Sanofi (SNY) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Sanofi (NYSE:SNY) from a hold rating to a buy rating in a report issued on Friday. Zacks Investment Research currently has $47.00 price target on the stock.

According to Zacks, “Sanofi’s focus on streamlining operations and pursuing business development deals is encouraging. It has several new products in its portfolio and candidates in its pipeline that can boost long-term growth. In fact, Sanofi’s product launches are now delivering revenues greater than the loss of exclusivity impact. Particularly, we are optimistic about Dupixent’s sales prospects, which could prove to be an important growth driver. The acquisitions of Ablynx and Bioverativ have strengthened Sanofi’s position in the rare blood disorders market. The performance of the Vaccines and Consumer Healthcare units has also improved lately. However, headwinds include a bleak outlook for the Diabetes franchise, generic competition for many drugs and slower-than-expected uptake of core products like Praluent. Estimates have remained stable ahead of Q4 earnings release. Sanofi has a mixed record of earnings surprises in recent quarters.”

Several other research analysts have also commented on the company. Jefferies Financial Group upgraded Sanofi from a hold rating to a buy rating in a research report on Tuesday, December 11th. Argus lifted their price target on Sanofi from $48.00 to $50.00 and gave the stock a buy rating in a research report on Thursday, November 8th. Barclays upgraded Sanofi from an underweight rating to an equal weight rating in a research report on Thursday, November 1st. Morgan Stanley initiated coverage on Sanofi in a research report on Friday, December 14th. They set an equal weight rating for the company. Finally, UBS Group restated a neutral rating on shares of Sanofi in a research report on Friday, November 30th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Sanofi currently has a consensus rating of Buy and an average target price of $49.25.

SNY opened at $41.48 on Friday. The stock has a market capitalization of $108.88 billion, a P/E ratio of 13.25, a P/E/G ratio of 2.41 and a beta of 0.67. Sanofi has a 12 month low of $37.43 and a 12 month high of $45.86. The company has a quick ratio of 0.85, a current ratio of 1.22 and a debt-to-equity ratio of 0.40.

Sanofi (NYSE:SNY) last released its quarterly earnings results on Wednesday, October 31st. The company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.09. The company had revenue of $9.39 billion during the quarter, compared to analyst estimates of $9.10 billion. Sanofi had a return on equity of 18.18% and a net margin of 12.20%. The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the business posted $1.71 earnings per share. Analysts anticipate that Sanofi will post 3.1 earnings per share for the current year.

Several large investors have recently made changes to their positions in the business. FMR LLC boosted its holdings in shares of Sanofi by 7.5% in the third quarter. FMR LLC now owns 8,527,983 shares of the company’s stock valued at $380,945,000 after purchasing an additional 595,125 shares during the period. Macquarie Group Ltd. boosted its holdings in shares of Sanofi by 11.3% in the third quarter. Macquarie Group Ltd. now owns 3,390,421 shares of the company’s stock valued at $151,450,000 after purchasing an additional 344,140 shares during the period. BlackRock Inc. boosted its holdings in shares of Sanofi by 0.7% in the second quarter. BlackRock Inc. now owns 3,328,180 shares of the company’s stock valued at $133,161,000 after purchasing an additional 22,425 shares during the period. Northern Trust Corp boosted its holdings in shares of Sanofi by 2.3% in the second quarter. Northern Trust Corp now owns 2,209,626 shares of the company’s stock valued at $88,407,000 after purchasing an additional 49,233 shares during the period. Finally, Aperio Group LLC boosted its holdings in shares of Sanofi by 18.9% in the third quarter. Aperio Group LLC now owns 960,160 shares of the company’s stock valued at $42,890,000 after purchasing an additional 152,734 shares during the period. Institutional investors and hedge funds own 7.04% of the company’s stock.

About Sanofi

Sanofi provides therapeutic solutions. It offers Cerezyme and Cerdelga for Gaucher disease, Myozyme and Lumizyme for Pompe disease, Fabrazyme for Fabry disease, and Aldurazyme for mucopolysaccharidosis Type 1; Aubagio, an immunomodulatory; and Lemtrada, a monoclonal antibody to treat multiple sclerosis.

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