Royal Bank of Canada Issues Pessimistic Forecast for Regeneron Pharmaceuticals (NASDAQ:REGN) Stock Price

Regeneron Pharmaceuticals (NASDAQ:REGNFree Report) had its price objective reduced by Royal Bank of Canada from $1,260.00 to $1,215.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the biopharmaceutical company’s stock.

A number of other equities analysts have also weighed in on the stock. Piper Sandler reduced their target price on shares of Regeneron Pharmaceuticals from $1,242.00 to $1,195.00 and set an “overweight” rating for the company in a research note on Friday. Guggenheim increased their price objective on Regeneron Pharmaceuticals from $1,180.00 to $1,300.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Evercore ISI cut their target price on Regeneron Pharmaceuticals from $1,250.00 to $1,175.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley decreased their price target on shares of Regeneron Pharmaceuticals from $1,235.00 to $1,184.00 and set an “overweight” rating for the company in a research note on Friday. Finally, BMO Capital Markets lowered their price objective on shares of Regeneron Pharmaceuticals from $1,300.00 to $1,190.00 and set an “outperform” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,097.25.

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Regeneron Pharmaceuticals Stock Performance

Shares of REGN stock opened at $828.84 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.62 and a current ratio of 5.99. Regeneron Pharmaceuticals has a 52 week low of $783.57 and a 52 week high of $1,211.20. The company’s 50 day moving average price is $1,051.02 and its two-hundred day moving average price is $1,040.40. The company has a market capitalization of $91.37 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 2.88 and a beta of 0.15.

Insider Buying and Selling at Regeneron Pharmaceuticals

In other news, CFO Christopher R. Fenimore sold 5,680 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $1,205.33, for a total transaction of $6,846,274.40. Following the completion of the sale, the chief financial officer now owns 15,305 shares in the company, valued at $18,447,575.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Regeneron Pharmaceuticals news, VP Jason Pitofsky sold 487 shares of the business’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $1,070.00, for a total value of $521,090.00. Following the completion of the sale, the vice president now owns 4,204 shares of the company’s stock, valued at $4,498,280. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Christopher R. Fenimore sold 5,680 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $1,205.33, for a total transaction of $6,846,274.40. Following the transaction, the chief financial officer now owns 15,305 shares in the company, valued at approximately $18,447,575.65. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.48% of the company’s stock.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in REGN. International Assets Investment Management LLC increased its position in shares of Regeneron Pharmaceuticals by 86,013.3% in the third quarter. International Assets Investment Management LLC now owns 880,939 shares of the biopharmaceutical company’s stock worth $926,078,000 after purchasing an additional 879,916 shares during the period. Capital International Investors raised its position in shares of Regeneron Pharmaceuticals by 7.3% in the 1st quarter. Capital International Investors now owns 3,129,010 shares of the biopharmaceutical company’s stock valued at $3,011,640,000 after buying an additional 213,038 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Regeneron Pharmaceuticals by 25.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 902,613 shares of the biopharmaceutical company’s stock worth $868,757,000 after acquiring an additional 184,561 shares during the period. TD Asset Management Inc boosted its position in shares of Regeneron Pharmaceuticals by 162.9% during the 1st quarter. TD Asset Management Inc now owns 269,511 shares of the biopharmaceutical company’s stock worth $259,402,000 after acquiring an additional 166,998 shares in the last quarter. Finally, Swedbank AB acquired a new stake in shares of Regeneron Pharmaceuticals during the 1st quarter worth approximately $129,257,000. Institutional investors own 83.31% of the company’s stock.

Regeneron Pharmaceuticals Company Profile

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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.

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