Zacks Investment Research upgraded shares of Sanofi (NYSE:SNY) from a hold rating to a buy rating in a research report report published on Monday morning. Zacks Investment Research currently has $48.00 price target on the stock.
According to Zacks, “Sanofi 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. Shares have outperformed the industry in past six months.”
Other research analysts have also issued research reports about the stock. Argus lifted their price objective on shares of Sanofi from $48.00 to $50.00 and gave the stock a buy rating in a research note on Thursday, November 8th. Jefferies Financial Group upgraded shares of Sanofi from a hold rating to a buy rating in a report on Tuesday, December 11th. Morgan Stanley assumed coverage on shares of Sanofi in a report on Friday, December 14th. They set an equal weight rating on the stock. Barclays upgraded shares of Sanofi from an underweight rating to an equal weight rating in a report on Thursday, November 1st. Finally, ValuEngine upgraded shares of Sanofi from a sell rating to a hold rating in a report on Wednesday, October 17th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $49.50.
A number of hedge funds have recently added to or reduced their stakes in SNY. Essex Savings Bank bought a new position in Sanofi during the fourth quarter worth $30,000. Lavaca Capital LLC bought a new position in Sanofi during the fourth quarter worth $51,000. Focused Wealth Management Inc boosted its position in Sanofi by 33.2% during the fourth quarter. Focused Wealth Management Inc now owns 1,204 shares of the company’s stock worth $52,000 after purchasing an additional 300 shares during the period. Girard Partners LTD. bought a new position in Sanofi during the third quarter worth $154,000. Finally, Stratos Wealth Partners LTD. bought a new position in Sanofi during the third quarter worth $174,000. 7.04% of the stock is owned by hedge funds and other institutional investors.
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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