Citigroup Initiates Coverage on Regeneron Pharmaceuticals (NASDAQ:REGN)

Citigroup initiated coverage on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) in a report released on Thursday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $895.00 price objective on the biopharmaceutical company’s stock.

A number of other equities analysts have also recently commented on REGN. Morgan Stanley dropped 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, November 1st. Oppenheimer dropped their price target on shares of Regeneron Pharmaceuticals from $1,150.00 to $1,000.00 and set an “outperform” rating for the company in a research note on Wednesday, November 6th. Evercore ISI dropped their price target on shares of Regeneron Pharmaceuticals from $1,250.00 to $1,175.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. TD Cowen lifted their price target on shares of Regeneron Pharmaceuticals from $1,030.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Finally, Leerink Partnrs cut shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,099.55.

Regeneron Pharmaceuticals Stock Performance

Shares of NASDAQ:REGN opened at $756.81 on Thursday. Regeneron Pharmaceuticals has a 52 week low of $753.69 and a 52 week high of $1,211.20. The company has a quick ratio of 4.46, a current ratio of 5.28 and a debt-to-equity ratio of 0.09. The firm has a fifty day simple moving average of $985.21 and a two-hundred day simple moving average of $1,034.89. The stock has a market capitalization of $83.17 billion, a P/E ratio of 18.73, a PEG ratio of 2.86 and a beta of 0.15.

Insider Buying and Selling

In related news, CFO Christopher R. Fenimore sold 5,680 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total transaction of $6,846,274.40. Following the completion of the transaction, the chief financial officer now owns 15,305 shares in the company, valued at $18,447,575.65. The trade was a 27.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.48% of the stock is currently owned by company insiders.

Institutional Trading of Regeneron Pharmaceuticals

Large investors have recently bought and sold shares of the stock. SteelPeak Wealth LLC grew its position in Regeneron Pharmaceuticals by 173.0% during the 2nd quarter. SteelPeak Wealth LLC now owns 1,092 shares of the biopharmaceutical company’s stock worth $1,148,000 after purchasing an additional 692 shares during the last quarter. Atria Investments Inc grew its position in Regeneron Pharmaceuticals by 12.2% during the 1st quarter. Atria Investments Inc now owns 8,657 shares of the biopharmaceutical company’s stock worth $8,317,000 after purchasing an additional 941 shares during the last quarter. Tri Locum Partners LP grew its position in Regeneron Pharmaceuticals by 104.5% during the 2nd quarter. Tri Locum Partners LP now owns 17,516 shares of the biopharmaceutical company’s stock worth $18,410,000 after purchasing an additional 8,949 shares during the last quarter. Tidal Investments LLC grew its position in Regeneron Pharmaceuticals by 16.8% during the 1st quarter. Tidal Investments LLC now owns 4,955 shares of the biopharmaceutical company’s stock worth $4,774,000 after purchasing an additional 711 shares during the last quarter. Finally, Catalytic Wealth RIA LLC purchased a new stake in Regeneron Pharmaceuticals during the 3rd quarter worth approximately $1,334,000. Hedge funds and other institutional investors own 83.31% of the company’s stock.

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.