Regeneron Pharmaceuticals (REGN) Given “Buy” Rating at Canaccord Genuity
Canaccord Genuity reaffirmed their buy rating on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) in a report published on Wednesday morning. The firm currently has a $522.00 price objective on the biopharmaceutical company’s stock.
“We are encouraged by better US Dupixent growth, but recognize that the pediatric atopic dermatitis market will be the core growth driver, with approval expected around 2021. Also, while we understand that REGN and investors are focusing more on Dupixent’s growth than EYLEA’s, the lack of EYLEA guidance going forward is concerning. REGN cannot give guidance on Dupixent since Sanofi books the revenues, and EYLEA is still expected to be the core revenue driver for REGN.”,” the firm’s analyst wrote.
Other equities analysts have also issued reports about the stock. BTIG Research reiterated a buy rating and issued a $520.00 price target on shares of Regeneron Pharmaceuticals in a research report on Wednesday, November 22nd. BMO Capital Markets set a $444.00 price target on shares of Regeneron Pharmaceuticals and gave the stock a hold rating in a research report on Monday, November 27th. Citigroup lowered shares of Regeneron Pharmaceuticals from a buy rating to a neutral rating and dropped their price target for the stock from $480.00 to $380.00 in a research report on Friday, December 1st. Piper Jaffray Companies reiterated a buy rating and issued a $540.00 price target on shares of Regeneron Pharmaceuticals in a research report on Monday, November 13th. Finally, Jefferies Group reiterated a hold rating and issued a $421.00 price target on shares of Regeneron Pharmaceuticals in a research report on Friday, February 2nd. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $470.84.
Several large investors have recently modified their holdings of REGN. Harding Loevner LP raised its stake in Regeneron Pharmaceuticals by 589.2% during the third quarter. Harding Loevner LP now owns 3,663,548 shares of the biopharmaceutical company’s stock valued at $286,619,000 after purchasing an additional 3,131,966 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in Regeneron Pharmaceuticals by 500,446.2% during the third quarter. Old Mutual Global Investors UK Ltd. now owns 325,355 shares of the biopharmaceutical company’s stock valued at $145,472,000 after purchasing an additional 325,290 shares in the last quarter. Bank of Montreal Can raised its stake in Regeneron Pharmaceuticals by 342.4% during the fourth quarter. Bank of Montreal Can now owns 188,828 shares of the biopharmaceutical company’s stock valued at $70,991,000 after purchasing an additional 146,147 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in Regeneron Pharmaceuticals during the third quarter valued at $54,537,000. Finally, Orbimed Advisors LLC raised its stake in Regeneron Pharmaceuticals by 22.7% during the third quarter. Orbimed Advisors LLC now owns 572,770 shares of the biopharmaceutical company’s stock valued at $256,097,000 after purchasing an additional 106,000 shares in the last quarter. Hedge funds and other institutional investors own 65.69% of the company’s stock.
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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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