Regeneron Pharmaceuticals (NASDAQ:REGN) Given New $1,004.00 Price Target at Truist Financial

Regeneron Pharmaceuticals (NASDAQ:REGN) had its target price cut by equities researchers at Truist Financial from $1,126.00 to $1,004.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Truist Financial’s price objective suggests a potential upside of 36.86% from the stock’s previous close.

Several other brokerages have also issued reports on REGN. Wolfe Research began coverage on shares of Regeneron Pharmaceuticals in a report on Friday, November 15th. They issued an “outperform” rating and a $1,150.00 price target on the stock. Piper Sandler dropped their price target on shares of Regeneron Pharmaceuticals from $1,242.00 to $1,195.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Leerink Partnrs downgraded Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Leerink Partners reiterated a “market perform” rating and issued a $1,077.00 price objective (down from $1,175.00) on shares of Regeneron Pharmaceuticals in a research note on Tuesday, September 24th. Finally, Bank of America restated an “underperform” rating and set a $565.00 target price on shares of Regeneron Pharmaceuticals in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Regeneron Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $1,044.48.

Regeneron Pharmaceuticals Price Performance

Shares of NASDAQ:REGN opened at $733.59 on Wednesday. The business’s 50 day moving average is $754.37 and its 200-day moving average is $965.13. The company has a current ratio of 5.28, a quick ratio of 4.46 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $80.61 billion, a PE ratio of 18.15, a PEG ratio of 2.19 and a beta of 0.10. Regeneron Pharmaceuticals has a 1-year low of $693.00 and a 1-year high of $1,211.20.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

Large investors have recently made changes to their positions in the company. Rakuten Securities Inc. increased its position in Regeneron Pharmaceuticals by 380.0% in the third quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company’s stock worth $25,000 after purchasing an additional 19 shares during the period. Sachetta LLC boosted its stake in Regeneron Pharmaceuticals by 71.4% in the second quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 10 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in Regeneron Pharmaceuticals during the 3rd quarter worth $26,000. Fairfield Financial Advisors LTD bought a new stake in shares of Regeneron Pharmaceuticals during the 3rd quarter valued at $37,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Regeneron Pharmaceuticals in the 2nd quarter valued at $39,000. Institutional investors and hedge funds 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.