Leerink Partners Reaffirms Market Perform Rating for Regeneron Pharmaceuticals (NASDAQ:REGN)

Leerink Partners reaffirmed their market perform rating on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has a $1,077.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $1,175.00.

REGN has been the subject of a number of other research reports. JPMorgan Chase & Co. lifted their price target on Regeneron Pharmaceuticals from $1,150.00 to $1,200.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Piper Sandler lifted their target price on shares of Regeneron Pharmaceuticals from $1,166.00 to $1,242.00 and gave the company an overweight rating in a research report on Friday, August 23rd. Barclays increased their price target on shares of Regeneron Pharmaceuticals from $1,200.00 to $1,220.00 and gave the stock an overweight rating in a report on Friday, August 2nd. Canaccord Genuity Group reiterated a buy rating and issued a $1,152.00 target price on shares of Regeneron Pharmaceuticals in a research report on Thursday, June 27th. Finally, Argus raised their price target on Regeneron Pharmaceuticals from $1,060.00 to $1,170.00 and gave the company a buy rating in a research report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Regeneron Pharmaceuticals currently has an average rating of Moderate Buy and a consensus target price of $1,118.62.

Regeneron Pharmaceuticals Price Performance

Shares of NASDAQ:REGN opened at $1,039.96 on Tuesday. The company has a 50 day moving average of $1,129.87 and a 200 day moving average of $1,033.99. The company has a current ratio of 5.44, a quick ratio of 4.62 and a debt-to-equity ratio of 0.10. The stock has a market cap of $114.59 billion, a P/E ratio of 30.72, a P/E/G ratio of 3.72 and a beta of 0.12. Regeneron Pharmaceuticals has a 12 month low of $769.19 and a 12 month high of $1,211.20.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported $11.56 earnings per share for the quarter, topping the consensus estimate of $8.93 by $2.63. Regeneron Pharmaceuticals had a net margin of 32.04% and a return on equity of 16.80%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the firm posted $8.79 earnings per share. The business’s quarterly revenue was up 12.3% on a year-over-year basis. As a group, sell-side analysts forecast that Regeneron Pharmaceuticals will post 37.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Christopher R. Fenimore sold 5,680 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total transaction of $6,846,274.40. Following the transaction, the chief financial officer now owns 15,305 shares in the company, valued at $18,447,575.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Christopher R. Fenimore sold 5,680 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the completion of the transaction, the chief financial officer now owns 15,305 shares in the company, valued at approximately $18,447,575.65. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Marion Mccourt sold 1,137 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $1,047.11, for a total value of $1,190,564.07. Following the completion of the sale, the executive vice president now directly owns 12,931 shares in the company, valued at $13,540,179.41. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,270 shares of company stock worth $10,695,833. 7.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of REGN. Greater Midwest Financial Group LLC grew its stake in shares of Regeneron Pharmaceuticals by 8.8% during the 2nd quarter. Greater Midwest Financial Group LLC now owns 2,502 shares of the biopharmaceutical company’s stock valued at $2,894,000 after purchasing an additional 203 shares during the period. Centaurus Financial Inc. purchased a new position in shares of Regeneron Pharmaceuticals in the second quarter worth approximately $118,000. Prio Wealth Limited Partnership bought a new stake in Regeneron Pharmaceuticals during the second quarter valued at approximately $210,000. Sanctuary Advisors LLC purchased a new stake in Regeneron Pharmaceuticals during the second quarter valued at approximately $47,611,000. Finally, Kestra Investment Management LLC bought a new position in Regeneron Pharmaceuticals in the second quarter worth approximately $437,000. Institutional investors own 83.31% of the company’s stock.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.