Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “Regeneron’s third-quarter results were impressive as both earnings and sales beat estimates driven by strong Eylea’s sales. Eylea continues to perform well. Dupixent launch in the United States for moderate-to-severe atopic dermatitis is progressing well. The drug was also approved in Europe. The geographic expansion of the drug will further boost sales. Moreover, the company is also looking to expand Dupixent’s label in uncontrolled asthma. The approval of new drugs like Kevzara and Dupixent provide a significant boost to the top-line and reduce the company’s dependence on Eylea for growth. Prospects of PCSK9 inhibitors, a new class of cholesterol-lowering treatments with blockbuster potential, gained instant popularity even before hitting the market. Shares have outperformed the industry so far in 2017. However, sales of Praluent have failed to impress payer utilization management restrictions in the United States.”
Several other equities analysts also recently weighed in on the company. J P Morgan Chase & Co reiterated a “hold” rating on shares of Regeneron Pharmaceuticals in a research report on Tuesday, October 31st. Barclays PLC downgraded Regeneron Pharmaceuticals from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $450.00 to $395.00 in a research report on Friday, October 20th. Guggenheim reiterated a “buy” rating and set a $540.00 target price on shares of Regeneron Pharmaceuticals in a research report on Monday, October 23rd. Morgan Stanley reiterated an “equal weight” rating and set a $490.00 target price (up from $450.00) on shares of Regeneron Pharmaceuticals in a research report on Friday, October 6th. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $484.00 target price (up from $421.00) on shares of Regeneron Pharmaceuticals in a research report on Friday, July 21st. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Regeneron Pharmaceuticals presently has a consensus rating of “Hold” and an average price target of $475.34.
Regeneron Pharmaceuticals (NASDAQ:REGN) last released its earnings results on Wednesday, November 8th. The biopharmaceutical company reported $3.99 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.83 by $0.16. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.45 billion. Regeneron Pharmaceuticals had a return on equity of 25.73% and a net margin of 23.17%. Regeneron Pharmaceuticals’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same period in the previous year, the business earned $3.13 earnings per share. sell-side analysts anticipate that Regeneron Pharmaceuticals will post 13.55 earnings per share for the current fiscal year.
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In other news, CFO Robert E. Landry sold 189 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $501.06, for a total transaction of $94,700.34. Following the transaction, the chief financial officer now owns 10,099 shares of the company’s stock, valued at $5,060,204.94. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael S. Brown sold 1,500 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $475.00, for a total value of $712,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,651 shares of company stock worth $36,285,438. Insiders own 10.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its stake in shares of Regeneron Pharmaceuticals by 20.6% during the second quarter. Oppenheimer & Co. Inc. now owns 7,007 shares of the biopharmaceutical company’s stock valued at $3,441,000 after buying an additional 1,199 shares during the last quarter. Dupont Capital Management Corp purchased a new stake in shares of Regeneron Pharmaceuticals in the second quarter valued at approximately $220,000. Shell Asset Management Co. boosted its holdings in shares of Regeneron Pharmaceuticals by 24.1% in the third quarter. Shell Asset Management Co. now owns 15,435 shares of the biopharmaceutical company’s stock valued at $5,565,000 after purchasing an additional 2,999 shares during the period. Blair William & Co. IL boosted its holdings in shares of Regeneron Pharmaceuticals by 4.8% in the second quarter. Blair William & Co. IL now owns 1,713 shares of the biopharmaceutical company’s stock valued at $841,000 after purchasing an additional 79 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Regeneron Pharmaceuticals by 2.4% in the second quarter. Principal Financial Group Inc. now owns 115,201 shares of the biopharmaceutical company’s stock valued at $56,580,000 after purchasing an additional 2,646 shares during the period. 67.80% of the stock is currently owned by hedge funds and other institutional investors.
About Regeneron Pharmaceuticals
Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company commercializes medicines for eye diseases, high low-density lipoprotein (LDL) cholesterol, and an inflammatory condition and have product candidates in development in other areas, including rheumatoid arthritis, asthma, atopic dermatitis, pain, cancer, and infectious diseases.
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