Piper Sandler Increases Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target to $690.00

Regeneron Pharmaceuticals (NASDAQ:REGN) had its target price lifted by equities researchers at Piper Sandler from $675.00 to $690.00 in a report issued on Wednesday, The Fly reports. The brokerage presently has an “overweight” rating on the biopharmaceutical company’s stock. Piper Sandler’s price target would suggest a potential upside of 5.85% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley lifted their price objective on Regeneron Pharmaceuticals from $576.00 to $606.00 and gave the company an “equal weight” rating in a report on Tuesday, September 7th. Benchmark lifted their price objective on Regeneron Pharmaceuticals from $636.00 to $727.00 and gave the company a “buy” rating in a report on Monday, August 23rd. HC Wainwright lifted their price objective on Regeneron Pharmaceuticals from $787.00 to $831.00 and gave the company a “buy” rating in a report on Wednesday. Barclays lifted their target price on Regeneron Pharmaceuticals from $675.00 to $705.00 and gave the company an “overweight” rating in a research report on Friday, August 6th. Finally, UBS Group assumed coverage on Regeneron Pharmaceuticals in a research report on Thursday, September 9th. They issued a “buy” rating and a $763.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $691.65.

REGN traded up $6.71 during midday trading on Wednesday, reaching $651.86. 17,626 shares of the company were exchanged, compared to its average volume of 873,323. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.04 and a current ratio of 3.57. Regeneron Pharmaceuticals has a one year low of $441.00 and a one year high of $686.62. The stock has a market capitalization of $69.72 billion, a P/E ratio of 11.70, a PEG ratio of 0.77 and a beta of 0.16. The stock’s 50-day simple moving average is $621.16 and its 200 day simple moving average is $542.85.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its earnings results on Thursday, August 5th. The biopharmaceutical company reported $25.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $8.81 by $16.99. Regeneron Pharmaceuticals had a return on equity of 50.43% and a net margin of 50.11%. The firm had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $3.90 billion. On average, research analysts anticipate that Regeneron Pharmaceuticals will post 51.91 earnings per share for the current year.

In related news, Director George L. Sing sold 1,000 shares of the business’s stock in a transaction on Monday, August 30th. The stock was sold at an average price of $672.50, for a total value of $672,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Leonard S. Schleifer sold 200,000 shares of the business’s stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $650.03, for a total value of $130,006,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 367,388 shares of company stock worth $226,431,216 over the last three months. 11.84% of the stock is owned by insiders.

Several large investors have recently added to or reduced their stakes in the company. Parametric Portfolio Associates LLC lifted its position in shares of Regeneron Pharmaceuticals by 5.6% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 253,770 shares of the biopharmaceutical company’s stock valued at $141,741,000 after acquiring an additional 13,514 shares during the period. BDO Wealth Advisors LLC lifted its position in shares of Regeneron Pharmaceuticals by 1,296.4% during the 2nd quarter. BDO Wealth Advisors LLC now owns 2,751 shares of the biopharmaceutical company’s stock valued at $1,537,000 after acquiring an additional 2,554 shares during the period. B. Metzler seel. Sohn & Co. Holding AG lifted its position in shares of Regeneron Pharmaceuticals by 4.9% during the 2nd quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 7,702 shares of the biopharmaceutical company’s stock valued at $4,302,000 after acquiring an additional 361 shares during the period. Integral Health Asset Management LLC bought a new stake in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at $10,333,000. Finally, Endurant Capital Management LP bought a new stake in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at $3,107,000. Hedge funds and other institutional investors own 82.31% of the company’s stock.

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc is a biotechnology company, which engages in the discovery, invention, development, manufacture, and commercialization of medicines. It product portfolio includes the following brands: EYLEA, Dupixent, Praluent, Kevzara, Libtayo, ARCALYST, and ZALTRAP. The firm accelerates the traditional drug development process through its proprietary VelociSuite technologies such as VelocImmune, which uses unique genetically-humanized mice to produce optimized fully-human antibodies and bispecific antibodies.

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