Canaccord Genuity Reaffirms “Buy” Rating for Regeneron Pharmaceuticals (REGN)

Regeneron Pharmaceuticals (NASDAQ:REGN)‘s stock had its “buy” rating restated by Canaccord Genuity in a note issued to investors on Wednesday. They presently have a $522.00 target price on the biopharmaceutical company’s stock. Canaccord Genuity’s price objective would indicate a potential upside of 56.00% from the company’s previous close.

The analysts wrote, “We are encouraged by better US Dupixent growth, but recognize that the pediatric atopic dermatitis market will be the core growth driver, with approval expected around 2021. Also, while we understand that REGN and investors are focusing more on Dupixent’s growth than EYLEA’s, the lack of EYLEA guidance going forward is concerning. REGN cannot give guidance on Dupixent since Sanofi books the revenues, and EYLEA is still expected to be the core revenue driver for REGN.””

Several other research firms have also issued reports on REGN. BidaskClub upgraded Regeneron Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday, January 26th. BMO Capital Markets set a $444.00 price target on Regeneron Pharmaceuticals and gave the stock a “hold” rating in a research report on Monday, November 27th. Citigroup lowered Regeneron Pharmaceuticals from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $480.00 to $380.00 in a report on Friday, December 1st. Robert W. Baird upgraded Regeneron Pharmaceuticals from an “underperform” rating to a “neutral” rating in a report on Friday, November 3rd. Finally, Argus reduced their target price on Regeneron Pharmaceuticals from $540.00 to $470.00 and set a “buy” rating on the stock in a report on Thursday, December 28th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $470.84.

Regeneron Pharmaceuticals (NASDAQ REGN) traded down $4.19 during trading hours on Wednesday, hitting $334.61. The stock had a trading volume of 985,317 shares, compared to its average volume of 978,731. Regeneron Pharmaceuticals has a 1-year low of $319.50 and a 1-year high of $543.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.63 and a quick ratio of 3.07. The company has a market cap of $36,010.00, a price-to-earnings ratio of 30.39, a P/E/G ratio of 1.25 and a beta of 1.47.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. LS Investment Advisors LLC increased its position in shares of Regeneron Pharmaceuticals by 17.0% in the fourth quarter. LS Investment Advisors LLC now owns 2,465 shares of the biopharmaceutical company’s stock valued at $927,000 after acquiring an additional 358 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Regeneron Pharmaceuticals by 6.3% in the fourth quarter. California Public Employees Retirement System now owns 184,939 shares of the biopharmaceutical company’s stock valued at $69,530,000 after acquiring an additional 10,910 shares during the last quarter. AE Wealth Management LLC acquired a new stake in shares of Regeneron Pharmaceuticals in the fourth quarter valued at about $206,000. BT Investment Management Ltd increased its position in shares of Regeneron Pharmaceuticals by 6,246.3% in the fourth quarter. BT Investment Management Ltd now owns 9,456 shares of the biopharmaceutical company’s stock valued at $3,555,000 after acquiring an additional 9,307 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Regeneron Pharmaceuticals by 3.3% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 14,278 shares of the biopharmaceutical company’s stock valued at $5,622,000 after acquiring an additional 450 shares during the last quarter. 65.69% of the stock is currently owned by hedge funds and other institutional investors.

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Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company commercializes medicines for eye diseases, high low-density lipoprotein (LDL) cholesterol, and an inflammatory condition and have product candidates in development in other areas, including rheumatoid arthritis, asthma, atopic dermatitis, pain, cancer, and infectious diseases.

Analyst Recommendations for Regeneron Pharmaceuticals (NASDAQ:REGN)

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