Regeneron Pharmaceuticals (NASDAQ:REGN) Upgraded by Wolfe Research to “Strong-Buy” Rating

Wolfe Research upgraded shares of Regeneron Pharmaceuticals (NASDAQ:REGN) to a strong-buy rating in a research note released on Thursday morning,Zacks.com reports.

REGN has been the subject of a number of other reports. Piper Sandler lowered their price target on shares of Regeneron Pharmaceuticals from $1,242.00 to $1,195.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. Leerink Partners reaffirmed a “market perform” rating and set a $1,077.00 price target (down previously from $1,175.00) on shares of Regeneron Pharmaceuticals in a report on Tuesday, September 24th. Citigroup initiated coverage on shares of Regeneron Pharmaceuticals in a report on Thursday. They set a “neutral” rating and a $895.00 price objective for the company. BMO Capital Markets reduced their price objective on Regeneron Pharmaceuticals from $1,300.00 to $1,190.00 and set an “outperform” rating on the stock in a research note on Friday, November 1st. Finally, Guggenheim raised their price target on Regeneron Pharmaceuticals from $1,180.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Regeneron Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $1,099.55.

Regeneron Pharmaceuticals Trading Down 3.3 %

Shares of REGN stock traded down $25.70 during mid-day trading on Thursday, reaching $756.81. The stock had a trading volume of 1,374,549 shares, compared to its average volume of 530,457. The firm has a market capitalization of $83.17 billion, a PE ratio of 18.73, a price-to-earnings-growth ratio of 3.04 and a beta of 0.15. Regeneron Pharmaceuticals has a 52-week low of $753.69 and a 52-week high of $1,211.20. The stock’s 50-day moving average price is $985.21 and its two-hundred day moving average price is $1,032.97. The company has a current ratio of 5.28, a quick ratio of 4.46 and a debt-to-equity ratio of 0.09.

Insider Buying and Selling at Regeneron Pharmaceuticals

In other news, CFO Christopher R. Fenimore sold 5,680 shares of Regeneron Pharmaceuticals stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the completion of the transaction, the chief financial officer now owns 15,305 shares of the company’s stock, valued at $18,447,575.65. The trade was a 27.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 7.48% of the company’s stock.

Hedge Funds Weigh In On Regeneron Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Vestcor Inc grew its stake in Regeneron Pharmaceuticals by 3.1% during the 3rd quarter. Vestcor Inc now owns 21,590 shares of the biopharmaceutical company’s stock worth $22,696,000 after buying an additional 654 shares during the last quarter. M&T Bank Corp increased its stake in shares of Regeneron Pharmaceuticals by 4.3% during the third quarter. M&T Bank Corp now owns 5,480 shares of the biopharmaceutical company’s stock worth $5,761,000 after purchasing an additional 224 shares in the last quarter. Groupama Asset Managment lifted its holdings in Regeneron Pharmaceuticals by 7.0% in the 3rd quarter. Groupama Asset Managment now owns 71,277 shares of the biopharmaceutical company’s stock valued at $74,929,000 after purchasing an additional 4,648 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in shares of Regeneron Pharmaceuticals by 4.5% in the third quarter. Nomura Asset Management Co. Ltd. now owns 86,004 shares of the biopharmaceutical company’s stock valued at $90,411,000 after purchasing an additional 3,698 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Regeneron Pharmaceuticals during the third quarter worth about $9,908,000. 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.