Regeneron Pharmaceuticals (NASDAQ:REGN) Shares Gap Down After Analyst Downgrade

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) shares gapped down before the market opened on Monday after Truist Financial lowered their price target on the stock from $796.00 to $778.00. The stock had previously closed at $698.25, but opened at $615.93. Truist Financial currently has a buy rating on the stock. Regeneron Pharmaceuticals shares last traded at $617.4290, with a volume of 795,328 shares trading hands.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank Of Canada dropped their target price on shares of Regeneron Pharmaceuticals from $762.00 to $707.00 and set a “sector perform” rating for the company in a research report on Monday. Zacks Research cut shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Citigroup reiterated a “neutral” rating and set a $700.00 price target (down from $900.00) on shares of Regeneron Pharmaceuticals in a research report on Monday. Evercore lifted their price target on shares of Regeneron Pharmaceuticals from $750.00 to $875.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Finally, Guggenheim lifted their price target on shares of Regeneron Pharmaceuticals from $975.00 to $995.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Regeneron Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $805.78.

Insider Buying and Selling

In related news, Director Arthur F. Ryan sold 100 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $705.24, for a total transaction of $70,524.00. Following the completion of the transaction, the director owned 17,503 shares in the company, valued at approximately $12,343,815.72. The trade was a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Huda Y. Zoghbi sold 1,638 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $781.33, for a total transaction of $1,279,818.54. Following the transaction, the director owned 1,703 shares of the company’s stock, valued at approximately $1,330,604.99. This represents a 49.03% decrease in their position. The SEC filing for this sale provides additional information. 6.97% of the stock is currently owned by insiders.

Trending Headlines about Regeneron Pharmaceuticals

Here are the key news stories impacting Regeneron Pharmaceuticals this week:

• Negative Sentiment: Regeneron’s phase 3 melanoma trial for fianlimab failed to hit its main goal, a major clinical setback that hurt confidence in the drug pipeline. Reuters article
• Negative Sentiment: Several Wall Street firms lowered price targets, including Citi, Leerink Partners, Wells Fargo, RBC, JPMorgan, Piper Sandler and Truist, reflecting reduced expectations after the trial miss. Benzinga report
• Neutral Sentiment: Regeneron announced a strategic collaboration with Parabilis Medicines to develop Antibody-Helicon™ Conjugates, a potentially important long-term pipeline expansion, but the deal is early-stage and unlikely to offset the immediate trial disappointment. GlobeNewswire release
• Positive Sentiment: Even after the cuts, multiple analysts still maintained bullish or constructive ratings, with targets still implying meaningful upside from current levels. Benzinga report

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in Regeneron Pharmaceuticals in the fourth quarter valued at approximately $1,012,296,000. Price T Rowe Associates Inc. MD lifted its stake in Regeneron Pharmaceuticals by 142.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,949,797 shares of the biopharmaceutical company’s stock valued at $1,504,991,000 after buying an additional 1,144,887 shares in the last quarter. Nuveen LLC lifted its stake in Regeneron Pharmaceuticals by 71.1% in the fourth quarter. Nuveen LLC now owns 2,010,517 shares of the biopharmaceutical company’s stock valued at $1,551,858,000 after buying an additional 835,240 shares in the last quarter. Dodge & Cox lifted its stake in Regeneron Pharmaceuticals by 18.9% in the third quarter. Dodge & Cox now owns 4,550,845 shares of the biopharmaceutical company’s stock valued at $2,558,804,000 after buying an additional 724,562 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Regeneron Pharmaceuticals by 8,620.0% in the fourth quarter. Wellington Management Group LLP now owns 664,465 shares of the biopharmaceutical company’s stock valued at $512,881,000 after buying an additional 656,845 shares in the last quarter. Institutional investors and hedge funds own 83.31% of the company’s stock.

Regeneron Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 3.57 and a quick ratio of 2.96. The stock’s 50 day simple moving average is $744.69 and its two-hundred day simple moving average is $746.09. The stock has a market cap of $66.72 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 1.55 and a beta of 0.30.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings results on Wednesday, April 29th. The biopharmaceutical company reported $9.47 earnings per share for the quarter, beating analysts’ consensus estimates of $8.91 by $0.56. Regeneron Pharmaceuticals had a net margin of 29.65% and a return on equity of 13.16%. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.48 billion. During the same quarter in the previous year, the firm posted $8.22 earnings per share. The business’s revenue was up 19.0% on a year-over-year basis. As a group, research analysts forecast that Regeneron Pharmaceuticals, Inc. will post 37.1 EPS for the current year.

Regeneron Pharmaceuticals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Investors of record on Wednesday, May 20th will be issued a dividend of $0.94 per share. The ex-dividend date is Wednesday, May 20th. This represents a $3.76 dividend on an annualized basis and a dividend yield of 0.6%. Regeneron Pharmaceuticals’s dividend payout ratio (DPR) is presently 9.16%.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc (NASDAQ: REGN) is a U.S.-based biotechnology company founded in 1988 and headquartered in Tarrytown, New York. It focuses on discovering, developing, manufacturing and commercializing medicines for serious medical conditions. The company combines laboratory research, clinical development and in-house manufacturing to advance a pipeline of biologic therapies across multiple therapeutic areas.

Regeneron is known for its proprietary drug discovery technologies, including its VelocImmune platform, which is used to generate fully human monoclonal antibodies.