Canaccord Genuity Group Downgrades Regeneron Pharmaceuticals (NASDAQ:REGN) to Hold

Regeneron Pharmaceuticals (NASDAQ:REGN) was downgraded by analysts at Canaccord Genuity Group from a “strong-buy” rating to a “hold” rating in a research report issued on Tuesday,Zacks.com reports.

Other analysts also recently issued research reports about the company. StockNews.com downgraded Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Monday, November 4th. Bank of America reiterated an “underperform” rating and issued a $565.00 price target on shares of Regeneron Pharmaceuticals in a research report on Tuesday, December 10th. Evercore ISI reduced their price objective on shares of Regeneron Pharmaceuticals from $1,250.00 to $1,175.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Oppenheimer dropped their target price on shares of Regeneron Pharmaceuticals from $1,150.00 to $1,000.00 and set an “outperform” rating on the stock in a report on Wednesday, November 6th. Finally, Truist Financial reduced their target price on shares of Regeneron Pharmaceuticals from $1,137.00 to $1,126.00 and set a “buy” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Regeneron Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,052.90.

Regeneron Pharmaceuticals Trading Up 2.1 %

NASDAQ:REGN opened at $740.01 on Tuesday. The stock has a market cap of $81.32 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 2.19 and a beta of 0.08. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.46 and a current ratio of 5.28. Regeneron Pharmaceuticals has a 1 year low of $721.08 and a 1 year high of $1,211.20. The business has a fifty day moving average of $839.04 and a 200-day moving average of $1,000.86.

Institutional Trading of Regeneron Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of REGN. Rakuten Securities Inc. raised its holdings in shares of Regeneron Pharmaceuticals by 380.0% during the 3rd quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. Stephens Consulting LLC acquired a new position in Regeneron Pharmaceuticals during the second quarter worth $26,000. Sachetta LLC raised its holdings in Regeneron Pharmaceuticals by 71.4% during the second quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 10 shares in the last quarter. FSA Wealth Management LLC bought a new stake in shares of Regeneron Pharmaceuticals during the 3rd quarter worth about $26,000. Finally, Family Firm Inc. acquired a new position in shares of Regeneron Pharmaceuticals during the 2nd quarter valued at about $33,000. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

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.