Royal Bank of Canada Cuts Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target to $1,215.00

Regeneron Pharmaceuticals (NASDAQ:REGN) had its price target cut by Royal Bank of Canada from $1,260.00 to $1,215.00 in a report issued on Friday morning, Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

REGN has been the subject of several other reports. Truist Financial lowered their target price on Regeneron Pharmaceuticals from $1,137.00 to $1,126.00 and set a “buy” rating for the company in a research report on Friday. BMO Capital Markets lowered their price objective on Regeneron Pharmaceuticals from $1,300.00 to $1,190.00 and set an “outperform” rating for the company in a research report on Friday. Leerink Partners reaffirmed 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. TD Cowen increased their target price on shares of Regeneron Pharmaceuticals from $1,030.00 to $1,200.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Finally, Evercore ISI dropped their price target on shares of Regeneron Pharmaceuticals from $1,250.00 to $1,175.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,097.25.

Regeneron Pharmaceuticals Stock Up 0.6 %

Shares of NASDAQ REGN opened at $843.60 on Friday. The company has a 50 day simple moving average of $1,058.43 and a 200 day simple moving average of $1,040.85. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.99 and a quick ratio of 4.62. Regeneron Pharmaceuticals has a 1 year low of $783.57 and a 1 year high of $1,211.20. The firm has a market cap of $93.00 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 2.88 and a beta of 0.15.

Regeneron Pharmaceuticals (NASDAQ:REGN) last released its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported $11.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.93 by $2.63. Regeneron Pharmaceuticals had a net margin of 33.61% and a return on equity of 16.88%. The firm had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter last year, the firm earned $8.79 earnings per share. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, research analysts forecast that Regeneron Pharmaceuticals will post 37.46 EPS for the current year.

Insider Buying and Selling

In other Regeneron Pharmaceuticals news, VP Jason Pitofsky sold 487 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $1,070.00, for a total transaction of $521,090.00. Following the transaction, the vice president now owns 4,204 shares in the company, valued at approximately $4,498,280. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction, the chief financial officer now owns 15,305 shares in the company, valued at $18,447,575.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jason Pitofsky sold 487 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $1,070.00, for a total value of $521,090.00. Following the sale, the vice president now owns 4,204 shares of the company’s stock, valued at $4,498,280. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.48% of the stock is owned by company insiders.

Institutional Trading of Regeneron Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Regeneron Pharmaceuticals by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 8,930,241 shares of the biopharmaceutical company’s stock worth $8,595,268,000 after purchasing an additional 91,956 shares in the last quarter. Capital International Investors increased its position in shares of Regeneron Pharmaceuticals by 7.3% during the first quarter. Capital International Investors now owns 3,129,010 shares of the biopharmaceutical company’s stock valued at $3,011,640,000 after acquiring an additional 213,038 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Regeneron Pharmaceuticals by 25.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 902,613 shares of the biopharmaceutical company’s stock valued at $868,757,000 after acquiring an additional 184,561 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in Regeneron Pharmaceuticals by 86,013.3% during the third quarter. International Assets Investment Management LLC now owns 880,939 shares of the biopharmaceutical company’s stock worth $926,078,000 after acquiring an additional 879,916 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Regeneron Pharmaceuticals by 12.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 540,293 shares of the biopharmaceutical company’s stock worth $567,864,000 after purchasing an additional 59,769 shares during the last quarter. Institutional investors own 83.31% of the company’s stock.

About Regeneron Pharmaceuticals

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.