Regeneron Pharmaceuticals Inc. (NASDAQ:REGN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “Regeneron reported disappointing top-line data from an ongoing phase II CAPELLA study, evaluating Eylea in combination with rinucumab, in patients with neovascular age-related macular degeneration (wet AMD). Given that the company is looking to expand Eylea’s label into additional indications, the reported study results are unimpressive. We note that Eylea, which is approved for several eye disorders, is the key growth driver at Regeneron. The company expects U.S. Eylea net sales to grow 20–25% year over year in 2016. Meanwhile, Regeneron’s efforts to develop its pipeline are impressive. The company has several candidates in its pipeline with blockbuster potential. Investor focus should remain on the approval status of Dupixent and sarilumab. Also, Regeneron’s collaboration deals with companies like Bayer and Sanofi are encouraging. Regeneron got a huge boost when Praluent became the first PCSK9 inhibitor to gain FDA nod.”
A number of other analysts also recently commented on the stock. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $521.00 target price on shares of Regeneron Pharmaceuticals in a report on Tuesday, September 27th. Jefferies Group reiterated a “hold” rating on shares of Regeneron Pharmaceuticals in a report on Wednesday, August 17th. Vetr downgraded shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $419.76 target price on the stock. in a report on Monday, July 11th. Chardan Capital downgraded shares of Regeneron Pharmaceuticals to a “sell” rating and set a $325.00 target price on the stock. in a report on Wednesday, June 8th. Finally, Leerink Swann restated a “buy” rating and set a $530.00 price target on shares of Regeneron Pharmaceuticals in a report on Wednesday, September 21st. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $480.09.
Regeneron Pharmaceuticals (NASDAQ:REGN) opened at 392.60 on Tuesday. The firm has a market cap of $41.08 billion, a price-to-earnings ratio of 61.25 and a beta of 1.31. Regeneron Pharmaceuticals has a 12-month low of $329.09 and a 12-month high of $592.59. The company’s 50 day moving average is $403.07 and its 200 day moving average is $391.73.
Regeneron Pharmaceuticals (NASDAQ:REGN) last released its earnings results on Thursday, August 4th. The biopharmaceutical company reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.65 by $0.17. Regeneron Pharmaceuticals had a net margin of 15.65% and a return on equity of 23.77%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same period in the previous year, the firm earned $2.89 EPS. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. On average, equities analysts anticipate that Regeneron Pharmaceuticals will post $11.00 earnings per share for the current year.
In related news, Director Joseph L. Goldstein sold 2,125 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $425.00, for a total transaction of $903,125.00. Following the completion of the sale, the director now owns 15,125 shares in the company, valued at approximately $6,428,125. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 10.40% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in shares of Regeneron Pharmaceuticals by 32.3% in the second quarter. IFP Advisors Inc now owns 328 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 80 shares during the period. Advisory Services Network LLC raised its stake in shares of Regeneron Pharmaceuticals by 5,433.3% in the second quarter. Advisory Services Network LLC now owns 332 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 326 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Regeneron Pharmaceuticals during the second quarter worth approximately $140,000. Brave Asset Management Inc bought a new stake in shares of Regeneron Pharmaceuticals during the second quarter worth approximately $157,000. Finally, Bessemer Group Inc. raised its stake in shares of Regeneron Pharmaceuticals by 45.4% in the first quarter. Bessemer Group Inc. now owns 548 shares of the biopharmaceutical company’s stock worth $198,000 after buying an additional 171 shares in the last quarter. Institutional investors and hedge funds own 68.16% of the company’s stock.
Regeneron Pharmaceuticals Company Profile
Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company’s segment includes activities related to the discovery, development and commercialization of pharmaceutical products for the treatment of serious medical conditions.
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