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

Regeneron Pharmaceuticals (NASDAQ:REGN)‘s stock had its “buy” rating reissued by investment analysts at Canaccord Genuity Group in a note issued to investors on Thursday,Benzinga reports. They currently have a $850.00 price target on the biopharmaceutical company’s stock. Canaccord Genuity Group’s price target would suggest a potential upside of 47.07% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Truist Financial lowered their price objective on shares of Regeneron Pharmaceuticals from $940.00 to $812.00 and set a “buy” rating for the company in a research report on Monday, August 11th. Sanford C. Bernstein increased their target price on shares of Regeneron Pharmaceuticals from $753.00 to $781.00 and gave the company an “outperform” rating in a research note on Wednesday, August 27th. Redburn Atlantic raised shares of Regeneron Pharmaceuticals to a “strong-buy” rating in a research note on Thursday, August 14th. UBS Group restated a “neutral” rating on shares of Regeneron Pharmaceuticals in a research report on Friday, August 1st. Finally, BMO Capital Markets upped their price target on shares of Regeneron Pharmaceuticals from $600.00 to $640.00 and gave the company an “outperform” rating in a research report on Monday, August 4th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $802.35.

Regeneron Pharmaceuticals Stock Up 0.4%

Shares of NASDAQ REGN opened at $577.95 on Thursday. The company has a quick ratio of 3.72, a current ratio of 4.60 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $61.26 billion, a PE ratio of 14.57, a P/E/G ratio of 1.79 and a beta of 0.31. The firm has a fifty day moving average of $576.32 and a 200-day moving average of $562.58. Regeneron Pharmaceuticals has a 52-week low of $476.49 and a 52-week high of $943.83.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its quarterly earnings data on Friday, August 1st. The biopharmaceutical company reported $12.89 EPS for the quarter, topping analysts’ consensus estimates of $8.43 by $4.46. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.30 billion. Regeneron Pharmaceuticals had a net margin of 31.37% and a return on equity of 15.06%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $11.56 EPS. On average, analysts anticipate that Regeneron Pharmaceuticals will post 35.92 EPS for the current year.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

A number of large investors have recently modified their holdings of the stock. Dodge & Cox increased its position in Regeneron Pharmaceuticals by 64.6% in the second quarter. Dodge & Cox now owns 3,826,283 shares of the biopharmaceutical company’s stock worth $2,008,799,000 after purchasing an additional 1,502,198 shares during the period. Norges Bank bought a new position in Regeneron Pharmaceuticals in the second quarter valued at approximately $628,151,000. Nuveen LLC bought a new position in Regeneron Pharmaceuticals in the first quarter valued at approximately $343,764,000. Pacer Advisors Inc. boosted its stake in Regeneron Pharmaceuticals by 2,296.9% in the first quarter. Pacer Advisors Inc. now owns 407,370 shares of the biopharmaceutical company’s stock valued at $258,366,000 after acquiring an additional 390,374 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Regeneron Pharmaceuticals by 234.7% in the second quarter. Acadian Asset Management LLC now owns 465,740 shares of the biopharmaceutical company’s stock valued at $244,480,000 after acquiring an additional 326,583 shares during the last quarter. 83.31% of the stock is currently owned by institutional investors and hedge funds.

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.