Zacks Investment Research cut shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) from a strong-buy rating to a hold rating in a report published on Wednesday morning.
According to Zacks, “Regeneron’s key growth driver, Eylea, continues to drive revenues on market share gains and the company is expanding the drug's label for additional indications. The FDA’s approval of Dupixent for atopic dermatitis was a major boost to the company’s portfolio and the company is working to expand its label. The drug was recently approved in Europe and we expect sales to get a boost from geographic expansion. Further, the approval of Kevzara (sarilumab) for the treatment of moderately-to-severely active rheumatoid arthritis both in the United States and Europe has boosted the company’s portfolio. Shares have outperformed the industry so far in 2017. We expect the new drug approvals and label expansion of Eylea will continue to boost Regeneron’s performance. However, sales of Praluent have failed to impress.”
Several other equities research analysts have also issued reports on the company. SunTrust Banks, Inc. reaffirmed a hold rating and issued a $435.00 price objective on shares of Regeneron Pharmaceuticals in a research note on Monday. Piper Jaffray Companies reaffirmed an overweight rating and issued a $540.00 price objective on shares of Regeneron Pharmaceuticals in a research note on Friday, September 29th. Oppenheimer Holdings, Inc. reaffirmed a hold rating on shares of Regeneron Pharmaceuticals in a research note on Wednesday, September 27th. UBS AG lowered their price objective on Regeneron Pharmaceuticals from $535.00 to $500.00 and set a buy rating for the company in a research note on Thursday, September 21st. Finally, Royal Bank Of Canada began coverage on Regeneron Pharmaceuticals in a research note on Thursday, September 14th. They issued a sector perform rating and a $475.00 price objective for the company. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $487.26.
Shares of Regeneron Pharmaceuticals (REGN) traded up 1.61% during trading on Wednesday, reaching $463.40. The company’s stock had a trading volume of 1,421,580 shares. The stock has a market cap of $49.14 billion, a price-to-earnings ratio of 46.49 and a beta of 1.62. The company has a 50 day moving average of $460.30 and a 200-day moving average of $451.19. Regeneron Pharmaceuticals has a 12-month low of $325.35 and a 12-month high of $543.55.
Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported $4.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $1.50. The business had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.36 billion. Regeneron Pharmaceuticals had a return on equity of 25.58% and a net margin of 22.05%. The company’s revenue for the quarter was up 21.2% on a year-over-year basis. During the same period last year, the company earned $2.82 EPS. Analysts forecast that Regeneron Pharmaceuticals will post $14.93 EPS for the current year.
In other news, Chairman P Roy Vagelos sold 56,213 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $474.48, for a total value of $26,671,944.24. Following the completion of the sale, the chairman now owns 363,638 shares of the company’s stock, valued at approximately $172,538,958.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Sanofi acquired 166,415 shares of the stock in a transaction dated Thursday, August 24th. The stock was acquired at an average cost of $480.93 per share, with a total value of $80,033,965.95. The disclosure for this purchase can be found here. Insiders sold a total of 87,968 shares of company stock valued at $41,599,948 in the last three months. Insiders own 10.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. lifted its position in Regeneron Pharmaceuticals by 24.2% during the 1st quarter. Victory Capital Management Inc. now owns 3,567 shares of the biopharmaceutical company’s stock worth $1,382,000 after acquiring an additional 694 shares during the period. Blair William & Co. IL lifted its position in Regeneron Pharmaceuticals by 16.1% during the 1st quarter. Blair William & Co. IL now owns 1,634 shares of the biopharmaceutical company’s stock worth $612,000 after acquiring an additional 226 shares during the period. BB&T Securities LLC acquired a new stake in Regeneron Pharmaceuticals during the 1st quarter worth about $632,000. Polen Capital Management LLC lifted its position in Regeneron Pharmaceuticals by 10.2% during the 1st quarter. Polen Capital Management LLC now owns 1,477,907 shares of the biopharmaceutical company’s stock worth $572,704,000 after acquiring an additional 137,258 shares during the period. Finally, LMR Partners LLP acquired a new stake in Regeneron Pharmaceuticals during the 1st quarter worth about $1,941,000. 67.95% of the stock is 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.
Receive News & Ratings for Regeneron Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Regeneron Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.