Regeneron Pharmaceuticals (NASDAQ:REGN – Get Free Report) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a note issued to investors on Monday. They presently have a $700.00 price objective on the biopharmaceutical company’s stock. Citigroup’s price target suggests a potential upside of 0.25% from the stock’s current price.
REGN has been the subject of a number of other research reports. Truist Financial reduced their price objective on Regeneron Pharmaceuticals from $801.00 to $796.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Regeneron Pharmaceuticals in a research report on Friday, March 27th. JPMorgan Chase & Co. increased their price objective on shares of Regeneron Pharmaceuticals from $850.00 to $950.00 and gave the stock an “overweight” rating in a research note on Monday, February 2nd. Sanford C. Bernstein dropped their price objective on shares of Regeneron Pharmaceuticals from $925.00 to $921.00 and set an “outperform” rating on the stock in a report on Wednesday, April 8th. Finally, Morgan Stanley upped their target price on shares of Regeneron Pharmaceuticals from $769.00 to $796.00 and gave the company an “equal weight” rating in a report on Friday, April 10th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $818.52.
Regeneron Pharmaceuticals Price Performance
Regeneron Pharmaceuticals (NASDAQ:REGN – Get Free Report) last announced its earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share for the quarter, beating analysts’ consensus estimates of $8.91 by $0.56. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.48 billion. Regeneron Pharmaceuticals had a net margin of 29.65% and a return on equity of 13.16%. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned $8.22 EPS. Research analysts anticipate that Regeneron Pharmaceuticals will post 37.1 EPS for the current year.
Insiders Place Their Bets
In other news, Director Huda Y. Zoghbi sold 1,638 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $781.33, for a total value of $1,279,818.54. Following the sale, the director directly owned 1,703 shares in the company, valued at $1,330,604.99. The trade was a 49.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Arthur F. Ryan sold 100 shares of the company’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $705.24, for a total transaction of $70,524.00. Following the sale, the director owned 17,503 shares in the company, valued at $12,343,815.72. This represents a 0.57% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.97% of the company’s stock.
Hedge Funds Weigh In On Regeneron Pharmaceuticals
Large investors have recently modified their holdings of the stock. Brighton Jones LLC increased 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 valued at $675,000 after acquiring an additional 686 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Regeneron Pharmaceuticals during the 1st quarter worth about $226,000. Arrowstreet Capital Limited Partnership purchased a new position in shares of Regeneron Pharmaceuticals during the 2nd quarter worth about $3,183,000. Gabelli Funds LLC grew its holdings in Regeneron Pharmaceuticals by 3.0% during the 2nd quarter. Gabelli Funds LLC now owns 1,863 shares of the biopharmaceutical company’s stock valued at $978,000 after purchasing an additional 55 shares during the last quarter. Finally, Sei Investments Co. raised its position in Regeneron Pharmaceuticals by 18.8% in the 2nd 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. Institutional investors own 83.31% of the company’s stock.
Trending Headlines about Regeneron Pharmaceuticals
Here are the key news stories impacting Regeneron Pharmaceuticals this week:
- Positive Sentiment: Regeneron announced a new collaboration with Parabilis Medicines to develop Antibody-Helicon™ Conjugates, potentially expanding its pipeline into hard-to-drug targets and creating long-term upside. Regeneron Announces Strategic Collaboration with Parabilis Medicines to Advance Novel Antibody-Helicon™ Conjugates Across Multiple Therapeutic Areas
- Neutral Sentiment: The Parabilis agreement includes a $50 million upfront payment, a $75 million equity commitment, and future milestones/royalties, which is meaningful but still dependent on early-stage scientific success. Parabilis Medicines Announces Strategic Collaboration with Regeneron Pharmaceuticals to Advance Novel Antibody-Helicon™ Conjugates Across Multiple Therapeutic Areas
- Negative Sentiment: Regeneron’s phase 3 melanoma study of fianlimab failed to meet its main goal, a setback that weakens confidence in the company’s near-term oncology growth story. Regeneron drops after skin cancer treatment misses late-stage trial goal
About Regeneron Pharmaceuticals
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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