Regeneron Pharmaceuticals (NASDAQ:REGN) Shares Gap Up After Earnings Beat

Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $585.31, but opened at $612.02. Regeneron Pharmaceuticals shares last traded at $630.2710, with a volume of 629,314 shares traded.

The biopharmaceutical company reported $11.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.73 by $2.10. The company had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.57 billion. Regeneron Pharmaceuticals had a return on equity of 15.06% and a net margin of 31.37%.Regeneron Pharmaceuticals’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $12.46 EPS.

Regeneron Pharmaceuticals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 5th. Shareholders of record on Thursday, November 20th will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Thursday, November 20th. Regeneron Pharmaceuticals’s payout ratio is presently 8.87%.

Analysts Set New Price Targets

REGN has been the topic of several research reports. Raymond James Financial raised Regeneron Pharmaceuticals to a “moderate buy” rating in a research report on Tuesday, September 2nd. Morgan Stanley cut their price objective on Regeneron Pharmaceuticals from $761.00 to $756.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. Redburn Atlantic raised Regeneron Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, August 14th. Wells Fargo & Company cut Regeneron Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $580.00 price objective on the stock. in a research report on Friday, August 1st. Finally, UBS Group reaffirmed a “neutral” rating on shares of Regeneron Pharmaceuticals in a research report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Regeneron Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $802.35.

Institutional Trading of Regeneron Pharmaceuticals

A number of hedge funds have recently made changes to their positions in REGN. Activest Wealth Management lifted its position in Regeneron Pharmaceuticals by 110.5% in the 1st quarter. Activest Wealth Management now owns 40 shares of the biopharmaceutical company’s stock valued at $25,000 after acquiring an additional 21 shares in the last quarter. Costello Asset Management INC bought a new position in Regeneron Pharmaceuticals in the 1st quarter valued at approximately $27,000. Saudi Central Bank bought a new position in Regeneron Pharmaceuticals in the 1st quarter valued at approximately $27,000. Salomon & Ludwin LLC bought a new position in Regeneron Pharmaceuticals in the 3rd quarter valued at approximately $27,000. Finally, Colonial Trust Advisors bought a new position in Regeneron Pharmaceuticals in the 1st quarter valued at approximately $32,000. 83.31% of the stock is owned by institutional investors.

Regeneron Pharmaceuticals Price Performance

The firm has a market capitalization of $69.37 billion, a P/E ratio of 16.49, a PEG ratio of 1.82 and a beta of 0.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 3.72 and a current ratio of 4.60. The firm has a 50-day moving average of $578.20 and a 200-day moving average of $563.34.

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.