Canaccord Genuity Group Reiterates “Buy” Rating for Regeneron Pharmaceuticals (NASDAQ:REGN)

Canaccord Genuity Group reissued their buy rating on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) in a report published on Thursday morning, Benzinga reports. The firm currently has a $1,152.00 price objective on the biopharmaceutical company’s stock.

Several other research analysts have also commented on REGN. JPMorgan Chase & Co. raised their price objective on shares of Regeneron Pharmaceuticals from $1,050.00 to $1,150.00 and gave the company an overweight rating in a research note on Monday, June 17th. Sanford C. Bernstein began coverage on shares of Regeneron Pharmaceuticals in a research note on Tuesday, March 12th. They issued an outperform rating and a $1,125.00 price target for the company. TD Cowen increased their price objective on Regeneron Pharmaceuticals from $1,020.00 to $1,030.00 and gave the company a buy rating in a research note on Wednesday, April 24th. UBS Group boosted their target price on Regeneron Pharmaceuticals from $1,090.00 to $1,099.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Finally, StockNews.com downgraded Regeneron Pharmaceuticals from a strong-buy rating to a buy rating in a report on Tuesday, April 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $1,027.55.

Regeneron Pharmaceuticals Stock Up 0.0 %

Shares of NASDAQ REGN opened at $1,051.03 on Thursday. Regeneron Pharmaceuticals has a 1 year low of $688.52 and a 1 year high of $1,081.17. The company has a market capitalization of $115.81 billion, a P/E ratio of 31.05, a P/E/G ratio of 2.17 and a beta of 0.13. The company has a 50 day simple moving average of $984.27 and a 200-day simple moving average of $951.53. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.27 and a quick ratio of 4.51.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Thursday, May 2nd. The biopharmaceutical company reported $7.97 earnings per share for the quarter, missing the consensus estimate of $8.46 by ($0.49). Regeneron Pharmaceuticals had a return on equity of 16.83% and a net margin of 29.45%. The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.19 billion. On average, equities research analysts predict that Regeneron Pharmaceuticals will post 37.23 earnings per share for the current year.

Insider Activity

In related news, Director Bonnie L. Bassler sold 827 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $1,011.00, for a total transaction of $836,097.00. Following the transaction, the director now directly owns 1,382 shares in the company, valued at $1,397,202. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Bonnie L. Bassler sold 827 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $1,011.00, for a total transaction of $836,097.00. Following the sale, the director now owns 1,382 shares in the company, valued at $1,397,202. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Leonard S. Schleifer sold 25,000 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $979.25, for a total value of $24,481,250.00. Following the completion of the transaction, the chief executive officer now owns 408,200 shares of the company’s stock, valued at $399,729,850. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,971 shares of company stock worth $61,217,654. 7.48% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. West Paces Advisors Inc. lifted its position in Regeneron Pharmaceuticals by 575.0% in the 1st quarter. West Paces Advisors Inc. now owns 27 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 23 shares during the last quarter. Crewe Advisors LLC acquired a new stake in shares of Regeneron Pharmaceuticals in the first quarter valued at approximately $28,000. Fortitude Family Office LLC bought a new stake in shares of Regeneron Pharmaceuticals during the fourth quarter valued at approximately $31,000. MCF Advisors LLC boosted its position in shares of Regeneron Pharmaceuticals by 50.0% during the fourth quarter. MCF Advisors LLC now owns 36 shares of the biopharmaceutical company’s stock worth $32,000 after buying an additional 12 shares during the period. Finally, BOK Financial Private Wealth Inc. bought a new position in Regeneron Pharmaceuticals in the 1st quarter worth approximately $37,000. 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.