Sanofi (NASDAQ:SNY) Stock Rating Raised to Buy at Wall Street Zen

Sanofi (NASDAQ:SNY) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research firms have also recently weighed in on SNY. Royal Bank Of Canada initiated coverage on Sanofi in a research note on Tuesday, September 8th. They set a “sector perform” rating on the stock. HSBC restated a “buy” rating on shares of Sanofi in a report on Thursday, September 10th. Berenberg Bank reaffirmed a “buy” rating on shares of Sanofi in a report on Monday, October 5th. DZ Bank reissued a “buy” rating on shares of Sanofi in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Sanofi from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, Sanofi currently has a consensus rating of “Hold” and an average target price of $49.50.

Sanofi Stock Up 0.3%

NASDAQ:SNY opened at $47.04 on Friday. The stock’s 50 day moving average price is $42.30 and its two-hundred day moving average price is $44.34. Sanofi has a twelve month low of $39.07 and a twelve month high of $52.68. The firm has a market capitalization of $114.05 billion, a price-to-earnings ratio of 23.29, a price-to-earnings-growth ratio of 1.25 and a beta of 0.31. The company has a quick ratio of 0.64, a current ratio of 1.12 and a debt-to-equity ratio of 0.20.

Sanofi (NASDAQ:SNY) last issued its quarterly earnings results on Friday, October 30th. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.56 by $0.48. The firm had revenue of $17.25 billion for the quarter, compared to the consensus estimate of $14.30 billion. Sanofi had a return on equity of 15.16% and a net margin of 8.70%. The company’s revenue for the quarter was up 16.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.91 earnings per share. Equities research analysts expect that Sanofi will post 5.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sanofi

Institutional investors have recently bought and sold shares of the company. Manning & Napier Advisors LLC grew its stake in Sanofi by 728,134.8% during the first quarter. Manning & Napier Advisors LLC now owns 1,194,305 shares of the company’s stock valued at $57,542,000 after acquiring an additional 1,194,141 shares in the last quarter. Bank of America Corp DE increased its stake in shares of Sanofi by 11.0% during the first quarter. Bank of America Corp DE now owns 9,484,350 shares of the company’s stock valued at $456,956,000 after acquiring an additional 940,342 shares during the period. Regal Partners Ltd grew its holdings in Sanofi by 33.2% in the 1st quarter. Regal Partners Ltd now owns 2,545,432 shares of the company’s stock valued at $122,639,000 after buying an additional 633,782 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Sanofi by 17.5% during the first quarter. Royal Bank of Canada now owns 3,155,080 shares of the company’s stock worth $152,011,000 after buying an additional 470,882 shares during the last quarter. Finally, ADAR1 Capital Management LLC raised its position in shares of Sanofi by 399.3% in the first quarter. ADAR1 Capital Management LLC now owns 316,939 shares of the company’s stock valued at $15,270,000 after purchasing an additional 253,465 shares during the period. Hedge funds and other institutional investors own 14.03% of the company’s stock.

About Sanofi

Sanofi is a France-based global biopharmaceutical company that researches, develops, manufactures and markets medicines and vaccines. Its work spans areas including immunology, oncology, rare diseases and neurology, as well as preventive vaccines.

The company’s portfolio includes Dupixent, an immunology medicine developed with Regeneron, and vaccines for diseases such as influenza and meningitis. Sanofi serves patients and healthcare providers in markets around the world.

Sanofi traces its origins to a company established in France in 1973.