockbuster potential. Investors should focus on late stage pipeline catalysts – dupilumab and sarilumab. Shares of the company have also underperformed the industry.”
A number of other equities analysts have also recently issued reports on REGN. Leerink Swann set a $448.00 target price on shares of Regeneron Pharmaceuticals and gave the stock a “buy” rating in a report on Saturday, February 11th. J P Morgan Chase & Co set a $477.00 target price on shares of Regeneron Pharmaceuticals and gave the stock a “hold” rating in a report on Sunday, October 30th. Piper Jaffray Companies set a $447.00 target price on shares of Regeneron Pharmaceuticals and gave the stock a “hold” rating in a report on Sunday, October 30th. Evercore ISI set a $421.00 target price on shares of Regeneron Pharmaceuticals and gave the stock a “hold” rating in a report on Sunday, January 8th. Finally, Cowen and Company set a $430.00 target price on shares of Regeneron Pharmaceuticals and gave the stock a “hold” rating in a report on Sunday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Regeneron Pharmaceuticals currently has an average rating of “Buy” and an average price target of $447.16.
Shares of Regeneron Pharmaceuticals (NASDAQ:REGN) opened at 373.02 on Wednesday. The stock has a market cap of $39.34 billion, a price-to-earnings ratio of 48.45 and a beta of 1.44. The company has a 50-day moving average price of $363.17 and a 200-day moving average price of $385.47. Regeneron Pharmaceuticals has a 1-year low of $325.35 and a 1-year high of $452.96.
Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its earnings results on Thursday, February 9th. The biopharmaceutical company reported $3.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.03 by $0.01. Regeneron Pharmaceuticals had a net margin of 18.10% and a return on equity of 22.51%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the company posted $2.83 earnings per share. Regeneron Pharmaceuticals’s revenue was up 11.7% on a year-over-year basis. On average, equities analysts expect that Regeneron Pharmaceuticals will post $13.17 earnings per share for the current fiscal year.
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In other Regeneron Pharmaceuticals news, major shareholder Sanofi purchased 87,298 shares of the firm’s stock in a transaction on Wednesday, January 11th. The shares were purchased at an average price of $369.71 per share, for a total transaction of $32,274,943.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles A. Baker sold 3,000 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Monday, December 12th. The stock was sold at an average price of $392.02, for a total transaction of $1,176,060.00. Following the completion of the transaction, the director now owns 12,000 shares in the company, valued at approximately $4,704,240. The disclosure for this sale can be found here. Insiders own 10.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Loomis Sayles & Co. L P boosted its position in Regeneron Pharmaceuticals by 49.4% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,715,305 shares of the biopharmaceutical company’s stock valued at $629,672,000 after buying an additional 567,188 shares during the last quarter. Polen Capital Management LLC boosted its position in Regeneron Pharmaceuticals by 65.2% in the fourth quarter. Polen Capital Management LLC now owns 1,340,649 shares of the biopharmaceutical company’s stock valued at $492,139,000 after buying an additional 529,348 shares during the last quarter. Capital World Investors boosted its position in Regeneron Pharmaceuticals by 6.6% in the third quarter. Capital World Investors now owns 7,810,538 shares of the biopharmaceutical company’s stock valued at $3,139,992,000 after buying an additional 483,912 shares during the last quarter. Renaissance Technologies LLC purchased a new position in Regeneron Pharmaceuticals during the fourth quarter valued at $91,978,000. Finally, BlackRock Investment Management LLC boosted its position in Regeneron Pharmaceuticals by 136.0% in the second quarter. BlackRock Investment Management LLC now owns 403,418 shares of the biopharmaceutical company’s stock valued at $140,886,000 after buying an additional 232,471 shares during the last quarter. Hedge funds and other institutional investors own 68.83% of the company’s stock.
Regeneron Pharmaceuticals Company Profile
Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company’s segment includes activities related to the discovery, development and commercialization of pharmaceutical products for the treatment of serious medical conditions.
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