Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target Raised to $340.00 at Credit Suisse Group

Regeneron Pharmaceuticals (NASDAQ:REGN) had its target price hoisted by Credit Suisse Group from $310.00 to $340.00 in a research note released on Wednesday morning, The Fly reports. The firm currently has a neutral rating on the biopharmaceutical company’s stock.

Several other brokerages also recently commented on REGN. BidaskClub upgraded shares of Regeneron Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, October 25th. Cowen set a $349.00 price objective on shares of Regeneron Pharmaceuticals and gave the company a hold rating in a research report on Tuesday, October 8th. Bank of America started coverage on shares of Regeneron Pharmaceuticals in a research report on Wednesday, October 16th. They set a neutral rating and a $325.00 price objective on the stock. ValuEngine downgraded shares of Regeneron Pharmaceuticals from a hold rating to a sell rating in a research report on Friday, October 25th. Finally, Robert W. Baird upgraded shares of Regeneron Pharmaceuticals from a neutral rating to an outperform rating and set a $410.00 price objective on the stock in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $392.06.

Shares of NASDAQ:REGN traded up $15.40 during trading on Wednesday, reaching $341.79. 1,106,100 shares of the stock traded hands, compared to its average volume of 772,436. The stock has a market cap of $36.53 billion, a P/E ratio of 17.26, a price-to-earnings-growth ratio of 1.46 and a beta of 1.14. Regeneron Pharmaceuticals has a 52-week low of $271.37 and a 52-week high of $442.00. The stock has a 50-day moving average of $298.74 and a two-hundred day moving average of $304.30. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.11 and a current ratio of 2.91.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported $6.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.13 by $1.54. The firm had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.98 billion. Regeneron Pharmaceuticals had a net margin of 28.13% and a return on equity of 24.85%. The company’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm earned $5.87 EPS. Sell-side analysts expect that Regeneron Pharmaceuticals will post 18.91 earnings per share for the current year.

Regeneron Pharmaceuticals declared that its board has authorized a stock buyback plan on Tuesday, November 5th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the biopharmaceutical company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

In other Regeneron Pharmaceuticals news, major shareholder Sanofi sold 172,904 shares of Regeneron Pharmaceuticals stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $281.15, for a total value of $48,611,959.60. Also, Director Joseph L. Goldstein sold 1,000 shares of Regeneron Pharmaceuticals stock in a transaction on Friday, November 8th. The stock was sold at an average price of $340.44, for a total transaction of $340,440.00. Following the completion of the transaction, the director now directly owns 10,323 shares of the company’s stock, valued at $3,514,362.12. The disclosure for this sale can be found here. Company insiders own 11.84% of the company’s stock.

Large investors have recently modified their holdings of the business. Accurate Investment Solutions Inc. purchased a new position in shares of Regeneron Pharmaceuticals in the 2nd quarter worth $31,000. HM Payson & Co. purchased a new position in shares of Regeneron Pharmaceuticals in the 2nd quarter worth $31,000. Bridger Capital Management LLC purchased a new position in shares of Regeneron Pharmaceuticals in the 3rd quarter worth $30,000. Coastal Capital Group Inc. purchased a new position in shares of Regeneron Pharmaceuticals in the 2nd quarter worth $38,000. Finally, Focused Wealth Management Inc grew its stake in shares of Regeneron Pharmaceuticals by 1,333.3% in the 2nd quarter. Focused Wealth Management Inc now owns 129 shares of the biopharmaceutical company’s stock worth $40,000 after buying an additional 120 shares in the last quarter. 66.56% of the stock is owned by institutional investors and hedge funds.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for treating various medical conditions worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema (DME); myopic choroidal neovascularization; and diabetic retinopathy in patients with DME, as well as macular edema following retinal vein occlusion, including macular edema following central retinal vein occlusion and macular edema following branch retinal vein occlusion.

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