Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target Raised to $997.00

Regeneron Pharmaceuticals (NASDAQ:REGN) had its target price increased by Leerink Partners from $835.00 to $997.00 in a report released on Monday,Benzinga reports. Leerink Partners currently has a market perform rating on the biopharmaceutical company’s stock.

REGN has been the topic of a number of other research reports. Cantor Fitzgerald upped their target price on shares of Regeneron Pharmaceuticals from $795.00 to $980.00 and gave the company an “overweight” rating in a research note on Monday. Robert W. Baird lifted their price target on Regeneron Pharmaceuticals from $761.00 to $875.00 and gave the stock a “neutral” rating in a research note on Monday. BMO Capital Markets lifted their price target on Regeneron Pharmaceuticals from $800.00 to $920.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 9th. Benchmark raised Regeneron Pharmaceuticals from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a report on Tuesday, July 7th. Finally, Citigroup upped their price objective on Regeneron Pharmaceuticals from $740.00 to $825.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Regeneron Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus price target of $898.97.

Regeneron Pharmaceuticals Stock Down 4.4%

REGN stock opened at $930.67 on Monday. The company has a current ratio of 3.35, a quick ratio of 3.66 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $800.69 and a 200-day simple moving average of $741.11. The company has a market capitalization of $95.82 billion, a P/E ratio of 20.38, a PEG ratio of 1.45 and a beta of 0.10. Regeneron Pharmaceuticals has a twelve month low of $591.52 and a twelve month high of $991.73.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings results on Friday, October 30th. The biopharmaceutical company reported $20.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $16.51 by $3.56. Regeneron Pharmaceuticals had a net margin of 28.51% and a return on equity of 16.01%. The firm had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $4.58 billion. During the same period in the prior year, the company posted $11.83 earnings per share. The firm’s quarterly revenue was up 36.3% on a year-over-year basis. On average, equities research analysts predict that Regeneron Pharmaceuticals will post 51.64 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, November 20th will be given a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, November 20th. Regeneron Pharmaceuticals’s dividend payout ratio is currently 8.30%.

Insider Activity

In related news, EVP Marion Mccourt sold 1,131 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $857.39, for a total transaction of $969,708.09. Following the sale, the executive vice president owned 12,003 shares in the company, valued at $10,291,252.17. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph Larosa sold 4,466 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $965.49, for a total transaction of $4,311,878.34. Following the completion of the transaction, the executive vice president directly owned 38,906 shares in the company, valued at $37,563,353.94. This represents a 10.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 20,789 shares of company stock valued at $18,766,698 over the last quarter. Corporate insiders own 6.97% of the company’s stock.

Institutional Trading of Regeneron Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in REGN. BlackRock Inc. acquired a new position in Regeneron Pharmaceuticals in the 2nd quarter worth $5,682,636,000. State Street Corp raised its position in Regeneron Pharmaceuticals by 3.6% in the 2nd quarter. State Street Corp now owns 4,834,688 shares of the biopharmaceutical company’s stock valued at $3,014,621,000 after buying an additional 170,210 shares during the last quarter. Bank of America Corp DE lifted its stake in Regeneron Pharmaceuticals by 8.5% in the 2nd quarter. Bank of America Corp DE now owns 1,291,053 shares of the biopharmaceutical company’s stock valued at $805,023,000 after acquiring an additional 101,469 shares in the last quarter. Amundi lifted its stake in Regeneron Pharmaceuticals by 0.4% in the 2nd quarter. Amundi now owns 1,013,540 shares of the biopharmaceutical company’s stock valued at $631,983,000 after acquiring an additional 3,742 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in Regeneron Pharmaceuticals in the 2nd quarter valued at approximately $473,872,000. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Regeneron Pharmaceuticals

Here are the key news stories impacting Regeneron Pharmaceuticals this week:

• Positive Sentiment: Bank of America added REGN to its Value 10 list, a favorable signal about the stock’s value appeal. BofA adds REGN to Value 10 list
• Positive Sentiment: Recent analyst coverage points to higher price targets and expectations for appreciation. Separately, Zacks said solid earnings-estimate revisions could help the shares continue gaining. These views follow Regeneron’s recent quarterly results, which beat consensus on earnings and revenue. RBC raises Regeneron price target Zacks on earnings estimate revisions
• Negative Sentiment: Recent disclosures show EVP Joseph Larosa sold 4,466 shares and director Christine Poon sold 7,830 shares on November 2; Poon’s sale cut her direct holding by 60%. Director Kathryn Guarini also sold 400 shares under a pre-arranged trading plan. The larger transactions could raise concerns about insider sentiment, though sales alone do not indicate a change in the company’s business outlook. Larosa sale filing Poon sale filing Guarini sale filing

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc is a biotechnology company that discovers, develops and commercializes medicines for serious medical conditions. The company uses genetic and antibody-based research technologies to develop treatments in areas including eye diseases, allergic and inflammatory conditions, cancer, cardiovascular disease, infectious diseases and rare disorders.

Its marketed products include Eylea and Eylea HD for retinal diseases, Dupixent for several inflammatory and allergic conditions, Libtayo for certain cancers, Praluent for cardiovascular disease, Kevzara for rheumatoid arthritis, and other medicines such as Inmazeb, Evkeeza, Veopoz and Arcalyst.