Canaccord Genuity Reaffirms “Buy” Rating for Regeneron Pharmaceuticals, Inc. (REGN)
Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)‘s stock had its “buy” rating reissued by equities researchers at Canaccord Genuity in a report issued on Monday.
The analysts wrote, “Cara announced this morning that the company has completed an End of Phase 2 mtg with FDA around CR845 in Pruritus associated with Chronic Kidney Disease. We spoke w/ mgmt for an update. Cara plans to initiate one Phase 3 trial of IV CR845 in the U.S. in 4Q17, followed by a second Phase 3 trial in Europe in early 2018. Details on size and design are expected during 3Q17 conference call in a few wks. Although mgmt not providing guidance on timing to top-line results, we believe NDA submission YE19 and launch YE20 still appears feasible.””
Other equities research analysts also recently issued research reports about the company. BTIG Research reissued a “buy” rating and issued a $540.00 price objective (up previously from $480.00) on shares of Regeneron Pharmaceuticals in a report on Friday, June 30th. BidaskClub downgraded Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 6th. Bank of America Corp reissued a “buy” rating and issued a $593.00 price objective (up previously from $589.00) on shares of Regeneron Pharmaceuticals in a report on Friday, July 21st. Citigroup Inc. increased their price objective on Regeneron Pharmaceuticals from $555.00 to $575.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, UBS AG reissued a “buy” rating and issued a $535.00 price objective (up previously from $489.00) on shares of Regeneron Pharmaceuticals in a report on Friday, August 4th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Regeneron Pharmaceuticals has an average rating of “Hold” and a consensus price target of $489.92.
Regeneron Pharmaceuticals (NASDAQ REGN) traded up 0.61% during mid-day trading on Monday, reaching $445.68. 508,714 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $456.72 and a 200 day moving average price of $455.81. Regeneron Pharmaceuticals has a 52-week low of $325.35 and a 52-week high of $543.55. The company has a market cap of $47.26 billion, a PE ratio of 44.71 and a beta of 1.63.
Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported $4.17 EPS for the quarter, beating the consensus estimate of $2.67 by $1.50. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.36 billion. Regeneron Pharmaceuticals had a return on equity of 25.58% and a net margin of 22.05%. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.82 EPS. Equities analysts predict that Regeneron Pharmaceuticals will post $14.94 earnings per share for the current fiscal year.
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In related news, CFO Robert E. Landry sold 189 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $501.06, for a total value of $94,700.34. Following the sale, the chief financial officer now directly owns 10,099 shares of the company’s stock, valued at $5,060,204.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Sanofi acquired 166,415 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Thursday, August 24th. The stock was acquired at an average cost of $480.93 per share, for a total transaction of $80,033,965.95. The disclosure for this purchase can be found here. Insiders sold 89,468 shares of company stock worth $42,312,448 over the last ninety days. 10.80% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Oppenheimer & Co. Inc. boosted its stake in shares of Regeneron Pharmaceuticals by 20.6% during the second quarter. Oppenheimer & Co. Inc. now owns 7,007 shares of the biopharmaceutical company’s stock valued at $3,441,000 after purchasing an additional 1,199 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in shares of Regeneron Pharmaceuticals during the second quarter valued at about $220,000. Blair William & Co. IL boosted its stake in shares of Regeneron Pharmaceuticals by 4.8% during the second quarter. Blair William & Co. IL now owns 1,713 shares of the biopharmaceutical company’s stock valued at $841,000 after purchasing an additional 79 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Regeneron Pharmaceuticals by 2.4% during the second quarter. Principal Financial Group Inc. now owns 115,201 shares of the biopharmaceutical company’s stock valued at $56,580,000 after purchasing an additional 2,646 shares in the last quarter. Finally, National Pension Service boosted its stake in shares of Regeneron Pharmaceuticals by 10.8% during the second quarter. National Pension Service now owns 66,518 shares of the biopharmaceutical company’s stock valued at $33,920,000 after purchasing an additional 6,481 shares in the last quarter. 67.40% 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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