Regeneron Pharmaceuticals (NASDAQ:REGN) Price Target Raised to $1,057.00 at Canaccord Genuity Group

Regeneron Pharmaceuticals (NASDAQ:REGN) had its price target boosted by Canaccord Genuity Group from $850.00 to $1,057.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

Several other research firms also recently issued reports on REGN. Morgan Stanley downgraded shares of Regeneron Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $767.00 price objective on the stock. in a report on Wednesday. Bank of America raised their price target on shares of Regeneron Pharmaceuticals from $543.00 to $627.00 and gave the stock an “underperform” rating in a report on Wednesday, October 29th. Wells Fargo & Company lifted their price objective on shares of Regeneron Pharmaceuticals from $615.00 to $700.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 20th. Jefferies Financial Group boosted their price objective on shares of Regeneron Pharmaceuticals from $813.00 to $831.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Finally, Guggenheim raised their target price on Regeneron Pharmaceuticals from $815.00 to $865.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Three research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $777.36.

Regeneron Pharmaceuticals Price Performance

NASDAQ REGN opened at $722.80 on Thursday. The firm’s fifty day simple moving average is $647.61 and its two-hundred day simple moving average is $587.69. The firm has a market capitalization of $75.97 billion, a P/E ratio of 17.31, a P/E/G ratio of 2.07 and a beta of 0.37. The company has a current ratio of 4.06, a quick ratio of 3.33 and a debt-to-equity ratio of 0.09. Regeneron Pharmaceuticals has a 12-month low of $476.49 and a 12-month high of $800.99.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its earnings results on Tuesday, October 28th. The biopharmaceutical company reported $11.83 earnings per share for the quarter, topping the consensus estimate of $9.73 by $2.10. Regeneron Pharmaceuticals had a return on equity of 13.76% and a net margin of 32.13%.The firm had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the previous year, the business earned $12.46 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Analysts forecast that Regeneron Pharmaceuticals will post 35.92 EPS for the current fiscal year.

Regeneron Pharmaceuticals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 5th. Investors of record on Thursday, November 20th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, November 20th. This represents a $3.52 dividend on an annualized basis and a yield of 0.5%. Regeneron Pharmaceuticals’s payout ratio is currently 8.43%.

Insider Activity

In other news, VP Jason Pitofsky sold 431 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $651.43, for a total value of $280,766.33. Following the sale, the vice president owned 4,233 shares in the company, valued at $2,757,503.19. This represents a 9.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christine A. Poon sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $654.27, for a total value of $4,252,755.00. Following the sale, the director directly owned 2,352 shares in the company, valued at approximately $1,538,843.04. This trade represents a 73.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 7.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Regeneron Pharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Activest Wealth Management boosted its holdings in Regeneron Pharmaceuticals by 110.5% during the first quarter. Activest Wealth Management now owns 40 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 21 shares in the last quarter. Costello Asset Management INC acquired a new position in shares of Regeneron Pharmaceuticals in the first quarter worth about $27,000. Saudi Central Bank purchased a new stake in shares of Regeneron Pharmaceuticals during the 1st quarter worth about $27,000. Salomon & Ludwin LLC purchased a new stake in shares of Regeneron Pharmaceuticals during the 3rd quarter worth about $27,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Regeneron Pharmaceuticals in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 83.31% of the company’s stock.

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.