Evercore ISI Reiterates “Buy” Rating for Regeneron Pharmaceuticals (NASDAQ:REGN)

Evercore ISI reaffirmed their buy rating on shares of Regeneron Pharmaceuticals (NASDAQ:REGN) in a report published on Monday, AnalystRatings.com reports. The firm currently has a $395.00 price target on the biopharmaceutical company’s stock.

Several other equities analysts also recently weighed in on the stock. Guggenheim upgraded shares of Regeneron Pharmaceuticals from a neutral rating to a buy rating and increased their price target for the stock from $355.00 to $403.00 in a report on Monday, September 23rd. JPMorgan Chase & Co. restated a hold rating and issued a $375.00 price objective on shares of Regeneron Pharmaceuticals in a research report on Wednesday, November 6th. Robert W. Baird upgraded Regeneron Pharmaceuticals from a neutral rating to an outperform rating and set a $410.00 price objective on the stock in a research report on Wednesday, August 7th. Bank of America started coverage on Regeneron Pharmaceuticals in a research report on Wednesday, October 16th. They issued a neutral rating and a $325.00 price objective on the stock. Finally, BMO Capital Markets upped their price objective on Regeneron Pharmaceuticals from $344.00 to $358.00 and gave the stock a market perform rating in a research report on Wednesday, November 6th. One equities 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 company’s stock. The stock currently has an average rating of Hold and a consensus price target of $384.63.

Shares of NASDAQ:REGN opened at $338.39 on Monday. Regeneron Pharmaceuticals has a twelve month low of $271.37 and a twelve month high of $442.00. The company’s 50 day moving average is $303.72 and its 200 day moving average is $304.39. 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 company has a market cap of $37.81 billion, a PE ratio of 17.09, a price-to-earnings-growth ratio of 1.51 and a beta of 1.14.

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

Regeneron Pharmaceuticals declared that its Board of Directors has initiated a share repurchase plan on Tuesday, November 5th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the biopharmaceutical company to buy up to 2.9% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, major shareholder Sanofi sold 172,904 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $281.15, for a total transaction of $48,611,959.60. Also, EVP Neil Stahl sold 7,364 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $338.52, for a total value of $2,492,861.28. Following the transaction, the executive vice president now owns 21,150 shares in the company, valued at approximately $7,159,698. The disclosure for this sale can be found here. Insiders have sold a total of 185,768 shares of company stock worth $53,015,761 in the last quarter. Insiders own 11.84% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Regeneron Pharmaceuticals by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 6,079,347 shares of the biopharmaceutical company’s stock valued at $1,902,835,000 after purchasing an additional 54,247 shares in the last quarter. Invesco Ltd. lifted its holdings in Regeneron Pharmaceuticals by 3.5% in the 2nd quarter. Invesco Ltd. now owns 1,344,273 shares of the biopharmaceutical company’s stock valued at $420,759,000 after purchasing an additional 46,055 shares in the last quarter. Northern Trust Corp lifted its holdings in Regeneron Pharmaceuticals by 0.6% in the 2nd quarter. Northern Trust Corp now owns 978,518 shares of the biopharmaceutical company’s stock valued at $306,275,000 after purchasing an additional 5,530 shares in the last quarter. Parnassus Investments CA lifted its holdings in Regeneron Pharmaceuticals by 290.6% in the 2nd quarter. Parnassus Investments CA now owns 625,000 shares of the biopharmaceutical company’s stock valued at $195,625,000 after purchasing an additional 465,000 shares in the last quarter. Finally, Pictet Asset Management Ltd. lifted its holdings in Regeneron Pharmaceuticals by 9.2% in the 2nd quarter. Pictet Asset Management Ltd. now owns 538,358 shares of the biopharmaceutical company’s stock valued at $168,506,000 after purchasing an additional 45,494 shares in the last quarter. Hedge funds and other institutional investors own 66.61% of the company’s stock.

Regeneron Pharmaceuticals Company Profile

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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Analyst Recommendations for Regeneron Pharmaceuticals (NASDAQ:REGN)

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