Regeneron Pharmaceuticals (NASDAQ:REGN) Receives New Coverage from Analysts at SunTrust Banks

Analysts at SunTrust Banks initiated coverage on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) in a note issued to investors on Tuesday, The Fly reports. The brokerage set a “hold” rating and a $360.00 price target on the biopharmaceutical company’s stock. SunTrust Banks’ price target would indicate a potential upside of 4.92% from the company’s current price.

Other research analysts also recently issued reports about the company. BMO Capital Markets upped their price target on Regeneron Pharmaceuticals from $344.00 to $358.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 6th. Zacks Investment Research raised Regeneron Pharmaceuticals from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a research note on Monday. Piper Jaffray Companies set a $435.00 price target on Regeneron Pharmaceuticals and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley upped their price target on Regeneron Pharmaceuticals from $375.00 to $387.00 and gave the stock an “equal weight” rating in a research note on Wednesday, November 6th. Finally, Cowen set a $349.00 price target on Regeneron Pharmaceuticals and gave the stock a “hold” rating in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $384.63.

REGN stock traded down $1.15 during trading on Tuesday, reaching $343.13. 2,688 shares of the stock were exchanged, compared to its average volume of 765,392. The firm’s 50 day moving average is $300.61 and its 200 day moving average is $304.38. Regeneron Pharmaceuticals has a twelve month low of $271.37 and a twelve month high of $442.00. The company has a current ratio of 4.03, a quick ratio of 3.27 and a debt-to-equity ratio of 0.07. The firm has a market cap of $37.54 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 1.50 and a beta of 1.14.

Regeneron Pharmaceuticals (NASDAQ:REGN) last posted its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported $6.67 earnings per share for the quarter, topping analysts’ consensus estimates of $5.13 by $1.54. Regeneron Pharmaceuticals had a return on equity of 24.85% and a net margin of 28.13%. The business had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the prior year, the business earned $5.87 EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, analysts predict that Regeneron Pharmaceuticals will post 19.62 earnings per share for the current fiscal year.

Regeneron Pharmaceuticals announced that its Board of Directors has approved a stock repurchase program on Tuesday, November 5th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the biopharmaceutical company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

In other news, major shareholder Sanofi sold 172,904 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $281.15, for a total value of $48,611,959.60. Also, Director Joseph L. Goldstein sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $340.44, for a total value of $340,440.00. Following the completion of the transaction, the director now directly owns 10,323 shares of the company’s stock, valued at $3,514,362.12. The disclosure for this sale can be found here. Corporate insiders own 11.84% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Regeneron Pharmaceuticals by 0.9% in the second quarter. Vanguard Group Inc. now owns 6,079,347 shares of the biopharmaceutical company’s stock valued at $1,902,835,000 after acquiring an additional 54,247 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Regeneron Pharmaceuticals by 3.5% in the second quarter. Invesco Ltd. now owns 1,344,273 shares of the biopharmaceutical company’s stock worth $420,759,000 after acquiring an additional 46,055 shares during the period. Northern Trust Corp boosted its holdings in shares of Regeneron Pharmaceuticals by 0.6% in the second quarter. Northern Trust Corp now owns 978,518 shares of the biopharmaceutical company’s stock worth $306,275,000 after acquiring an additional 5,530 shares during the period. Parnassus Investments CA boosted its holdings in shares of Regeneron Pharmaceuticals by 290.6% in the second quarter. Parnassus Investments CA now owns 625,000 shares of the biopharmaceutical company’s stock worth $195,625,000 after acquiring an additional 465,000 shares during the period. Finally, Pictet Asset Management Ltd. boosted its holdings in shares of Regeneron Pharmaceuticals by 9.2% in the second quarter. Pictet Asset Management Ltd. now owns 538,358 shares of the biopharmaceutical company’s stock worth $168,506,000 after acquiring an additional 45,494 shares during the period. 66.61% of the stock is owned by institutional investors.

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc, a biopharmaceutical company, discovers, invents, develops, manufactures, and commercializes medicines for treating various medical conditions worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema (DME); myopic choroidal neovascularization; and diabetic retinopathy in patients with DME, as well as macular edema following retinal vein occlusion, including macular edema following central retinal vein occlusion and macular edema following branch retinal vein occlusion.

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